Which is the better option -- do you build a custom home or renovate your existing home? Which is the right choice for you, your family, and your lifestyle?
If you have your dream home in mind, and your current home is not it, you have to weigh whether making renovations will help you achieve your dream. If that is not possible, then know that you have the option to build new, and create your dream from the ground up.
If you are having difficulty sifting through the various elements that will sway your decision one way or the other, consider these nine factors.
1. Your Budget
Money is often one of the first things you think about when considering building a home versus undertaking a renovation project. In some cases, it is less expensive to renovate than it is to build a home. Other times, a new build may be more cost effective. Think about your budget and what you want in your home. Then sit down with a professional builder and discuss your options.
2. Location, Location
If your existing home is in a great location then you probably want to stay and renovate. Keeping close to family, or maintaining school or worship locations may be your deciding factors. If you aren’t crazy about the location and want different surroundings that fit your lifestyle, then building a home may be the way to go. If you opt to move and build, do your homework on the area you choose. Research it well to make sure that you can live there for years to come.
3. Home Value and Age
If you love your home and love the location, plus you are looking to increase your property value, then renovation is probably a good option. The great thing about renovating your home is that it can turn back the clock on your house’s age. This can increase the value of your home in the event you decide to sell later.
4. Layout Options
Not all floorplans appeal to all people. If the floorplan of your home feels a little awkward or is not a great fit for your needs, your best bet may be to build new. Changing the layout of an existing home could be costly due to the structural considerations or limitations of the existing space. Building a new home can be the better financial, and structural, move.
5. Design Freedom
Renovations give you room to design and be creative with the new space in your home, but building your home gives room to express your style across the whole home. Take inventory of your vision and all that you want to accomplish. Talk to your builder to see if it is better to build or renovate to meet your design goals.
6. Your Timeline
Both renovations and new builds take time. Some projects are longer than others though due to design choices, or structural requirements. So if you are working with a timeline in mind, you will want to discuss it with your builder or home renovation company to ensure that they can complete it within your desired schedule.
7. Adding Technology
It seems that everything is going high tech these days, and homes are no exception. If you are looking to add more technology in your home (think Alexa) or high tech (think Smart Home), you will need to seriously consider your options. While many homes can be renovated to accommodate high tech, some cannot. Make sure your tech integrates well with your home – or you may need to build from scratch.
8. Building Codes and Ordinances
Many areas have building codes and ordinances. Mostly they cover new construction, but some actually address renovations to homes. When you work with a reputable builder, they will handle permitting, but they should also walk you through any limitations they’ve found in the process, such as lot lines, height restrictions, etc., that can apply to your renovation, or new custom home on an empty lot.
9. Sentimental Value
Many homeowners may not consider the sentimental value that they have attached to their home. As humans we collect memories, and we gravitate to places and things that evoke those memories. Homes do a great job of doing just that. If you have a sentimental attachment to your existing home and would have a difficult time parting with it, then a renovation could be your answer.
Are you trying to decide whether to renovate your home or build a new one?
It is not a decision to be taken lightly, and it’s a very personal decision. The professionals at Simonini Homes understand that, and they will work with you to find the option that is right for you.
When you are looking for a luxury home builder who puts your needs first, look no further than the Simonini team. They will work with you to find the custom home, or renovation option, that is right for you and your family. Contact Simonini Homes today to start building your dream home – or renovating it!