Choosing between making a major renovation or building a new custom home is a process our homeowners sometimes go through. Depending on your future goals for your home, your location, your desired budget, and the time you want to invest in your project, one option will provide you with more advantages than the other. As experienced Calgary custom home builders, we have compiled this list of top things to consider when you have to make this decision.
Think About Your Future Plans
Think about your primary motivation for renovating your existing home. Are you renovating to increase your home value because you want to resell the property? Alternatively, are you renovating to have a more suitable space for you and your family? Check out the 3 Main Reasons Homeowners decide to do Major Renovations if you are not still sure of what is your main goal.
Frequently, our homeowners' primary goal is to do a major renovation that can increase resale value. If that is your case, take a look at our article Top 3 Upgrades that Add Resale Value to your Home. These tips will help you determine if going the renovation route is the best option for you. If you love your home but you need to adapt it to your new needs, plus you feel that you want to keep some of the original details, you will probably think that renovating is the best option for you instead of opting for a new custom home.
Starting from Scratch is an Idea that Motivates You
If you are thinking about staying for a couple of years in the same home and you realize the scope of work for your major renovation is too much, meaning there are too many things that you would change at your current home, then building a new custom home might be the best decision for you. From the beginning of the design stage, you can plan your home to include features that increase the resale value, maximize the use of space, and select durable, environmentally friendly, and efficient materials. Furthermore, when you build a custom home, you can have a modern floorplan and design with energy efficiency in mind, thus reducing energy costs in the long term.
Consider the Costs of Your Ideal Reno and Your Ideal Custom Home
Many people think renovating can be more cost-effective than building a new custom home, but it depends on the scope of work you have in mind and the materials you select. If you have too many changes in mind for your existing home, it is essential to compare the costs of building a new home. You should also account for any unexpected expense that can come from a major renovation project, for example, any structural issue that will increase your renovation budget.
Your Design is an Important Factor
Whether you prefer to renovate your existing home or to build a new one, it is essential to know that you will go through the design phase. During this stage, your builder and design team will create your concept and review the regulations established for your area, work on your permits and provide you with the tools to make selections, work in your interior designs, and develop your final budget.
Ready for a custom build or a major renovation? Contact Sunset Homes today; we are experienced Calgary inner city home builders! We will gladly prepare a free quote and give you more information about our custom homes and major renovations.
Also, check out our beautiful homes and get to read our reviews on Houzz!
Too Long Didn’t Read (TLDR)
When deciding between renovating your existing home or building a new custom home, take into account your goals for the future, the cost and timeline of both options, and the possibility to have an efficient design.