Is your home starting to show its age? Perhaps it’s had a few additions over the years and the cracks are starting to show. Maybe there’s a long to-do list, from plumbing to structural work to painting. For many homeowners, this is the point when they choose between pouring money into fixing their existing home and starting afresh. And it raises one big question: how much will it cost to knock down and rebuild in Sydney? It may be surprising to hear that the cost per square metre can actually be cheaper than renovating.
Comparing renovating costs versus knock down and rebuild costs in Sydney
It’s worth considering the costs on either side of the decision. On one hand, renovations can quickly become expensive, with no guarantee of a polished finish. Some home owners might face quotes of $10,000 or more to resolve a major plumbing issue, while a new kitchen can cost between $12,000 and $20,000 on average. Kitchen and bathroom remodels are common in older houses, and both of these projects can take a significant budget to complete professionally.
When making the choice of knocking down and rebuilding, there’s the cost of demolition and the cost of designing and building to factor in. Demolitions can typically range from about $10,000 to $15,000 to clear your land, while your custom home budget will be entirely up to you. There may be professional costs for the testing, safe handling and disposal of asbestos, if it is present on your property. There can also be some costs of living elsewhere while your new home is being built.
The upside is, that in working with a custom home builder you’ll be moving into a stunning new home that is entirely bespoke. You’ll have living spaces that are designed for your family and the way you love to live. You could have plenty of storage, from walk-in closets to spacious pantries. You’ll also have a home that uses your block of land to its full potential. That can eliminate a range of problems that an existing property can have – from awkward garage entries, to living spaces that cost a lot to heat because of their poor design.
The other benefit – and one that our clients love – is that by knocking down and rebuilding, you’ll be living in a clean, bright and welcoming house with no major maintenance required for a long time to come.
Factoring in emotional costs
There can be another, less tangible cost to renovations and rebuilds, and that is the potential emotional toll. The time and energy spent on finding and vetting multiple renovation contractors and monitoring their work can be draining – and doing renovation work yourself is a whole new level of tiring!
Building a new home also requires working with a team to realise an end goal, but by you can experience a smooth and stress-free process. At Wincrest Bespoke we have a dedicated project manager on each build who is your main point of contact for our services, and our team provides a fixed price for the project to provide peace of mind. From design to finish, you can rest assured knowing we’ll guide you through the process without pressure or hidden costs. That feeling in itself can be invaluable.
To get started, why not arrange an initial onsite inspection with Wincrest Bespoke and explore the possibilities for your property?