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How to Know If You Should Rebuild or Relocate?

15.02.19 - Clarendon Homes, Home Building

It’s an age-old home upgrade debate – when you’ve outgrown the place you live, do you stay and knockdown rebuild, or start anew and relocate? There are, of course, plenty of reasons to stay; and, equally, plenty of attractive options for relocating. Then, do you buy land in an established suburb, or purchase a package in a burgeoning new estate? To help make the decision a little easier, we’ve nutted out the benefits of each option to help you narrow down your options and see which supports your priorities, and the vision you have for your future dwelling.

Knockdown rebuild

You love your area, your neighbours and you’re in the catchment zone for your pick of schools. The only hurdle? Your house. You’re outgrowing it, or it’s too dated, and the prospect of renovating just isn’t feasible (living in dust, debris and destruction? No thanks). You’ve also noticed that the housing prices in your area are on the constant up and up since you purchased your home, relocating to an upgraded existing property would likely leave you in the minus. This is where the knockdown rebuild option really shines.

Benefits of knockdown rebuild:

  • You don’t have to sacrifice where you live to upgrade how you live. You can create your perfect home, right where you are

  • You’re very familiar with your area, and your lot of land, and so will be able to make design decisions much easier

  • You save time not having to source out comparable areas, tackle the fluctuations of the property market, or pay real estate fees to sell your home before you even start to seek a new one

  • You can stay in the space you’ve created memories with your family, while still being able to provide a new home that will facilitate the growth of your family as you make new memories

  • It can be more cost effective than selling and rebuying

  • Knockdown rebuild is also a great option for entering an area that may have otherwise been out of reach, but securing the land of a dilapidated property.

Building on a pre-purchased lot

It’s no easy task to find the perfect lot of land, especially if you already have a house design in mind, or your heart set on a certain area. The availability of vacant land is also becoming increasingly difficult to find as suburban spaces get more and more dense. However, if you do find that perfect space, you’ve done the hard part and the process of building your home will feel more seamless and in your control. It really becomes a matter of preferences with your choice of design, facade and inclusions.

Benefits of building on a pre-bought lot of land

  • The research required to find the lot of land that, quite literally, sold you, means you’ve likely covered your bases regarding where you want to live and the house design you’re after. In doing so, you’ve cut out a lot of the research required to build your home

  • Your options for where to live, and the size and shape of land are endless when they exist. There are no caveats to the build beyond what the land can facilitate

  • The area is likely already well established with convenient local amenities, transport options and schools readily available

  • There can be more freedom in your house design choices and inclusions.

Buying house and land in an estate

This is considered the most cost-effective and easy house purchasing option, particularly for first home buyers. House and land can sometimes come with the connotation of a ‘cookie cutter home’, but this is far from the truth. The homes we select are carefully considered not just for practicality, but also for design and style. They are also able to be amended with upgrades if requested. Set up in burgeoning areas, the house and land options facilitates the perfect living environment for families in house designs, lot sizes and local public conveniences such as access to transport, shopping and great schools.

Benefits of purchasing house and land in an estate

  • You know exactly how much your new house, as a whole, will cost. There’s no guessing around lot prices, additional council fees for approvals, or what house design is going to perfectly match your lot. With house and land, the hard work is done for you – you just have to choose

  • Estates are set up in carefully chosen areas that are designed to give families not just great homes, but premium lifestyles. Close to shops, playgrounds, schools and transport, it’s as much about location as it is about home design

  • It’s easier to navigate your budget more holistically, making decisions on inclusions and other upgrades more effective and confident

  • You can save thousands on stamp duty. This depends on the overall value of your house and land package, but you pay stamp duty on the value of the land portion, not the house and land combined, so you’re calculated value is lower and so can come under the stamp duty threshold.

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