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Are you wondering what to do with your old home? Most people generally either sell it to invest in a new one or renovate it or build it at a different location. You can take the same decision as others, or you can be smarter with your finances by choosing another option, i.e., tear down your existing home and build the new in its place. In recent times, the concept of Knockdown Rebuild (KDR) has gained a tremendous reputation for its ability to offer multiple benefits to homeowners. If you are not aware of its significance, then follow this article so that you can make an informed choice.
One of the most critical aspects of this method is its cost-effectiveness. Buying a new home is usually a costly affair. And as you may know, most renovation projects tend to be expensive because you have to demolish some portions of the existing structure first and then get permission so that the actual work can begin. Besides, different types of costs are associated with renovation work, which may not be immediately identifiable unless the project takes off. For example, you can think of getting permission for a subfloor. But you can get rid of all the problems by knocking your home down and rebuilding it. You entirely demolish the old house so that you can begin from scratch to create a new structure.
At the time of renovation, you have to be ready for any surprises that can shake up your entire budget for good. For example, you can detect an issue with the wiring, drainage system, etc., that consume a reasonable amount of time and money in repairs. But, when you opt for knockdown-rebuild option, you don’t have to worry about these things. You already have a fair idea of the cost that you will have to pay for constructing a new home.
Switching to a new home generally means leaving the locality where you have been staying for a long time, and hence developed a fondness for it. But when you rebuild your home, you can stay where you were while improving your lifestyle.
The builder may face accessibility issue while doing a renovation job, primarily if you reside in a densely populated area. Consequently, their productivity may hamper. But this problem disappears in case of the new builds. The team can reach the spot more comfortably and complete your project within the deadline. As a result, you also don’t have to pay extra rent or storage expense.
Freedom of design
Whether you buy a new home or choose to renovate your existing house, you cannot do much with its design and layout. Even a small change can cost you heavily. But when you rebuild your home, you can fulfil all your desires with liberty while paying attention to the cost.
Today, the knockdown-rebuild homes have become quite a choice in Australia behind which one reason is the shortage of land in the main cities. If you want to stay in the same town, you probably have to dole out a considerable sum to acquire it. Or, if that is not an option for you, then you have to search a piece of land in a distant location where most of the amenities can either be absent or scarcely available. Considering all this, going the KDR way sounds more sensible. For further details, you can visit website.