Rebuild or Relocate: Finding the Perfect Living Option for the Family

knock down rebuild homesAs prices of real estate continue to increase across Australia, many families are considering their current living options. With Melbourne having the highest price surge for the first quarter of the year, homeowners are wondering if a knockdown and rebuild project in Melbourne is still cost-effective or if they should start thinking about relocating.

Estate experts share some factors you need to consider when deciding between relocating and rebuilding your home.

Condition of the Property

The structural integrity of properties deteriorates over time. If you are fixing damages frequently, it may be time to have a specialist assess your home. Don’t be too quick at deciding to leave, as a home knock down or rebuild project may help you stay in your beloved neighbourhood. Let professionals evaluate fundamental components, such as ceiling insulation, rafters, studs, sheathing, siding and corner bracing.

Current and Future Needs

Rebuilding a property from ground up is a major decision. To make the most of your home, assess your current and future needs. Having a future-ready home makes it easier for your family to adapt to changes. If you are planning to have another child in the years to come, it may be a good decision to add another room. When you want to continue living in your home during your retirement years, think about adding a bedroom on the ground floor and having a bigger bathroom with handrails.

Neighbourhood and Community Facilities

Many families decide to relocate, as they don’t feel that the neighbourhood meets their needs. If your home is a long way from your child’s school, your office or other essential establishments, it may not be worth it to rebuild or renovate the property. Furthermore, if property prices in your area continue to drop despite a thriving real estate industry, you may not be able to return your investment when you eventually decide to sell your home.

When your home stops being your dream house, it does not always mean that you need to pack up and leave. Consult experts to know if you can rebuild the property.

Posted on by Debra Lefler in Customer Service

About Debra Lefler

As a frequent online shopper, Debra knows the ins and outs of e-commerce. She spends most of her time looking after her three dogs and gets everything they need through the Internet.

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