How To Determine Whether Renovating Or Rebuilding Your Home Is The Right Move

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How To Determine Whether Renovating Or Rebuilding Your Home Is The Right Move

Over the years you might find yourself in a home that isn't quite the right fit for a number of reasons. Maybe your family has grown and space is tight, or perhaps your tastes have changed and your house no longer reflects them. Whatever the reasons are, there are many factors to consider when deciding whether it is time for you to renovate your home or build a new one. Of course, the decision ultimately boils down to what makes the most sense for your family and budget, but some things can help you make a more informed decision.

Renovating or Custom Rebuilding: Which Is Most Cost-Effective?


When it comes to constructing a home, the decision often boils down to the most cost-effective option. Of course, this can be difficult as many factors come into play. But, there’s no doubt, when deciding between building and renovating, money matters a lot.

The Cost Of Rebuilding

If you want to build new, then you can expect to pay more for the privilege. Of course, you’ll have a clean slate starting from scratch when it comes time to build your dream home, but with that freedom comes all of those other costs like site work, utility hook ups, and construction materials. A major benefit of building a custom infill home, or rebuilding your dream house on a peice of land you love is that it's easier to calcuate your possible future return based on what new homes are going for in the area, or city you live in. For example, in Kelowna in 2021 the home cost per squre foot will vary greatly due to a number of factors, but you can get a clear idea based on what is happening in your neighbourhood before you build.

The Cost Of Renovation

The price of renovating an existing building can be substantially less than a new build, sometimes even cheaper per square foot. But with a home renovation comes the risk of what you may find when you start removing drywall and tearing out bathrooms. If your home is older you need to prepare for the possibility of finding something that was not planned for. Another big consideration of a renovation, remodel, or extension is often there will be upgrades that need to happen to bring your home up to code by the City - so factor those costs into any renovation plan too!

A benefit of a custom design renovation is you can have the feel of a new home again without having to completely rebuild and start from scratch which reduces the timelines to completion drastically. Another big benefit to renovation over building new? Depending on your personality, you might find that working with a custom builder for a home renovation to upgrade what you already have feels like a smaller task, and therefor more enjoyable than the idea of starting from a completely blank slate for a home build.


To Renovate, or Build New: Consider your Timelines


When deciding what route to go to get your family into a new and updated space, a big factor to consider is the duration of the project. It goes without saying that rebuilding your home will be greater in time than that of a renovation due to the sheer amount of work that needs to be executed. Firstly, the planning stage can take anywhere from 3 to 18 months depending on the intricacy and scale of the project. After design and planning is finalized, and permits have been approved, your home builder can then begin carving out a site and foundation for the building with new construction from the ground up, complete with finishes.

Should you choose to renovate your current home, there are many time saving options that work in your favour such as a big decrease in planning time, shorter permitting applications, your utilities are already in place, and most often the work that needs to be done is superficial - meaning less coordination therefore getting you into your home faster.

In comparison to rebuilding, even the most elaborate custom design renovation is without a doubt the faster option. In addition, it is often more cost-effective to renovate an existing building than to build a new one because planning and construction costs can quickly add up. It may not make sense in certain situations, but for the most part, this will hold true. After all, time is money!


Which Option Creates A More Functional & Attractive Design?


If you are looking to design a home that will impress, consider how its appearance communicates the mood of those within. Whether sleek and modern or plush with soft furniture, an aesthetically pleasing house can convey a number of feelings at first glance. So, when debating between two options for your construction project--be sure to choose one option whose looks align well with what it's meant to communicate.

Renovating a building is often the best solution, but it’s not for everyone. With renovations, you can be limited to what an old structure provides in terms of space and architectural design elements. The possibility of an extension, expansion or layout remodel are always there, however, with a new construction you can plan your home how you want it from the get-go; You can build your vision from scratch when constructing something brand-new so that everything will be exactly how you want it - size, layout, and energy efficiency included.


Build vs Renovate: The Verdict


Whether you choose to rebuild or renovate an existing building depends on your project's scope and your hopes and plans for your new home. New construction gives you more control of the design, but it could also be costlier and take longer than renovating a moderately old one. FLR Custom Homes Kelowna can help many clients make this important decision, weighing out the pros and cons, along with realistic estimating and timelines, a thorough consultation to talk about your needs and goals can find the right path for you. Call our team at (778) 721-5791 or by filling out the form below.

Frequently Asked Questions

There are many factors to consider, including property assessment values and the state of repair for your current structure. A custom home renovation, or remodel, can restore your home like new again and offer up considerably less time for planning and construction. Using a home builder like Kelowna Custom Homes to guide you through this phase will ensure it meets all expectations from start to finish.

Rebuilding, or building an entirely new home, is the perfect option for you if you feel as though your current home and property cannot accommodate everything you have in mind for the next 10-20 years. Whether its size, or design elements a new home will most likely then provide you flexibility in the planning process as you can purchase a lot, and choose a floorplan based on your specific needs for your family.

Renovating is an excellent option if:

  1. You love your neighborhood
  2. You don't want to relocate your family
  3. The idea of new build doesn't excite you
  4. You have a shorter timeline to completion
  5. You like your home but the building needs repairs, updates, and possibly an addition

A custom renovation can help to fix the distress in your home and allow you to update and add what you like, all while retaining the features that you want to keep the same.

Live The Okanagan Dream

Life in the Okanagan means idyllic lakes, lush orchards, stunning views, endless skies, and the opportunity to live your best life. If you are ready to build the home of your dreams amid the abundant beauty that can be found here, connect with FLR Custom Homes today. Share your vision for your perfect home and together let’s make it happen.

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