Considering Renovation or New Construction
An existing structure can often be more cost effective and sustainable up front. However, what seems like a more affordable option might not always be the best solution when considering factors for long-term planning and goals!
System Upgrades
Construction codes are constantly changing and it’s likely that additional requirements have gone into effect since the time the original home was built. Renovations may require entire homes be brought up to current code. This certainly effects cost. Outdated homes may require major improvements to meet current codes.
Determining Cost: Long & Short Term
After thorough consideration as to how much a renovation could cost in both long and short-term goals is a major consideration. Is the cost compared to simply building new construction a determining factor? It’s often a difficult decision considering the numerous factors involve.
A first-time renovation or if it still has a lifespan for the original structure will make a difference. Are you able to obtain accurate records for prevous renovations even if available? The overall history of the home will offer the ability to consider factors in choosing new construction. Some owners have sentimental value placed on the home which can muddy the waters in making a clear decision.
Potential Hazardous Materials
Asbestos during demolition and the consideration of certain chemicals like paints and cleaning materials can add substantial influence on the cost and progress of a renovation! Considering structure guidelines required by the current laws surrounding these chemicals and the shore communities can cause time delays leading to considerable cost adjustments originally not factored into your initial estimate.
New Construction
Considering new construction may be a costlier option, but it comes with several benefits and less restrictive than renovating. Mortgage rates still being at historical lows are moving many homeowners towards new construction.
Environmental Sustainability
New Construction offers more control over energy consumption. This includes building materials, floor plans, and electrical and plumbing systems which can all be built with energy efficiency in mind, thus reducing energy costs for the long term.
The older homes or structures are often unequipped for modern technological needs, especially when it comes to electrical systems and plumbing. It’s a major plus to consider the ability to integrate electric and plumbing systems within the building plans. Designers and architects offer a fresh look with new construction with far less restrictions then doing renovations.
Gaining a More Efficient Layout
Rather than renovating an existing home, new construction offers a more efficient, logical living footprint purpose in mind! Depending on the renovation involved, it may very well be less efficient and cost more in the long run. The savings with less maintenance, warranties and more efficiency is now more often a tipping point for choosing new construction.
Consideration for Partial Deconstruction
Partial Deconstruction may be an option if a full renovation cannot be justified. Sections or parts of the home that are not worth saving can be demolished and rebuilt, while other sections can be renovated. The decision can be complicated, but a quality approved contractor can provide more precise numbers!
A group of dedicated engineers, contractors and architects with decades of experience are available to discuss your project. Call to discuss the process and scale of new construction including, financing, designs and budget.
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Scott McSorley/Weichert Realtors
Cell: 908-670-3574
Office: 609-496-6000
