Hi
Newbie here. Been reading/researching but first post.
We are in a pickle with which way to go..renovate, build or buy established.
Scenario
Have - 3br home with rumpus abt 20yrs old. Starting to need some maintenance such as repointing, roof tile pressure clean, new guttering, pergola rebuild, mostly external. Internal mostly all fine we gave a fresh lick of paint late last year. Some floor tiles cracked, carpet getting grubby probably needs replacing. Garage is converted carport which has very low roof line and no internal access. It is drive through though and have a shed which we could use as garage (not ideal). Land 800m2 in good area close to schools, shops, pools and transport.
Need - work from home and need a quiet study/office area, need to address maintenance above, would like a usable garage and remove current shed pergola/alfresco off room addition.
We can afford to build BUT decent land size is difficult to find and new estates are becoming cramped with cheap rentals. Buying established will likely mean we can get a bigger block in better area but not all the bells we would tick should we build. Also would need to swallow stamp duty cost.
Renovation and possible extension/new garage would not be cheap. Broker suggestion financing would be difficult unless we went all out with builder (no DIY).
Knock down and re-build would over capitalise.
We are favouring staying put and renovating but concern about the cost and the fact we still have a 20yr old (albeit solid) house but doesn't have the energy rating of new/er builds and latest floorplans.
Obviously only us can make the final decision but interested in thoughts or if anyone had similar predicament.
Also if anyone knows a builder in Melbourne West that would take on in adding a room, adding/removing internal wall and perhaps a garage. Remove carport and shed.