Have you and your family outgrown your old home? Sometimes, the most cost-effective thing to do is to knock it all down and start from the foundation. This is referred to as a knock down rebuild project. And, although it seems extreme, it could be the right way to go if you want to build a new home and achieve the property of your dreams.
While knock down rebuild costs tend to be lower than those of a full renovation, cost management is still important if you are to make sure your dollar goes as far as possible. In fact, there are multiple factors that can influence the final price of your project, and you need to keep on top of all of them if you are to make your dream property a reality.
Of course, the price will depend on your chosen home design and any additional inclusions. For example, if you want to build a particularly large home, this is going to be included in the cost. And, including a sophisticated pool in the home design is going to push the expense. But, beyond these obvious points, what else can influence how much you spend when you choose to knock down a home?
While you might think that most of the costs of a project are wrapped up in the construction phase, it is still worth considering how much demolition can cost. The average cost of demolishing a property is in the range of $25,000 to $40,000. As you can see, this is a pretty large variation in price, particularly for larger homes.
Why such a great variation? Well, because there are so many factors involved. The home will need to be surveyed first so that load-bearing beams and structural components are identified, and then permission will need to be granted, all of which costs money. There may also be structural elements within the property that delay the progress of the demolition contractor.
It is difficult to manage these costs. However, you can mitigate them by getting the site surveyed ahead of time so you are fully prepared for what is to come.
For the most part, knock down rebuilds are delivered with no deviation from the original plan. However, if, midway through the project, your circumstances change, or you change your mind on certain key elements, this is going to bring the project grinding to a halt.
Deviating from the original plan will add a considerable amount to the project cost. What’s more, you may need to re-apply for permission from the local council authorities and re-organise things, such as traffic management, temporary fencing, and other elements of the project.
The best way to avoid this is to do just that… avoid it! Plan your project thoroughly beforehand so there are no surprises or other things you want to avoid. This will keep your costs on track.
One of the reasons why knock down rebuild costs stay relatively low is that everything is already there onsite. The land has already been prepared and the utilities are already on site. All that’s left is just the building.
But this is only the case if you stick with this original foundational layout. Once changes are made, costs can begin to grow. Of course, if your needs have changed dramatically, then you will need to factor in these costs in order to get the right results.
To learn more about knock down rebuilds and to discover whether this option could be right for you, get in touch with our team.