When talking about a new home for your family, the majority of people will instantly think about selling the place where you currently live and moving someplace new. In reality, however, knocking down an old home and building a new place is just as valid of a solution. So, why is this option not as common/popular as its counterpart? First of all, it’s a gargantuan project that will take months to complete. While remodeling a home or moving to a new place, you probably won’t have to come up with a temporary residence. The list goes on and on. With that in mind, is knocking down your old home and rebuilding still a valid option? Let’s find out!
A Fresh Start
Some say that investing in a house is like throwing money in a bottomless pit. However, this is only true if it’s an old house. With a new place, there are no surprises. You see, if the home in question is aged, you will have to fix the insulation one year, do some roofing the next, seal the driveway on the third, etc. With a new home, you’re postponing the majority of these concerns further in the future (years and decades in the future). In other words, by knocking down your old home and rebuilding, you’re making a massive investment in reliability.
It Can Be More Cost-Effective
According to veterans behind a renowned demolition company, razing a home to the ground and building a new one can actually be more cost-effective. First of all, depending on the scale of the home improvement (as an alternative), you might have to overinvest. There are a lot of government grants for new homes (especially green ones), which could drastically offset the ROI of the project in your favor. We will discuss going green a bit further on. Overall, you need to consult experts, put it all on paper, and see which course of action pays off the most.
Keeping the Location
You don’t have to move in order to live in a new home. You can simply knock down the old building and erect a new one in its place. Keep in mind that one of the reasons why people move is the state of the building or the fact that (due to family expansion) they need a bigger place. Then again, some prefer to move to a smaller place in order to lower the living costs. On the other hand, you can buy an old home, raze it to the ground and build a new one. Ruinous homes often come at a bargain price, which means that you could get a potentially great location.
So much has changed since the home you’re currently living in was built. Today’s energy-friendliness standards would be hard to imagine by someone from the past. Going green today means making a massive transformation of your utility bill and a completely different financial life for your family. How is this eco-friendliness possible? Well, this is mostly due to new trends and materials that didn’t exist (or weren’t in use in the past). Other than this, we’ve also mentioned the appeal of moving into a smaller home. Those interested might want to look into the tiny house movement.
Let’s be completely honest and admit that the main reason why people build instead of buying houses is for the creative freedom that comes with this option. Do you want more than 2 bathrooms? Do you want a kitchen that comes with extra features? Perhaps you want a specialized room that requires a different flooring/layout. When constructing your own home, you have the freedom to do as you like. Apart from this, there’s also the sense of accomplishment of constructing your own dream home.
At the end of the day, while the cost of this project may be high, the truth is that the cost of purchasing a new place might be as expensive (if not even more expensive). To make the long story short, building a new home is a more creative, courageous, and efficient solution. It also requires more effort and willpower. It is a massive task that will remain the rest of your life so be sure before you start anything.
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