Is your home keeping up with your lifestyle?
If not, should you Relocate, Renovate or Rebuild? It happens to most of us.
One day you wake up and realise you are living in a home that no longer suits your lifestyle.
It could be because your home is starting to look the worse for wear, or maybe it is just that you crave more natural light, or perhaps your old home is just not coping with the strain of a growing family. You may have even found you need to accommodate an elderly relative.
Whatever the reason, you know something has to change.
Your first thought might be to move – but Sydney's eye-watering house prices surged in 2021, and a recent report is warning there will be more rises on the way.
To make it worse, there is a city-wide shortage of new building blocks, with claims by the Development Institute of Australia (UDIA)* that the NSW government has been too slow to release land so that homes can be built.
And if you do move, there is one thing you cannot guarantee – good neighbours.
Staying in your neighbourhood allows you to hold on to priceless connections within a community that you and your family know well.
When you love your street, and the neighbourhood has everything you need – great schools, cafes, parks, and amenities – then staying put and building afresh is extremely attractive.
Ultimately the decision may come down to whether you renovate, or knock down your home and start again, but how do you decide?
Making a list of all the reasons your home is not working for you is a great place to start.
If your list of changes grows longer and longer, or you realise that major structural alterations to the footprint of your home are needed, then a knock down rebuild may be an even better idea.
One of the best benefits of a knock down rebuild is that you get to create the perfect home for your lifestyle, now and in the future. This could include incorporating a granny flat for teenagers, elderly relatives or as a source of income. Alternatively, you could build a new duplex home – live in one and rent out or sell the other.
Featured Home Design: Palace Regent, HomeWorld Box Hill
If you want to experience the luxury of living in a home where everything is new and designed just for you, see Allcastle Homes. Often for less than the cost of a renovation, we can build you a beautiful, brand new home from top to bottom with brand new everything!
Together with an Allcastle Homes consultant, you can create a dream home that caters to all your needs, like the award-winning Palace Regent, on display at Homeworld Box Hill.
With five bedrooms, three bathrooms and four living areas, Palace Regent boasts room upon room of opulent style. From the moment you enter through the foyer double doors, you ease into the luxury, with magnificent open plan entertainment spaces, a stunning oversized Hamptons style kitchen, and private rooms where you can relax and enjoy quiet family time.
The upstairs master suite is grand in scale and design, sweeping across the entire width of the home to create a luxury retreat.
Unlike a renovation, rebuilding with a home like the Palace Regent gives you more freedom in terms of design – you are not confined by the restrictions of your homes existing architecture.
Whether you renovate or opt for a knockdown rebuild, there is one more thing to consider. You may need to rent elsewhere during the work. This can be tricky, as you will have to keep up with your mortgage payments, finance your building costs, and cover your rent, so it is important to weigh up all the pros and cons.
For more help in deciding what is best for you, you can read our blog Reno or Rebuild? or you can talk directly with an Allcastle Homes consultant. With more than 100 different home designs from our affordable Select Collection and luxury Premier Collection, including designs for narrow or wide blocks, homes with granny flats or even duplex designs, we can explain how we can help you create the beautiful, modern home you have always wanted.
Source: Eyewatering house prices. *https://udia.com.au/research/udia-state-of-the-land-2021/
