When you have a block of land that already has a home situated on it, and you undertake the process of demolishing this structure and rebuilding a brand new home, this is referred to as a knockdown rebuild project.
One of the main reasons is the cost, renovating is very expensive and in most cases far outweighs the cost of a new build. However, matching your old home to the renovation can be challenging, even to the most experienced builder. Unidentified costs can sometimes be an issue and having to compromise your new design to accommodate your existing old design is not preferential for most people.
There are some things that you need to take into consideration before deciding to knockdown and rebuild.
- Is the block suitable – accessibility, slope of land, location of trees, easements and many more items
- Financing – type of loan, temporary living costs to name a few
- Choosing the right builder – previous experience, customer feedback, fixed price contracts and communication