One question that our team at Copper Brook often receives from our clients is, "should I renovate or build a new home?" While it may seem more affordable to remodel your home to make it new again, renovation often comes with hidden costs that could make building a new custom home the best solution. Before you hire contractors to start changing your existing home, it's important to learn why renovating might not be as inexpensive as you think. Here are some things to consider while deciding between renovating versus building a new custom home.
When you build a new home, you get exactly what you want. There are no supporting walls to work around, no foundation problems to address, and there are no existing problems to the electrical or plumbing systems. When you renovate an existing home, a simple remodel can quickly expose many of these problems and more.
Tearing open walls and removing kitchen appliances often exposes a myriad of issues, some of which are very serious and even dangerous. Older homes with asbestos insulation, lead paint, dilapidated plumbing pipes and electrical wires will all need to be safely removed and replaced before any renovations can begin. Some issues like substantial foundation deterioration may not even be repairable if the damage is too extensive. The worst part is that none of these issues can be foreseen in advance. It is only when the renovation crews start removing old finishes, cabinets, ceilings, etc. will these issues be apparent.
Small renovations like new interior paint, carpet replacement and upgrading your kitchen cabinets can be done cost effectively, but beware of more substantial improvements. Renovating a home isn’t as simple as making a few changes and calling it good. Any work that’s done must be up to code, which can add thousands, if not hundreds of thousands of dollars to your estimated costs. Depending on the structural issues found in your home, there’s a chance that the cost of necessary renovations you need won’t justify the expense.
The most important question to ask yourself before deciding between building a new Calgary custom home or renovating is whether you’d like to remain in your current neighbourhood. If you enjoy your current area and would like to remain in your old home, consider how much work needs to be done. You’ll end up paying less money for home renovations if you only need minor adjustments to improve your property.
Our experts at Copper Brook can inspect your home to help you decide if it is structurally sound and worth renovating. Otherwise, you may end up finding additional problems that require extensive upgrades. The more renovations and remediation that are needed, the more likely that the cost of renovating will rival the cost of building a new home. The money earned from selling your existing home is often better invested in a new custom home, rather than make renovations that won't increase the value of your property substantially.
If your home is relatively new, the layout is still functional and you won't be making major structural changes, then it might make sense to renovate. If you find your old home no longer fits needs of your current lifestyle and want everything brand new and exactly the way you want it, then building new is the best way to get your dream home.
Whether you make the decision to remodel your existing home or build a new custom property, you need a luxury home builder you can trust. At Copper Brook Homes, we bring professionalism and expertise to every project. We'll work hard to turn your ideas into the home of your dreams. Contact us today to discover how we provide exceptional service throughout the process of remodeling or building your custom home in Calgary.