The Pros and Cons of Building New vs. Remodeling

If your current house is no longer accommodating your needs or that of your family, you can either remodel it or start fresh by building new. Both options will allow you to design a brand-new, state-of-the-art living space that serves your needs both now and in the future. However, the journey there can look significantly different depending on your choice. 

Let's compare the pros and cons of remodeling to building new.

Building vs. Remodeling

There is no simple solution to whether it is better to remodel an existing home or build a new one. There are pros and cons to each choice and many other variables to consider.

Cost of Luxury Remodeling 

It is the homeowner's responsibility to ensure that all work done on the house complies with current construction codes. It's not uncommon for remodels to make use of preexisting elements. However, if there are underlying structural problems or dangerous building materials, the price tag could end up being far more than expected, and the schedule could be pushed back.

Duration Involved

Remodeling projects typically move along more quickly due to the reduced work required. When remodeling, homeowners who intend to remain in the house should create a phased plan to minimize interruption and the cost and hassle of finding other accommodations.

Pros of Remodeling 

• Families may not need to move to a new residence during the remodeling project.
• Remodeling increases the resale value of a house.
• You spend less than building a new house.
• Remodeling presents the chance to make a house more energy efficient.
• Extra space is created through remodeling.
• You're able to upgrade your home without sacrificing a good location.
• Remodeling allows you to add custom features to your house.

Cons of Remodeling

• Unforeseen factors like structural problems might impact costs and completion times for remodeling projects.
• If you decide to leave the house for the duration of the renovation, you'll have to find accommodation.
• There is rarely a 100% ROI when it comes to remodeling projects.
• If you decide to stay in the house, it can be disruptive.

Building New Construction

Building from the ground up could be less hassle than renovating your current home if any modifications are needed. Before deciding whether to build from the ground up, consider the pros and cons discussed below. 

Cost of Building New Construction

New home construction costs significantly more than a remodeling project. The demand for labor and resources, as well as the location, all play a role in determining the final cost.

Duration Of The Project

Because of the time required to excavate, slope, and compact the site before construction can begin, building a house takes longer than renovating an existing home. It can take many months to complete because there are no previous pieces to work with. 

Pros of Building New Construction

• You have complete freedom to design the house the way you want, so you don't have to compromise on anything.
• Everything is brand new and covered by a warranty, so there shouldn't be many problems with repairs or breakage.
• The house can be built to ensure smart living.

Cons of Building From The Ground Up

• Building new usually involves working within a budget which requires careful spending.
• Building new can take 14 to 18 months, depending on the size and scope of the building project.

Before you decide whether to build a new home or simply remodel your current home, you need to consider the pros and cons of both options. Whichever choice you make, Steven Anthony Luxury Homes has you covered. We ensure a smooth process from beginning to end with excellent and open communication between homeowners, designers, project managers, and field teams. Interested in learning more? Contact us today to see how we can help you with your home.