“TO DEMOLISH OR NOT?” THAT IS THE QUESTION!
For many homeowners the concept of a ‘knockdown rebuild’ sounds like an extreme measure conjuring up images of wrecking balls, piles of rubble, chaos and destruction.
To demolish your existing house can seem like a radical option but the reality is that with the right team a knockdown can be a straightforward solution to the limitations of an existing property.
The benefits of starting with a clean slate
With a blank canvas, or in this case, a clear block of land, you are free to design your dream home. What’s more, it will be the ideal house for the shape and size of your block of land in a location you already love.
Let’s face it, for so many homeowners they bought the type of house they could afford at the time which meant they would need to renovate at some point in the future. After some basic renovations there may still have been the constant frustration about the aspect of the house. “If only it had been designed to make better use of the northern light; it gets so cold in Winter!” Or perhaps the house was positioned in such a way that it didn’t make best use of the view.
Perhaps you bought that little weatherboard house in that quirky suburb and you were glad you did because house prices are soaring in the Newcastle region.
First-time buyers usually step onto the property ladder buying in an area they can afford. As it turns out so many old, inner city suburbs in Newcastle have become boutique suburbs and the land value has appreciated exponentially. With the scarcity of land in sought after suburbs it makes sense to capitalise on it. Let’s explore some of the options to consider…
Knockdown and rebuild your home
If we’re brutally honest, that cute weatherboard is not energy efficient and the wall with the defunct fireplace and chimney blocks out the northern light; the toilet is at the back of the house miles away from the bedrooms; the kitchen and bathroom haven’t been upgraded since the 1970s and need a complete overhaul. These are very common and costly problems, and to maintain the cute weatherboard you need to be prepared to dedicate a lot of TLC and money.
It’s no surprise that many homeowners are interested in the alternative of a knockdown rebuild. The cost to knockdown and rebuild a home are less than the combined costs to renovate and the following years of endless maintenance. There is also the cost-saving on bills that comes with having an energy efficient home. By contracting a local builder who can take care of every aspect of the project from demolition to construction, the overall costs of doing a knockdown rebuild can also be greatly reduced.
Twice as nice!
In choosing to do a knockdown rebuild, some homeowners take advantage of the size of their block by building a dual occupancy. This is a great way to further invest in your property and increase its value. With the urbanisation of Newcastle and the need for more diverse and affordable dwellings, its a great time to capitalise on your existing block of land. What’s more, you’ll skip the stamp duty you’d otherwise have to fork out when buying a new block of land.
Current estimations predict the population in the City of Newcastle is set to grow by 41,000 between 2016 and 2041 and that there will be an increased demand for smaller dwellings to suit one and two person households. That’s where you can make the most of what your current block of land can offer.
The option is there for you to sell or rent out one or both of the new properties or be a live-in investor. Duplex homes appeal to every sector across the market from first-homebuyers and small families to empty-nesters and retirees. It’s an investment to secure strong returns while being relatively low-risk. So, start imagining what you can create on your block of land with a knockdown rebuild.
It’s all possible with the right help
Whether you’d like to demolish your existing house and rebuild a luxury home or an investment property, Valley Homes construction and custom design service can meet your needs. Whatever your budget, the Valley Homes team have a knockdown rebuild solution to suit your property requirements and your vision. They have the local knowledge and expertise to ensure your project is stress-free because they take care of everything from council approvals, demolition, designs, project management and construction. Valley Homes knockdown rebuild projects are also backed by their fixed price and turn-key assurance. It comes complete with a new home warranty – without having to pay stamp duty – how good is that?!
Contact Valley Homes to find out how they can help you make the most of your property.