Extensions vs New Homes vs Relocation – what’s the better option?

Planning on moving into a new home? Or even just thinking about starting some building work? Then you need to know what kind of work you need, an extension or a knockdown and rebuild. Here are a few points that will help you figure out whether you need to extend or build. 

If you planning on doing some building work in Canberra, make sure to ask yourself:

  • How long do you plan to live in the home?
  • Are you connected to the local area? Schools/work/friends/family?
  • Does the home need modernising?
  • Is the family growing?
  • Would you like a better lifestyle?

If all your answers are yes to the above questions, then home extensions or renovations would best suit you. Particularly, if you enjoy where you live and have no desire to move to other parts of Canberra. Older properties in Canberra especially, have a sense of character and were built to last (which are everywhere within inner city and midtown areas in Acton or Barton), so extensions can restore and maintain the houses old charm. This is why it is important to find a Canberra home builder who can maintain the quality of your home, while also working with the classic exterior architecture and enhancing its modern conveniences. It is also important to remember that older houses, both with or without extensions, hold their value better than new houses. This is because it is difficult to replicate older building by using modern building techniques. Extensions in Canberra often happen faster than complete rebuilds, it is also can be the most cost-efficient option.

Knockdown and Rebuild

A knockdown and rebuild should be considered if your house is beyond repair or has some other problems. They also may be considered if you purchase a property without an established house.  Unfortunately, though, new homes are only ever brand new the day they are finished. From that day on the new home can continue to lose much of its value, year after year, for up to five to ten years thereafter. This is due to housing styles going in and out of fashion, depreciation, as well as the unavoidable difference between cheap, modern materials and durable, long-lasting older home construction. Knocking down and building new is also a very expensive option. There is the additional demolition, landscaping, rent and moving cost. Not to mention the cost of building an entire home from scratch.

The most important thing is to decide the best choice for your current and future lifestyle, always keep your family and community in mind. This is why you should always know the space you need to live in before making big decisions about changing or leaving it. Make sure to do plenty of research into both about extensions or rebuilds before deciding. And make sure to find a Canberra builder who can specialise in what you need.