Renovating an old house is an appealing choice for many home occupiers and property investors. But before you tackle your next project, consider the advantages and disadvantages compared to building a fresh new home.
Emotional attachment
If you have lived in this house for generations, you might feel emotionally attached to it. Especially if it brings happy memories from your childhood, when all your family lived together under one roof.
If this is you, renovating an old house might be the best option to freshen up the rooms. You can still maintain the architecture and other aspects of your home, rather than building a new one.
Cost
Perhaps the most important factor for many is the cost involved in renovating or rebuilding. A home renovation can cost as little as $30,000 for a small renovation. Or it can reach up to a few hundred thousand dollars depending on the scope of your project.
The first important step is to decide which areas of your home need a makeover. Is it a kitchen upgrade, adding more bedrooms, or a structural change? In many cases, rebuilding from the ground up is the best option when planning a major home remodel.
Timeline for renovating an old house
Renovating an old house can be time-consuming, chaotic and disruptive. Depending on the size of your project, you may need to move out temporarily while the work is in progress.
If you ask your builder, they will probably incentivise you to move out because it saves them time. They won’t need to leave the rooms organised and clean, when they leave at the end of each day.
However, if you decide to live in your own home during renovations, consider that your family will have less privacy if you don’t live in a separate area from the construction zone. Plus, major renovations can take longer than 5 months and can be stressful, especially with children and pets.
Also, consider your tolerance to noise, dust, dealing with tradies, receiving deliveries, and how this busy site will impact your professional life if you work from home. For some people, dealing with all these distractions can result in anxiety, and ultimately it can affect their performance.
The Age of your Home
The age of the home is also a very important factor to consider when planning a renovation or new construction. Doing a complete renovation of an older home can be difficult and expensive, especially if it hasn’t been well maintained, or has irreparable interior and exterior damage.
We recommend to engage a licensed building inspector to assess the property. Their report can provide you with valuable information about the overall condition of the property, and the presence of harmful or hazardous elements that could have developed over the years.
If your home has passed the point of being saved, it would be better off demolishing it to create space for a new modern home that is chemical-free, safer, and infestation-free.
Heritage Properties
Owning a heritage listed home does not prevent you from renovating it or building new structures, as long as the work has been inspected by the local council and carried out legally.
However, If you live in a heritage listed property that has been well maintained, you would probably opt to renovate it, and make some additions to preserve for future generations.
But if the home is not heritage listed, then knocking it down and building a new house could be a better option if you are not restricted to a small budget. You can plan everything from floor plan to fixtures, architectural elements, more natural lighting, new plumbing and electrical, and a better use of your land.
Summary
- Renovating an old house is a great option if you have limited budget or timeline. Make sure you engage a licensed building inspector to assess your old property before starting any work.
- Consider the emotional and physical toll that embarking on a renovation can have. Be mindful that your family will have less privacy, and it will have a certain impact on your lifestyle for the duration of your renovation.
- The age and level of maintenance of your home over these years can affect whether it’s still safe and worth renovating it, or not. If the home has passed the point of being saved, you would be better off demolishing it.
- Rebuilding may take longer than renovating because it involves a comprehensive overhaul. But the process tends to be more structured, and they often prove to be less expensive than full home renovation.
- You can find more information on the heritage register website of your State. In Queensland, go to link https://apps.des.qld.gov.au/heritage-register/