Your current house state may not be sufficient to live a comfortable life, so you might want to make changes by renovating it. But moving is not an option, because you have relatives and friends in the area, you are used to this area, and amnesties are all around. There are several factors to consider to know when to renovate your home or rebuild it entirely. In this case, these are the ideal solutions to your problem. But, it is still hard to decide which one you will pursue.
When deciding, you only have two options: opting for the demolition and reconstruction process is a big decision, and a lot of thought and consultation is key. In this discovery practice, we’ve put together some tips on both options that can help you make your final decision. Below are some factors that may influence your choice:
The condition of your home plays an essential role in your choice. First, you need to determine why you want to change your home’s condition. Would you rather have more space, or is the color ugly, is the interior design conservative, etc.? Next, you should do a thorough examination of your home. Sometimes small changes, like a fresh coat of paint or new furniture, will give your home a new look, and in those cases, a complete renovation is not necessary. This factor will help you in your decision-making process and also in pricing.
Renovating your home is the cheapest option, but sometimes the building condition is so bad that remodeling is not an option. And if structural changes are needed from the start, then demolition and reconstruction are a much better option. The price of renovation and demolition varies depending on the property size and shape, and the finished construction. It also includes the accessibility to utilities like gasoline, water, etc.
A complete home renovation requires minimal maintenance in the long run, but it all depends on the materials used in the demolition and reconstruction process. If you are thinking of renovating your home, it is imperative to inspect it for almost all termite infestations as it is cost-effective to rebuild the termite-infested home.
Return on Investment
An essential element in deciding between the two options is often overlooked by most, which is the ROI. Your house is one of your family’s huge real estate investments, so it is best to know the home’s ROI percentage before you make your final decision.