Property construction involves several stages, including a substantial amount of time spent on land acquisition and preparation. Buying the land to build your home can be challenging because of the continuing uptick in land prices and availability issues.
A knockdown rebuild offers a practical solution to these problems. Demolishing and rebuilding allow you to create a property that suits your needs and preferences without the hassle of moving to a new place.
And people seem drawn to the idea because of the benefits of a knockdown rebuild scheme. Records show that in some areas in Melbourne, four new properties are replacing one demolished home since 2016.
If you’re looking for reasons to knockdown rebuild, you’ve come to the right place. This article discusses the benefits of this emerging home-building solution.
Advantages Of Knockdown Rebuilds
According to a survey, building a new home takes four to twelve months following land acquisition. However, it takes three months on average to complete a vacant lot purchase in the country. While you may need to arrange a temporary shelter, rebuilding your property this way can save you time and costs.
Below are the most compelling reasons to consider a knockdown rebuild for your property.
- A Knockdown Rebuild Is Cost-Effective
On average, a new building costs AUD$1,393.55 per square meter, whereas demolition costs run from AUD$39 to AUD$70 per sqm, depending on the property type and location, estimates by loans.com.au show.
However, you may save by reusing construction materials such as tiles, furniture, roofing, and other items. You can skip relocation fees of up to AUD$8,000 per Airtasker estimates and additional charges associated with home transfers and land purchases. Comparatively, cost considerations for rebuilding a home on your property include storage fees for a few hundred dollars and months’ worth of rental payments.
- It Minimises The Stress And Disruptions Associated With Relocating
Moving to a new place can be challenging and stressful for adults and children. Relocating could cause depression in some youngsters, as they must leave behind their friends, neighbours, and school. These significant changes could likewise impact your family’s lifestyle, creating tension within the household as you adapt to this life-changing move.
On the contrary, you and your family will be spared such adjustments in a knockdown rebuild scheme. This is an important consideration, especially if you currently reside in a strategic area where facilities like transport hubs, schools, hospitals, and malls are conveniently located. By reconstructing your new dwelling in your lot, your children don’t have to switch schools or alter their routines and lifestyle.
- A Knockdown Rebuild Offers Endless Customisation Possibilities
Unlike renovation activities, a knockdown rebuild lets homeowners erect their dream homes without restricting size and style preferences. Demolishing the current property lets you start from scratch, allowing you to adjust to your family’s ever-changing needs proactively.
For instance, a two-bedroom bungalow dwelling can easily be upgraded to a two-story one with three to five rooms. Similarly, a modular home can be built according to your preferred style if you want a quick construction that only takes a few weeks.
Discuss your requirements with the contractor to access various options that align with your needs. Reputable knockdown rebuild contractors can build houses tailored to your lifestyle, timeframe, and budget. With such flexibility, it’s unsurprising why people choose to knock down rebuild over traditional home-building schemes.
- It Allows You To Build A Sustainable Home
The demand for modern homes and green buildings is increasing worldwide. Instead of focusing merely on aesthetics, today’s homeowners are moving to reduce their carbon footprint and save on long-term ownership costs. For instance, insulation products boast better efficiency. Modern homes have bigger windows to access natural light, replacing fancy light installations of the past. Preference for pre-cast concrete slabs, recycled plastics, timber, and steel has increased following the move for more eco-friendly construction practices.
A sustainable home is a way to go if you want to save on home ownership costs in the future. And this won’t be possible without wrecking your outdated dwelling and replacing it with a new one.
- A Knockdown Rebuild Is A Worthwhile Investment
As a newly-constructed home, properties erected through a knockdown rebuild scheme carry warranties, ensuring you of a high-quality structure. As long as it is in effect, you don’t have to pay for repairs and replacements if issues crop up.
If you’re an investor planning to rent out or sell, you automatically get a higher value for your new asset. A knockdown rebuild property guarantees a higher investment return than a renovated home, which in some cases may cost the same as the former.
A knockdown rebuild provides a pragmatic solution for homeowners looking to save on costs and time. It enables future property owners to skip land acquisition challenges while building a high-quality, customised, contemporary home. Compared to a renovation, a knockdown rebuild is often the better option if you don’t want to leave your current address but are eyeing a new home that fits your needs, lifestyle, and budget.