Once upon a time, it seemed ludicrous to knock down a perfectly good house and build a new one in its place. Why go to all that trouble when you could just sell and move to another home? Well, in the modern world, attitudes have shifted considerably, and a knockdown and rebuild is now an extremely attractive option for many Kiwis.
In fact, many builders like us are doing more knockdown and rebuilds than ever before. With cheaper demolition costs these days, coupled with all the other benefits, here’s why so many New Zealanders are opting to stay put, and still get the new home of their dreams.
What is a knockdown and rebuild
A knockdown and rebuild is pretty much just what the name implies. It’s a great option if you already own or have a mortgage on your existing house and land, but your home no longer suits your needs. Rather than going through the expense and hassle of selling your home and buying a new one, you simply knock the old one down and start again. A new home built on the land you already own.
Many Kiwis are finding this to be a more cost-effective solution than packing up and moving to a new area. So, if you want your dream house but don’t want to move, here’s why a knockdown rebuild is a great option.
The benefits of knockdown and rebuild
Does anybody really enjoy moving house? It’s a time consuming process, costly, and often a major hassle. But avoiding all the packing and heavy lifting isn’t the only reason people choose to knock down and rebuild. In fact, you’ll still need to pack up and move temporarily while your new home is built. Let’s take a look at the real benefits of knocking down and starting all over again.
No requirement to purchase land
Firstly, if you already own the land, you don’t need to go shopping around. Think of all the expenses associated with a new land purchase, before you even think about the building process. You’ll probably need lawyers, finance brokers, a stack of paperwork, plus any land you buy is going to be priced accordingly for a real estate agent to get their cut. Why go to that extra expense if you’ve already got a parcel of land you love?
You already love the local area
If you hate the area you live in, naturally you’ll want to look elsewhere. But many New Zealanders love where they live. It’s simply a matter of families outgrowing their existing homes. You know the neighbourhood, you and your family members might be involved in local clubs or sports teams. You’re familiar with all the shops and services. So, if you already love the local area, why move? A knockdown rebuild lets you stay in the area you feel comfortable, while getting a new home that better suits your needs.
Keep your kids in the same school
When you move to a new area with kids, the school factor is a big one. Depending on where you live and where your children go to school, there may be zoning restrictions. That means if you don’t live in the local area, your kids can’t go there. So, on top of all the other hassles of moving, you also have to find a new school and your kids have to leave their friends behind and start again. It’s a disruptive process and one that kids rarely enjoy. Even without zoning considerations, if you move too far away, it may simply be too difficult logistically for your kids to travel to their old school.
A fresh start is better than extending
If you’ve got an older home and you need more space, building an extension is a possibility. Add an extra room, or even a whole extra storey. While this can sometimes be a good idea, there’s plenty of problems. Firstly, keeping the style consistent is tricky, so you might end up with an extra room that looks totally out of place. Secondly, consider all the plumbing and wiring in your home. It’s not likely to be in peak condition anymore if your house has been around a while.
Knocking down and rebuilding lets you start fresh, with all new plumbing, wiring, fixtures and design.
Most importantly, you save money
Perhaps the biggest reason to consider a knockdown and rebuild is the financial cost. If you think about all the expenses of moving, it adds up pretty quickly.
- Real estate fees to sell your house
- Moving costs
- New loan and bank fees
- Legal/conveyancing expenses
- Cost of purchasing new land
- Buying a home at an inflated price to cover the seller’s real estate fees
- Land Information Memorandum and building reports
Most of these costs still exist whether you buy an existing home or buy land and build on it. So, when you compare all those extra expenses to the cost of demolishing your old home, it makes perfect sense to consider a knockdown and rebuild.
You can get the home of your dreams, in an area you already love, and save yourself a huge amount of time and money in the process.