You’ve got an older home and you’re wondering if you should renovate it or tear it down and build a new one. Although this is a very common question, there really isn’t a common answer that applies to every situation. In this month’s blog, the experts at Cormack Construction share five important factors to consider when deciding to renovate or build new.
Should You Renovate or Build New? Five Important Factors to Consider:
1. Structural Issues
One of the most important factors to consider when deciding whether to renovate or build new is the overall structural integrity of your home. But how can you tell if your home has structural problems? Take a good look at it from both the inside and outside and ask the following questions:
- Is the foundation crumbling or lopsided?
- Are there cracks on your interior walls?
- Are your windows difficult to open and close?
“If your home rests on a crumbling or lopsided foundation, I would recommend tearing it down and starting over,” says Pam Clemons-Keith, project manager at Cormack Construction.
Think your home has structural issues? Contact the Cormack team to schedule a free home inspection.
2. Water Damage
If there is water in your basement or crawlspace, or signs of major water damage throughout your home, you may want to rebuild. Why? Because if you have water damage, you very likely have mold, which can be dangerous to your health and costly to remediate. Get a few quotes from mold remediation specialists so you know what you should expect to spend.
Crown molding, pocket doors, built-in storage, and arched entrance ways…These characteristics and rarely found in today’s homes. If you’re set on keeping these original details, you should think about renovating your home. However, keep in mind that not all old homes are worth saving. “If your home is more than 75 years old, you need to look at it with a critical eye,” Clemons-Keith says. Hire a professional to thoroughly inspect your plumbing, water, and electrical systems. If they are in poor condition, you might want to build a new home.
4. Your Budget
When deciding whether to renovate or rebuild, you need to take a hard look at the numbers. A renovation isn’t always your most cost effective option. “Anytime you renovate, you have to prepare for the unexpected—from unseen mold and rot, to electrical problems, to structural issues,” Clemons-Keith explains. “The last thing you want to do is get swallowed up in a money pit, she adds.
5. Historical Value
If you have an historic home or live in an historic district, there may be restrictions on what you can do to your home. Tearing it down may not be an option. And even in situations where rebuilding is permitted, the approval process can be cumbersome and time-consuming.
Renovate or Build New? Schedule a Free Consultation with Cormack Construction.
Clearly, the decision to renovate or rebuild needs to be made on a case-by-case basis. If you own an older home and are thinking about renovating or rebuilding, contact the professionals at Cormack Construction. We’ll help walk you through the decision making process. Contact us today for a free consultation.