You love the neighbourhood but not the house you are living in, what do you do? Well, most people will either think about getting their house renovated or remodelled to suit their changing requirements, taste or social status. That is why the trend of custom homes in Adelaide is gaining popularity. Taking this decision is not easy. You have to consider your family’s requirements as well. So, one question arises: should you renovate your house or build a new home in its place? Most people think renovation and remodelling are the same. Both mean making improvements to the existing structure but there is a significant difference between them. Knowledgeable home builders in Adelaide can help you decide which one is the best choice for you.
What is renovation?
Renovation simply means restoring a home with a fair amount of repair. Sometimes the house is so dilapidated and badly maintained that it cannot be renovated. It has to be knocked down and built again. In comparison to remodelling, renovation is subtle. It means making improvement in the existing building or home, more like replacing old things with new.
What is remodelling?
If there are drastic changes in the structure and appearance of the building or home then it will be considered as remodelling. Remodelling transforms the design and layout of a house.
When is remodelling considered as a new construction?
In order to obtain builders risk insurance, it is important to understand the difference between remodelling and new construction. If any loss occurs during construction activity, it is covered under builder’s risk insurance. As per the policy, the building that is built from scratch is considered as a new construction. Insurance is available for remodelling projects when they include major structural renovations or knockdown the house and completely rebuild the property. Remodelling insurance policy must clarify whether it includes the existing structure or specifically cover only the renovated part.
What is structural renovation?
There are several types of renovations. Applying new paint on the wall or changing the carpets is considered as cosmetic renovation. When a home goes through major makeover, it is considered as a structural renovation. It includes changing the floor plan of the property or moving walls. Generally, people with old style properties that have outdated layouts opt for structural renovation in order to create more space inside the house.
Types of renovation:
Before making up your mind whether you want to renovate your house or remodel it, it is important to understand different types of renovation. There are major four types of renovation: Basic, curb appeal, value-added and personal preference.
1. Basic renovation: What do you expect when you purchase a home? A leak proof roof, well-functioning gutters and downspouts, dry basement, working furnace, solid floors and walls in good condition. These all are part of basic renovation.
2. Curb appeal: Everything that makes a house look good without spending much money is part of curb appeal. This includes manicuring the lawn, low-cost landscaping, fresh paint on the inside and outside walls, carpet cleaning and some new fixtures.
3. Renovation that adds value: If you want to sell your property for higher cost, you have to invest some bucks first. This calls for renovation that can add value to the cost of your property. This includes new siding, renovating the kitchen, new windows, upgraded bathrooms, refurbished decks, etc.
4. Personal preference: It sounds fancy to have a swimming pool, tennis court, hot tub, wine cellar, or basement game room in a house. You should be aware that this hardly adds any value to your property as many buyers may look at it as a high-maintenance hassle or safety hazard. A larger garage would attract more buyers than a swimming pool. So, in personal preference renovation, you can thoughtfully alter these amenities that you might like but others are not willing to pay for it.
The difference between renovation and new construction:
Staying in a good location but in an outdated, non-functional house leaves only two options for the home owner- Whether renovate the house or knock it down and rebuild a new one in its place. Understanding the difference between renovation and new construction will make it easier for you to decide which option is the most suitable to you.
- Renovations cannot happen without disruptions. If your family is too big for the house and you need to incorporate major construction changes then it is better to build a new house rather than spending a huge amount of money in renovation.
- Renovation cannot make an old home new. Even after renovation, the condition of the house will deteriorate if it is too old. This is not the case with building a brand-new home.
- Renovating home does not necessarily mean that it will add value to your property.
- Building a house from scratch means that everything will be the way you want it. Even if you make major structural changes in renovation, it can never replace the feel of a new house.