Should You Build a New House or Fix an Old House?

We all just want to save money, especially when it comes to our home. For many years, the Australian dream has been something we all want to achieve. Do you buy an existing property or do you build a new home? That’s the main question. Home builders can help during the difficult time and important […]

We all just want to save money, especially when it comes to our home. For many years, the Australian dream has been something we all want to achieve.

Do you buy an existing property or do you build a new home? That’s the main question.

Home builders can help during the difficult time and important decision you have to make when choosing whether to build a house or just remodel your existing home. In this day and age as a homeowner, owning a house on a great block of land isn’t always the best bet when it comes to obtaining your dream home. It’s essential to be energy efficient and take advantage of what new builds can offer.

Is it better to buy an old house or build a new house?

Old homes are always considered a good investment but how much better would you feel if you got to design everything in your brand new home! The building is a cost-effective way of living in the house of your dreams, but you can also add and change features to your current house to reflect the things on your wish list.

There is less maintenance down the line when you build a property vs amend an old building as a renovation can put you over budget. The total cost can differ according to the project, so it’s best to check with the custom builders you’ve chosen for your houses.

Is it cheaper to build a new house or remodel an existing house?

People often consider building their home as opposed to buying an older home because of the benefits in the long run. Whilst renovations in an existing house can take some time, construction on a new build can take time too. The costs of renovating an old home can often be a turn off as it can get quite expensive, especially for first home owners/buyers, regardless if they’re interested in older homes or new homes. For a new home you will have to consult with an architect, which will cost money and time. You also have to think about a real estate agent and how much time it’ll take to sell your current house as opposed to if you choose to renovate.

There are many advantages and disadvantages to fixing up your existing home. Whether you’re a first home buyer or if you’ve moved multiple times, it’s important to make a good decision. The pros and cons are outlined as below:

Pros

You can add a new floor and new roof, which are the two things that can go through a bit of wear and tear over time. You could redesign bedrooms and living areas to suit your style and theme of the house. The best choice that most homebuyers don’t realise is that redesigning your existing home to suit your needs is a better investment than building a brand new home that could take months.

Cons

The cost of the rebuild can accumulate to more than it would be to build a home in those cases its better to talk to an expert to get the right advice. If you’re looking to organise a demolition, it’s worth being aware of the risk that it involves and the costs that will ultimately fall on you. A general contractor is an investment that also needs to be taken into account with the renovation budget. You won’t get to choose the land, location or established area that you’ll be living at as opposed to building a new house where you have a lot more freedom and flexibility. Renovating an existing bathroom or backyard can come with more problems than solutions, that’s why it’s best to invest in building rather than rebuilding.

What to look for in a custom home builder for your new house or an existing home

When looking for the right custom home builder for your primary residence, it’s important to research their price and reputation.

After the initial building inspection, they’ll be able to provide you with a quote, which will be catered to new homes and old homes. Many custom home builders for new houses and old houses have varying renovation margins that they have to abide by, which is why it’s better to do your research before you sign with a custom builder.

Choose Red Hill Builders to build your new house and forever home

At Red Hill Builders, you can trust in our professional team to offer you a seamless service, whether it’s renovating an existing home or making a structurally sound new home, which can be a good or bad investment depending on your circumstances.

You are our priority and we’re more than happy to help you with your next project. So, what’re you waiting for? Call us today so we can have a conversation about your dream home or get in touch via our website so we can assist you today.