Remodel vs Renovation? If you’re contemplating whether to upgrade your home or tear it down and start new, we’ve compiled a list of the pros and cons.
If you own an older home that has seen better days, you might be thinking about how to go about bringing it back to life.
In some instances, it might make all the sense in the world to remodel the inside of it to make it look and feel more modern than it does right now. But in other cases, you might be better off knocking a home down and rebuilding it rather than remodeling what you already have.
The remodel vs renovation debate has been going on for a long time now.
Here are some of the things you should keep in mind when considering these two options.
Remodeling a Home…
The truth is that there are pros and cons that come along with doing both remodeling projects and complete tear-down and renovation jobs.
1. Costs Less Than Rebuilding a Home From Scratch
When you decide to tear a home down and rebuild it from scratch, there is obviously a high cost associated with demolition.
On average, the cost to tear down a house ranges from $8,000 to $15,000. But it could potentially cost a lot more than that depending on the size and location of a home.
You won’t have to worry about paying all that money when you use an existing house and choose to remodel it. There be will some demolition involved, but it won’t usually require the use of heavy equipment and take up a lot of time.
2. Allows You to Customize an Existing Home
One of the things that people might try to tell you when you opt to do a remodel vs renovation is that remodeling won’t allow you to customize a home like rebuilding it will. But this couldn’t be further from the truth!
During a whole home remodeling project, you’ll be able to rip out everything from a home and completely rework it. You can add or subtract bedrooms and bathrooms, make kitchens and other rooms bigger, and even put on an entire second floor if you want to.
You can make an old home look new again by incorporating new materials into it. From new siding on the outside of a home to new flooring inside of it, you can enhance the appearance of a home and make it look incredible.
Shop here for some of the supplies you’ll need to get your remodel going.
3. Keeps the Charm and Character of a Home Intact
If you’re thinking about tearing down a home that is only 20 or even 30 years old, you won’t lose too much charm and character when you do it. Homes that fall into this age range haven’t established enough charm and character just yet.
But if you have a home that’s on the older side, you’ll be losing so much charm and character if you tear it down. And you won’t be able to get it back once you start rebuilding your new home.
Think long and hard before you knock down an old home. That home is loaded with so much charm and character, and it would be a real shame to let go of it.
Tearing Down a Home and Rebuilding It…
1. Makes a Home as Safe as It Can Be
You can make an older home look as amazing as you want through the power of remodeling. But if it’s not 100 percent safe for people to live in it, what’s the point?
Some older homes sit on foundations that aren’t strong enough to support remodeling jobs. Some also have outdated electrical systems that could present serious problems over time.
By tearing down a home and rebuilding it from scratch, you can make it every bit as safe as it needs to be. You won’t have to worry about any issues popping up with the home in the near future.
2. Gives You a Chance to Make a Home Much Larger
During a home remodeling project, you can, of course, put an addition onto the home. You can also add a second floor to it to beef up the square footage.
But there’s only so much you can do to make a home larger before you realize that it would just make more sense to take it down and rebuild. If you’re not careful, you could end up spending more than you would to rebuild putting additions onto a home.
There is also a chance that you could make a home structurally unsound if you choose to put a second floor on top of an older foundation. If a contractor tells you this is the case, you should immediately start thinking about rebuilding a home from the ground up.
3. Brings Insurance Costs Down
In general, newer homes cost a lot less money to insure than older ones do. Since new homes don’t encounter as many problems as old ones do, insurance companies are willing to extend better rates on homeowners insurance to those who own them.
It’s a good idea to talk to your insurance company about what your rates would be when it comes to remodel vs renovation. You could save yourself hundreds, if not thousands, of dollars every year by rebuilding a house as opposed to remodeling it.
It’ll be up to you to crunch the numbers to see exactly how much you could save. If rebuilding your house will bring your insurance costs down by a ton, it could be worth pursuing that option.
Carefully Considering Remodel vs Renovation
When you’re weighing your options with regards to what to do with an older home, you shouldn’t take the remodel vs renovation debate lightly. It’s important to think about the pros and cons of both.
Doing a remodel might be a simpler and more cost-effective option. But it could also come back to bite you later if you find that an older home isn’t safe.
Doing a tear-down and renovation, meanwhile, might cost more than you can afford to spend. But it could be the only way to revitalize a house and make it safe again.
Read our blog to learn more about home remodeling and renovation.