15 Oct So you bought a property that needs fixing up?
It’s human nature to look for potential within a bargain. If you’re not building your perfect home, you are more than likely looking to buy an existing property. People look at properties in different ways, some people want something which fits most of their criteria, decorated to a high standard and is ready to live in immediately; others might look for properties with potential, something that they can put their mark on and requires work in order to fit their requirements.
Traditionally the latter will be slightly less expensive than the former but you will find yourself making compromises. Buying any pre-existing property will have you compromising; they say there’s no perfect home (unless you build it).
The fact is, you have options when looking at your next home – we would be more than happy to run through them with you.
Rebuild or Renovate?
If you’re asking yourself this question, you’ve probably picked up a bargain of a property which needs some extensive work, in order to make it work for you and your family. So, which is it? Rebuild or Renovate?
Obviously, the answer is entirely dependent on your individual circumstances, but when looking at a major renovation vs. a complete rebuild – you may notice that many of the project steps are the same. You will need to make sure that the project is feasible, draw up a brief, make sure you have funding in place and bring in the right people to undertake the work.
We might be biased but when you’re weighing up the pros and cons of a renovation or rebuild, make sure you speak to a professional to help you identify some of the key factors of which you may not be aware. We would love to step in and help at this point as we are experienced in these kinds of projects.
Before you start on this long road, ask yourself some questions and have clarity on your objectives. However confident you may be, it doesn’t hurt to thoroughly analyse your motives.
Here’s a good place to start. So, what are the most common reasons to refurbish or renovate your home? A renovation is a great way to give an older house a modern makeover. From installing new fixtures, upgrading appliances, or even updating your plumbing. There really is no need to tear your house down if you’re only changing its appearance.
Even if you’re planning to make major changes to the property, keeping the basic format of the building can work out considerably cheaper than a complete rebuild which includes new footings and external walls.
It can also be slightly easier to get planning permission for ‘alterations to an existing building’ as this can sometimes fall under ‘permitted development’. Planning permission for an entirely new house can be more challenging than alterations as the latter is usually the path of least resistance.
When should you rebuild?
As expensive as they can be, houses can’t last forever. Many of the homes now available on the open market were built between the late Victorian period and the mid-1970s. They were designed and built for very different generations, with completely different expectations in terms of lifestyle and comfort and with very different materials from the modern, energy efficient equivalents.
So why rebuild a property?
The property format. You may feel as though the property doesn’t fully utilise the plot on which it is built. Perhaps the current layout means that there are parts of the property which won’t be used, or maybe you need more space in general. Rebuilding your property on the plot will give you more flexibility to create a suitable living space.
The environment. Modern technologies and materials can make your property far more energy efficient than an older home. This long term solution will improve the quality of life for those living in the property as well as helping to reduce the property’s carbon footprint, ultimately doing some good for the environment.
The financial angle. Modifications to an existing building are generally subject to full VAT, while new-build projects are zero rated for VAT.
It’s so shiny. The reality of it all is that people like new things. Knowing that your home has been rebuilt to high modern standards and to your taste, gives you the peace of mind to really enjoy your new space. With warranties and guarantees in place, you have the security of knowing that you won’t be facing any hefty maintenance bills if/when something goes wrong.
Get in Touch
If you would like to schedule in a call to talk about your property options and how to build your dream home, please contact us on 01753 392 410 or email us. You can also find us on Facebook, Twitter, Instagram and LinkedIn – we would love to hear from you.