10 Factors that Influence the Cost of a Knock Down Rebuild
You’re in the neighbourhood you love, close to those you love, allowing you a lifestyle you couldn’t get anywhere else. But your house is sorely outdated, poorly designed or falling apart at the seams. A knock down rebuild is the solution, and with a good home builder on your side, the result is a comprehensive, well-timed, successful dream home build.
Of course, the primary consideration of any significant property decision will always come down to cost. Sure, you love your neighbours, the distance to school ratio, and the weather where you live – but is it worth the cost of a knock down rebuild to stay where you are?
10 Factors that affect the cost of a knock down rebuild
What costs need do you need to consider before building your little patch of paradise? A knock down rebuild may be more affordable than you think.
Location is one of the biggest selling points in real estate, and by rebuilding a modern, stylish, comfortable, and upgraded home on your perfect parcel of land, you will be protecting your equity, maximising your return, and making the most of your property investment.
Although there are many different factors that make up the cost of a knock down rebuild, remember that it will be well worth it when compared to simple home renovations. Once you review all these costs, you’ll understand more of the financial requirements involved in the project. Then, you can look into how to finance your knockdown rebuild.
1. Existing home demolition
Home demolition is potentially the most significant cost factor that people miss when planning their knock down rebuild. Demolition can happen quite quickly, but the process can be lengthy and pricey.
You will first need to acquire an asset protection permit and permission to demolish from your local council.
Additionally, you will need to shut off all services to the property, such as gas, water, and electricity. Quality home builders will usually organise all necessary permits to protect you from liability and ensure your demolition is above board.
Costs vary per demolition, as will the expected time frame of each step toward completion.
2. The condition underneath your foundations
Elements such as piping have come a long way in the past few decades, and if your sewer or stormwater pipes are old, if there are extensive tree roots or foundational damage, this is well worth repairing before building your new home.
3. Access to the property
Poor access can make it challenging to get large trucks in or haul extreme amounts of rubbish out. In addition, if fences need to be removed or sections need to be dug to demolish your old property or build your new one, this may impact your quote.
4. What’s lurking behind the walls
As good as technology and builder training are these days, it is never fully possible to tell what will be lurking beneath the surface and behind the walls until the property starts to come down.
The presence of asbestos can be one of the main influences on the final price of your demolition. Licensed asbestos removalists will need to come in and remove all external and internal asbestos before the destruction can occur.
5. The design of your new home
You may have been dreaming of your new house ever since you took a chance on the old run-down property with the fantastic view. Or you may love your current place, but you’ve simply run out of space for your growing family. Whatever the case may be, the more extensive and detailed your home design is, the higher the cost to build it will be.
If you’re on a budget, work with your builder to create a design with classic fixtures and simpler layouts.
6. The home’s layout
Are you dreaming of a second level? Or do you want to make your new home an entertainer’s delight with extended living areas?
A functional floor plan can make a home stand out from the crowd and add a unique ease to the daily grind.
Most people choose to knock down and rebuild an old house because it is outdated, cramped or non-functional. Unfortunately, changing a home’s layout is very difficult once the walls are in and the doors are closed. It’s well worth it to set aside a good portion of your budget to nail the design and layout.
7. Costs during the build
Although a knock down rebuild may surprise you with its pace, it cannot happen overnight. Unless you have a willing family with an oversized garage, you will need to consider the cost of a short-term rental or Airbnb, plus the cost of storing and shifting your belongings. Many factors influence the timeframe of a knock down rebuild, but they can take up to 12 months.
Make sure you’ve got plenty of room in your budget for accommodation, so you don’t find yourself stranded.
8. Council fees
You may be susceptible to higher council costs if you are changing the layout of your home in any significant ways, such as adding a granny flat or an extra level.
Your builder should help with any necessary form submissions to ensure your project isn’t delayed and you’re not paying unnecessary charges.
9. The materials used in your new home
The choice of building materials you use can be one of the biggest influences on the final price. It’s important to stick within your budget, but keeping a good portion set aside to use high quality and durable materials will give great long-term benefits.
Substandard materials can result in an increased need for maintenance, repairs and replacement, and their lack of resistance to the elements can have dire consequences.
Ask your builder to help you choose the best quality materials for your budget. This way, your home is built with tried and true materials that will withstand the test of time.
10. Your builder
A diverse range of variables can impact how much your builder charges. From the availability of materials to the demand for labour, the cost of a knock down rebuild will vary from builder to builder.
What does the knockdown rebuild process looks like?
A trustworthy new home builder will knockdown and rebuild your home, while ensuring you know what to expect, every step of the way. Watch this video to see a time lapse of a home built from the ground up by New South Homes in Sydney, NSW.
Choose the right home builder for your knock down rebuild
By going with an experienced, in-demand and local builder, you will be setting your new home up for the best chance of success. At New South Homes, we offer the endless benefit of having everyone that you will need for your knock down rebuild, all in one place. We’ll offer expert tips on how to finance your knock down rebuild and what knock down rebuild budget costs to prepare for in Sydney.
Architects, designers, builders, project managers, administrators, and customer relationship managers harmoniously combine to give your knock down rebuild the attention and dedication it deserves. Receive the best possible service and get the best of both worlds with your next knockdown and rebuild.
To discuss your knock down rebuild needs or to find out more about your potential costs, give us a call on 02 9481 7441 or click here to get in touch.
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