If it’s time to upgrade your home, you’re probably contemplating a renovation vs a whole new remodel and wondering which is the best option for you. Before making a decision, it’s good to be aware of all the considerations. For instance, which option is more cost-effective and less time-consuming? To help narrow it down, we recommend you speak with an experienced home renovation architect who can help you understand the best way forward for your home.
Which is the Most Cost-Effective?
This depends on the design of your current home and what you want the end result to be. Many people think that new builds are more expensive, but that isn’t always true. For example, if your current home is two bedrooms, two bathrooms with no garage, and you want to remodel it into a four-bedroom, three-bathroom home with a large garage, there may be space limitations on your current property that make selling and building from scratch the most cost-effective option.
The Price of Building New
If you decide to build new instead of renovate, here are some of the costs you’ll incur:
- Contractor fees
- Architect fees
- Building permit fees
- Materials, including the foundation, the frame, and the roof
- Time and labor fees for the construction workers building your home
Because new builds are highly customizable, overall costs will vary greatly. An experienced architect can give you an idea of what you can expect the overall cost to be based on your design style and preferences.
The Price of Renovations
The golden rule of renovating is to always expect the unexpected. While your architect will work within the existing parameters of your home, unplanned surprises often pop up, like harmful building materials that need to be replaced, or an aging plumbing system that no longer supports your home’s needs.
The price of a renovation depends on what your plans are. You might want to add floor to ceiling glass windows across one side of your home, or perhaps you want to build a garage, or maybe add a second story for your expanding family. Whatever the case, seek advice from a professional to understand if what you want is within the realm of possibility.
How an architect can help with building new or renovating
An architect can inspect your current home then have a conversation with you about the changes and additions you want to make. They’ll then be able to explain what’s possible, give more cost-effective alternatives if needed and help you make a decision about renovating vs. remodeling that works for your timeline and your budget.
Which Has a Quicker Project Duration?
As mentioned above, there is no one-size-fits-all answer. The timeline depends entirely on your current home combined with the extent of the work that needs to be carried out. As always, it’s necessary to factor in extra time for any unplanned surprises, like an outdated wiring system, faulty HVAC unit or increased lumber costs, which will add a bit of time onto your project timeline.