When you need more space, is it better to add on to your home or to tear it down and rebuild a custom home? This is a great question we get often and there are many things to consider. Most people immediately think renovation is quicker and less expensive, while building brand new takes longer and is more expensive.
Seems to make sense, right?
Not exactly, and there are other factors to consider. Deciding which is the best choice for you really depends on your current house, your needs and wants, your budget, and—maybe most importantly—your long-term plans. Let’s look at each and explore the exciting possibilities!
Your current house:
If your current home or property you are purchasing has serious problems like foundation issues, an addition just won’t be in the cards. In this situation, a tear down and rebuild almost certainly makes more sense.
If your home doesn’t have any major problems, adding on can be an option. If you have a builder that can match the style of your home, keep the charm, and meet all your wants and needs for the space, an addition may be for you. However, there are two special considerations in this case:
1) Sometimes it’s hard to tell the true condition of a home until renovations start, and you can get stuck with major unexpected repairs.
2) The parts that you don’t renovate or add on to will continue to be too small, lack flow, or not meet your lifestyle.
Your Needs and Wants
Do you need another bedroom or bathroom? A home office? Do you want higher ceilings, a more open floorplan, or more closet space? Take inventory of needs and wants and figure out how important each improvement is to your life. Talk to contractors and architects about what’s possible with additions. If you find that you have needs throughout your home, you should talk with a custom home builder.
Home additions and renovations can be done one area of the home at a time. This may seem more cost effective because it is a series of budgets instead of one large project. In our experience, this method can be highly disruptive to your life, and it turns into a year’s long struggle instead of a life-changing opportunity for your family to enjoy time together. We can help you run the numbers and show how, in many cases, a tear down and rebuild, can actually be more cost effective because you are doing it all at the same time.
Your Future Plans
This is arguably the most important factor when you’re deciding between additions and a complete rebuild. If you have one specific area that needs some elbow room and you just need to get a few more years out of your current house adding on might make sense. But if you plan to stay in your home long-term, more times than not, it’s best to tear down and rebuild. Home additions just can’t touch the functionality, cost-effectiveness, and overall enjoyment that comes from a custom home.
Building a home is a large undertaking, and you may have questions like:
Can I build on my lot with mortgage rates up?
Can I build on my lot with my specific zoning?
Can I build on my lot with construction costs still up?
The important takeaway is not to settle. Explore all your options and get all the bells and whistles you deserve. We’d be delighted to help you answer these questions and more as we walk you through the custom home building process. Please contact us at email@example.com.
Dream. Build. Live.