We all know that any available land in Sydney is moving further and further out from the CBD, block sizes are shrinking significantly and lifestyles are changing. These factors, along with others, are seeing homeowners re-thinking their situations with many deciding to follow the latest trend - demolishing their existing ageing properties and rebuilding on their current land.

If this idea has crossed your mind but you are yet to take it any further, read on and we will try to help you understand some of the advantages of demolition and rebuilding.

Update and modernise

Things change and perhaps now that your family has grown up and left the nest, it might be time to bring your living requirements up to date to better suit your new family dynamics and bring your home into the 21st century.

Home designs have evolved over the years and the style of home you built back in the day is probably very different from what you want now.  Today’s homes are more open plan with emphasis on entertaining outside in the beautiful climate with outdoor alfrescos now replacing the outdated “games room” with its dart board and snooker table.   The formal dining room is also fast becoming a thing of the past with family room/kitchen/meals area taking over as the hub of the home.  Formal lounges rarely get used in today’s society but the Home Theatre with surround sound technology is definitely winning points in most new home designs.

So, in short, demolishing your old home and rebuilding may allow you to capitalise on current trends and designs plus living requirements and bring your home into the 21st century.

Bigger IS better

Blocks of land created by developers today are small compared to established blocks in the older suburbs.  If you are lucky enough to have one of the older bigger blocks you are in a very enviable position.  You have greater flexibility with the kind of home you can re-create if you wish to go down that track but also, if your block is big enough, you have the potential to sub-divide and build two homes, selling one off as part of your retirement plan.

If your current home is sitting on a bigger block it also gives you the potential to start afresh with your new home plans maximising your living areas and incorporating all the things you may be missing at the moment such as the alfresco, swimming pool, or a smaller low maintenance garden.

$$$ saved by rebuilding

Which is cheaper, renovating or demolishing and rebuilding?  As a rule, home builders will generally allow about $1000 to $1300 per square metre for a good standard of finish to a new home.   Home renovation companies will work on about $2500 to $3000 per square metre.

If you do your sums you may therefore find that it is far more cost effective to re-build than to renovate depending on how major a renovation you are considering.  The other thing to take into consideration is that if you choose to renovate part of your home you will inevitably end up with a fresh “new” section alongside the “old”.  The old section may then tend to look a little bit tired and dated in comparison and this could mean that somewhere down the track you may have to consider renovating that section too!  This will, of course, all add to the final cost of the project not to mention the inconvenience of going through the whole process again.

Capital Growth Potential

People love to live in the inner-city areas and the suburbs close to the CBD.  Again, if you are lucky enough to be in this situation you will have enjoyed the capital growth which has occurred in these areas over the past 20 years.  This trend will probably not change in the future.  The inner suburbs will only continue to increase in popularity as the need for convenience to the city centre continues.

Does it not make sense therefore to build a brand-new home on your current block increasing the potential for even greater capital growth with, of course, the added advantage of being the stand-out house on your street?

I love my area and have lived here for years

Apart from all of the logical financial and practical arguments already listed, for some people the biggest advantage of demolishing and re-building where you are is that you just love your area, have lived there for years, know all the neighbours and don’t want to leave… and now you don’t have to.

Here at DIG IT, we are experts in home demolition and would love to help with your project, please get in touch with us for a free quote or to discuss your requirements.