Anderson says remodeling makes sense if a few low-cost projects can create the home you want. Otherwise, he believes that building a new home might be cheaper. New buildings are cheaper if it's just one of the two rooms, they're less disruptive since homeowners don't have to uproot their lives and add value to the existing property. Building permits and inspections increase the cost of a custom home and affect the schedule from planning to completion.
Be sure to research the zoning and permit laws in your city or county before starting work, either to remodel or rebuild. If you plan to stay in the house for the long term and then sell it, it's generally wiser to tear it down and rebuild it, at least from a purely financial perspective. Not limited to simply changing cabinets, finishes and floors with a remodel, design and construction firms are experts at reconstructing and customizing the space within the home itself. Building a house will take longer than a home renovation project because the land must be excavated, leveled and compacted before construction begins.
So what's the end result? Is a custom home cheaper? Or can you save money remodeling an older home? With an entire home remodel, you get much more flexibility in what you decide to remodel and what you'll leave as is to save on costs. A new construction promises a glamorous new floor plan adapted to your vision, but the renovation could be enough to give you what you need in your current home. One way to estimate the cost of remodeling an entire house is to add up the remodeling projects in the “Cost vs Value Report” by Remodeling magazine. When it comes to deciding whether to build a new home or remodel the current one, it's not an easy decision.
But if moving isn't an option, read on for tips on how to determine if remodeling or rebuilding is best. It requires careful collaboration between you and a team of architects, builders, and even interior designers. Let's say you're deciding between tearing down and rebuilding or remodeling the interior of your home to fit your needs. Kelly Bacon is a licensed general contractor with more than 40 years of experience building, building and remodeling homes and commercial buildings.
However, when you're building a house (and if you're going to demolish the current one), you have to consider pre-construction costs that aren't necessary for a remodel.
