The question of remodeling a house that needs a “little love” or tearing down to rebuild is a worthy discussion.
There are so many substantial factors that come to play in both situations, such as:
- The historical significance of the building
- The condition of the home
- Energy efficiency considerations
- And possible setbacks from tearing down a building
All these factors will influence the decision you make, that is, to tear down or renovate.
Comparison: Remodeling versus tear down and rebuilding
To help you decide whether to renovate or tear down and rebuilding, you should be able to get a clear picture based on the following factors:
- What are the costs involved in tearing down and rebuilding?
Demolishing a house will not cost that much; however, the costs will skyrocket in the rebuilding process.
Rebuilding a house, so many factors come into play that will substantially affect the costs.
Some of these factors are size, materials to be used, new home design, features of the home, new home architecture, and which contractor to hire. The list is endless.
To tear down and rebuild a house, expect to spend at least $ 70,000 for a modest home in an affordable part of the country and $ 500 000 or more in a large-scale demo and rebuild in an expensive area.
- How much will it cost to renovate a home?
House renovation projects are less expensive compared to tearing down and rebuilding. It is your go-to choice if you are working on a budget.
But, if you’re a fan of house flipping shows, then you’re probably aware of how a $ 10,000 budgeted reno can turn into $ 50,000 renovation progress.
This shift in costs may result from hidden problems in the house and so many other factors.
So the key considerations are
- Is your building historically significant? You may not be able to demolish it without having to pass through the state or even federal government.
- Would you rather live in a custom building designed to your liking or keep your old house and give it a facelift?
- Poor planning can lead to expensive renovation costs.
- Energy efficiency is a top priority nowadays, and newly built homes tend to be more efficient than renovated ones.
So, whether it’s a remodel or rebuilding project, finding the right contractor is critical.
BruceBuilt, LLC specializes in residential and commercial custom designing and building as well as remodeling services.
Call them today if you reside in McMinnville.