Build New or Remodel?

On a dollar-per-square-foot basis, remodeling is usually much more expensive than new construction. Here's why: When a builder constructs a house from the ground up, every step of the building process is coordinated for maximum efficiency. First, the walls are framed, then the plumbing and wiring is installed, then the wall studs are covered with sheetrock, etc. Furthermore, there are fewer variables to manage and restrictions to work around.

On the other hand, when a builder undertakes a remodeling project, he is forced to work within an existing structure on a furnished, landscaped lot, in a home that is often occupied with children, pets, furnishings, etc. on a street with neighbors, parking and work hour restrictions. Portions of walls must be torn out, then rebuilt. Work crews must work in cramped quarters. Defects in the existing home (such as sagging corners) may force the builder to make compromises to seamlessly connect the old and new portions of the house together. Occupied and furnished portions of the home and yard and driveway must be sealed off and protected. Neighbors must be accommodated. Worst of all, there are almost always unpleasant surprises when you start peeling away the "skin" of an older home, such as dry rot in the walls and floors. In short, remodeling has more challenges, restrictions and encumbrances than ground up new construction and builders charge for having to work around them.

So here is a brief checklist that can help you decide when it makes sense to build or remodel given that all things are rarely equal!

When should you remodel versus looking to build new?

• You love your neighborhood.
• There are no available building lots in your neighborhood.
• You have an emotional attachment to your home and have the money to make the changes.
• You would rather invest money in your home than in closing and moving costs.
• Property values in your neighborhood are rising.
• Your home value is not at the peak for the neighborhood.
• You’re looking to buy in a mature neighborhood with grown trees and landscaping.

When should you look at the option of building a new home?

• Building lots are available in your neighborhood or a neighborhood you really like.
• The cost of remodeling your home will outpace its resale value.
• You want a home with changes that can’t be added to your current home.

As a state licensed builder, remodeler and Realtor we can help you sort through these issues and make the decision that is best for your family based on your priorities.

Give us a call today. 912-604-5977