Nov 21, 2020 8:23 pm
Hi. Just wanted a bit of advice. The 2 storey our family has is currently 15 years old. In good condition, but unfortunatley there are no bedrooms or showers dowstairs (they are all upstairs). We built the home back in 2005 for 210k. We love the area and were thinking to do it all again (this time with bedrooms and showers downstairs plus some other things we would do differently).
FYI, the current house can not accomodate a bedroom or shower downstairs (we discussed with builders and there are too many challenges).
would love some feed back on if we decide to knock down and rebuild say in 5 years time (meaning the house was 20years old)... is that reasonable?
appreciate the advice
Re: knockdown rebuild and when to do it2
Dec 21, 2020 11:10 pm
To me it is all a matter of sums regardless of it’s age, my opinion.
I would factor in:
Can the building be sold off/moved.
How much to renovate to get something satisfactory if possible (usually a lot for what you get)
Can you get another block or old (knock down) house nearby and would still like location. (This is what we did). What would be the all up cost in comparison to get exactly what you want in the build.
What would be the final market values of both options (if this is of concern)
Just a matter of sums. I know we were way better off knocking down an old house in our street and building new.
Hope this helps...
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