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What is a knockdown rebuild?
A knockdown rebuild is when you knock down an existing home and rebuild a new one in its place. There are a number of reasons people choose to do this, such as avoiding real estate and government fees associated with buying and selling homes. You also avoid the hassle of moving, you can keep your kids in local schools. Plus, it gives you an opportunity to buy land in popular locations, for example, buying the worst house on a good street and building your dream home there instead.
Let’s look at some of the key reasons this can be a smart move.
Stay in a location you love
If you like the location of your home, but think it could use some updating, consider knocking down and rebuilding. The main benefit here is that you get a brand-new home. You can have a custom home designed or built off the plan with your preferred builder. But you’re certainly not limited, so you can build a house that perfectly suits your needs.
In some cases, it might not be a matter of staying where you live, but moving where you want to be. Many people have specific areas they want to live in, but if there are no suitable houses or land available, it can be difficult. You could potentially buy a cheap house in a desired location, especially if the home is already a bit run-down. It’s a good way to snare a bargain, and then you can remove the old house and build yours in its place.
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Avoid the hassle of moving house
Moving house is never fun, but it’s often something you have to deal with. When you knock down and rebuild homes, especially a home you currently live in, some of that hassle remains. You obviously need to pack up and store your belongings while finding alternative accommodation for a period. But you don’t have the other complication of moving cities, finding new schools or adapting to a new environment.
Plus, depending on the land size, there are potential options to hire a shipping container for storage. If this is possible, it cuts down the hassle and expenses associated with moving and storing your belongings.
Increase the value of your property
The reality is if you currently live in an old, tired, run-down home, or even if you buy a home in poor condition, it will never be worth top dollar. Plus, older homes are usually poorly insulated, offer terrible energy efficiency and don’t include a lot of the modern conveniences you’d expect from a new home.
So, even with the expense of demolition and rebuilding, you can still add significant value to a property if the land is in a desirable location. You could even consider knocking down one home and building two smaller ones, keeping one as an income source. There are just so many options when you knock down and rebuild.
Plus, if your financial circumstances allow, you could build the dream home you’ve always wanted. You don’t have to settle for a house that was built for someone else. Make it truly yours, and as long as the location is good, you can expect it to always be worth a decent amount of money, even in market fluctuations.
Want to explore the option to knock down and rebuild?
If you agree with some of the reasons why knock down and rebuilding is a good idea, we’d love to help. Avondale Homes specialises in modern home designs that suit your needs. From small homes to large acreage properties, we’ve got designs for everyone. Plus, we can also build the custom home of your dreams. Contact our friendly team today to find out why so many people choose Avondale Homes.