You probably loved your home when you first moved in, most of us do. But, you will still have made some changes to make the space more personable and practical. Unfortunately, your needs and tastes change. That means your home can look tired after a few years of living there.
If you need more space, find the current layout annoying, or simply want a change, then you have two options. You can remodel your existing house, turning it into your dream home, or as close as you can get. Or, you can build your dream home. There are some excellent companies, such as this specialist in custom-built homes, that will help you complete the project.
It is even possible to knock down your current home and build a new one on the same site.
Cost Analysis
If you remodel then you are likely to see cost savings of approximately 20% over building a new home. That’s a substantial saving. If your desire to improve your home is defined by monetary boundaries then remodelling is the cheaper option and should be pursued.
However, while remodelling can transform a home, it is limited by the current size and shape of the home and the rooms. This isn’t an issue when you look to build your own home. That’s why you need to consider other factors as well as money.
The Design
Because you will be in charge of the project you will be able to create any layout you want and make the home as big or as small as you need. You can also choose to rebuild your existing home or purchase a new plot to give you the space you need in the right location.
In short, building a custom-home will give you the opportunity to create a dream home that you can live in for years to come.
Hassle & Stress
Having your home knocked about in front of you can be extremely stressful, especially if you’ve lived there for several years and are attached. But, if you opt for a custom home you’ll need to live somewhere else while the work is done. This can be useful in that it removes you from the site and allows you time to de-stress.
If you opt for a remodel then it is likely to take place while you are in the house. That means you’ll be living on a building site. Many people find this hard or impossible, leaving you with the option of living somewhere else although this will increase your costs during the remodel.
The Bottom Line
Choosing to remodel is almost certainly going to be the cheaper option and the work should be done faster. But, building a new house allows you to control every aspect of the design and create a home that suits your needs and lifestyle. Of course, building a property involves significant financial commitment. Before you can start you’ll need to review your finances and make sure you have the budget for it.
