Deciding whether or not to demolish or renovate a home is something that has always been debated by many homeowners, mainly because the subject of cost is the main factor that always seems to come up no matter what – and it typically turns out to be quite large as well. There are also other equally important factors that can affect this kind of decision, and regardless, the final decision is one that never seems to be easy to make.
These factors include the following:
- Historical significance
- Building condition
- Considerations in terms of eco-friendliness
- Potential setbacks involving demolition
How Much Does Demolition and Rebuilding Cost?
Despite what you may have heard or been told, it doesn’t cost much at all to demolish a home. In fact, the average cost is just under $9,000; however, the final cost will depend on factors such as the following:
- House size
Completely demolishing a house requires a great deal of planning, as well as all of the proper permits and preparing the demolition site itself. The real issue involving cost going up comes with rebuilding. Factors that can influence this include the following:
- Site work
For example, a home measuring 2,000 square feet and containing even the most basic features can cost upwards of $70,000 or more to construct, sometimes more.
How Much Does A Home Remodel Cost?
Remodeling your home is often a more viable alternative to demolishing it and constructing a new one; however, while this is generally the more affordable option to go with, this is never always the case with some homeowners.
In terms of cost, this will depend on factors such as the following:
- Choice of contractor
Furthermore, the total cost of a renovation will often increase as the project itself continues, especially as new issues tend to be discovered. For example, tearing away drywall could lead to the discovery of problems such as the following:
- Leaky pipes
- Rotting wood
- Cracked foundation
- Damaged wiring
An inspection is always a good option to go with prior to beginning any renovation project, as this will end up saving you a great deal of money in the long run since you will generally have a better idea of what you will be dealing with.
Five Things To Consider
- If you have a home that’s historically significant, these generally cannot be demolished without first going through all of the proper channels with local, state, and Federal governments.
- If you demolish a home, there may be local codes in your area of residence that expressly limit how a new home can be constructed. These should always be followed.
- Staying in a home while it’s being renovated can cause harm to individuals suffering from issues such as asthma or other breathing-related health problems.
- Homes that are newly-constructed will generally be much more eco-friendly and energy efficient than homes that are renovated.
- Renovated homes typically require contractors to return to them at a later time to perform general maintenance.