Buying or living in an old house has a number of downsides. While you may easily make changes to some of the exterior and interior elements, such as getting a paint job or replacing the main gate, if there is a major structural change, like adding a room or increasing the height of the ceilings or changing the living spaces, then you’ll have to go for rebuilding. Before discussing it further, it is pertinent to first understand real meaning of renovations and rebuilding which have been discussed below.
Renovating your house means fixing what is already there, improving its condition and, in some cases, adding a new thing or two. It usually includes changing the look of the house by installing new finishes, getting new paint, building new racks and cabinets and changing the exterior. Rebuilding on the other hand is a structural change to the house. It involves re-constructing the entire unit from scratch so that stronger foundations can be laid, architectural design and use of space can be improved. Practically both projects will take a lot of time and include high costs but rebuilding is comparatively expensive because it’s actually building a new house on a piece of land.
Older houses, more often than not, have issues like cracked walls or deteriorating structures that may require immediate attention in order to be used or sold. Therefore, if you’re someone who’s dealing with an older property, and you’re having trouble choosing between renovating and rebuilding a house, consider following factors: How much time will you spend in the house? How much can you spend? Are you emotionally attached to the property? How much do you need to change? Let’s discuss all these perspectives one by one.
First question is the time duration that you spend in the house. The time that you want to spend in the house will largely affect your decision. If your plan is to live at the property and you have sufficient finances to spend, the best decision will be to demolish the existing structure and build it from scratch. In the second case where you are planning to sell the house in the next one to two years, it is probably best to go for the renovation.
Second question is the sum of money you can spend. Renovation is economical as compared to rebuilding. You can start by renovating the kitchen or the lounge and then move on to the next room if and when your budget allows. Renovation can be done over a period of time but you cannot drag the construction as and when suits you because the materials are prone to get affected by weather conditions. So, choice highly depends upon the money that you have.
Third question is that either you have emotional attachment with the house or not. Some people develop an emotional attachment to their house due to a number of reasons. So, before selecting an option, ask yourself how much you’re willing to add to or remove from the original structure. Renovation only leads to slight changes in appearance but the overall design and structure remain the same. However, rebuilding will lead to a complete change in structural design as well as the outlook of the house. The windows and entrance to the rooms may not be where they used to be. So, the decision depends if you want to change the physical appearance of your house or go with the same one.
Fourth and an important question to ask yourself: how much do you need to change in the house? This can only be answered if you are clear about your needs and what you expect to achieve. If you are looking to make minor changes to the house like making it more practical, increase the functionality of the rooms or want to add or change the place of windows, the restoration will offer you what you need to achieve. However, if there are some major changes that will include changes to the structure like changing the height of the ceiling or making major changes in the floor plan, rebuilding will be the answer to your issues.
Hope so these points will make it easy for you decide to between renovate and rebuilt. Good Luck!