If you’ve been considering making changes to your current home or you’d love to do a complete overhaul because you want some extra space, a knock-down might be what you’re looking for. In this article, we will delve into what it all entails, a cost breakdown, and areas where you can save. We will also investigate its pros and cons for a home renovation. If you’re not looking to knock-down or renovate, check out this article on property for sale in Brisbane.
Home Renovation Versus Knock-Down
Most individuals opt for a home renovation to update a part or entire house, such as adding a dining room or upgrading their kitchen. On the other hand, a knock-down involves tearing the entire house down and coming up with a completely new structure.
How Much Does It Cost to Demolish a House?
Many factors go into demolishing a house, including the location. The further it is from the contractor, the higher the cost. Typically, you should be ready to spend anywhere from $20,000 to $40,000.
Other factors that can affect the demolition cost include the cost of building materials, foreign materials such as asbestos, tree stumps, and overall size.
Can You Save Money on a Demolition?
One of the most effective ways to save money during demolition is by requesting the contractor to salvage any reusable materials such as wood from your old home. These materials can then be sold or used to construct the new house.
Moreover, you can also consider giving away the house to a house mover. While you won’t receive any compensation, they can take away the cost of demolition.
How Much Does It Cost to Build a New House?
There isn’t one cost that fits all. The cost of knocking down and rebuilding a home in Brisbane is determined by the size of the house, materials used, fixtures, extra amenities such as a swimming pool, and the location. That being said, you should be ready to part with anything between $500,000 and $700,000. The final price depends on you as the homeowner; depending on your tastes, preferences, and most importantly, your budget.
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Pros of a Knock-Down Over a Renovation
Renovating a house has several pros:
– Lower costs
– Design and customisation
– New materials and upgraded technology
When done well, it can also save time over a home renovation. A knock-down gives you a clean slate to create a beautiful masterpiece that you’re going to enjoy for years to come.
Moreover, you can make huge savings on insurance when you build a home that’s compliant with all the rules and regulations. Additionally, by building a home at the same level as today’s building standards, it will command a higher price if you opt to sell.
What Are the Cons of a Home Knock-Down?
A home renovation has its share of cons. For starters, you may be required to start paying rent during the whole process of demolition and rebuilding. Additionally, you have to familiarise yourself and ensure you comply with all building regulations, which can be time-consuming.
If you’re struggling to choose between a knock-down and home renovation, you should consider partnering with a reliable house specialist.
