Should You Remodel or Demolish and Rebuild Your Home?

Aug 12, 2022 | Blog

Home projects of any scope and size can be a thrilling way to enhance and improve the house itself and the lifestyle of its occupants. But before you jump in, full swing, you need to know what type of project is best suited for your needs.

Is it better to renovate your home or demolish it and rebuild? Which option is cheaper? How will the project improve your lifestyle? And which project will take less time?

Here are some points to consider that can play a role in the final decision.

How Long Do You Plan to Stay There?

If the improvement project is intended to enhance your lifestyle for the years to come, a demolition and rebuild may be the better investment. This type of design/build project provides you with an opportunity to start from scratch and fulfil all of your needs, especially if you don’t plan on moving anytime soon.

A renovation to upgrade the home’s design or functionality, however, is a great way to meet your needs for the time being or to entice potential home buyers if you plan to sell your home soon. You should plan additions or remodelling projects based on your immediate future plans for the house.

How Much Will Each Option Cost You?

As money makes the world go round, the cost of the improvement project might be the deciding factor. The cost to demolish and rebuild a house in Ontario varies based on the location, the current cost for building supplies, and the competency of the chosen contractor. The same applies for a home renovation.

The variable costs to rebuild a house on an existing foundation must be thoroughly compared to the exact scope of a renovation project. With a renovation, there are factors such as the age of the home and if the electrical and plumbing are standard code since upgrades can add to the overall cost of the project, but generally a renovation will cost you less.

Is the Neighbourhood Good?

You’ve spent time and effort to establish yourselves within your neighbourhood. Maybe there are good schools nearby or your property backs on to a beautiful lake? Instead of moving to a new location, you may want to renovate or rebuild on your existing lot.

A rebuild can be designed to complement the neighbouring houses without being identical. This allows you to express your own style within limits. Of course, you’ll need to ensure that your design plans follow all municipal by-laws.

What are the Local Permissions Needed for Demolishing and Renovating?

Speaking of local by-laws, regardless of whether you want to rebuild or renovate your existing home, in the end it’s up to the local planning board to decide what you can and can’t do. City by-laws are in place to protect the interests of the local landscape and neighbouring residences.

The polices and guidelines of the building standards codes limit the type, size, and style of a rebuild and renovation project. For instance, historical homes must be changed in accordance with the zoning by-laws and some neighbourhoods require rebuilds to follow specific building designs.

How Long Will It Take to Rebuild or Renovate?

Time is a major factor for many homeowners when deciding whether to rebuild or renovate. A renovation timeline depends largely on the scope of the project. As a renovation can encompass gutting one or more rooms, building an addition to the house, or basement underpinning, time is on the side of the contractor.

When figuring out how long it will take to rebuild a house, you should consider the time for demolition and removal in addition to the building of a new structure. When you work with a reputable contractor, it’s likely that the rebuild could take anywhere from four months to more than one year.

Can a Renovation Add as Much Value as a Rebuild?

Unfortunately, there is not a simple answer. A major renovation can add resale value to a home, depending on when you decide to sell. Sure, updates can transform a house and bring it into the 21st century, but the age of the structure continues to grow.

A total demolition for a rebuild can reset the value of the house to that of a new home. With a complete set of new materials, framework, windows, roofing, etc. and interior design, a rebuild can draw a higher resale price than a renovation.

Is the Foundation Strong for theNeeded Work?

As most home renovations are done to older homes, it is crucial to ensure the existing foundation is stable for the project. This is particularly vital with renovations of adding a second floor as the weight of the new structure can add pressure to a weakening foundation.

The foundation of a house needs to withstand added weight and be resistant to leaks of ground water. If the foundation is not viable, a rebuild may be required.

Will Your Property Taxes Change if You Rebuild?

How will aremodel vs. a rebuild affect your taxes?Depending on the location, any home renovation that increase the living space of the home, includes a major luxury, or has a cost of more than $5,000 can increase property taxes.

Property taxes in Ontario are based on multiplying the current rate of municipal and education tax rates to the Current Value Assessment (CVA) of the property. The CVA is determined by the Municipal Property Assessment Corporation.

Contact Elite Construction and Renovations for Home Remodelling or Rebuilding

Elite Construction and Renovations can help you in your decision in whether to renovate or rebuild. Our dream team have the expertise and state-of-the-art equipment to turn your living space into a home showcasing your lifestyle.

All of our design/build projects follow the Ontario Building Codes and local city by-laws. Our architects, designers, and other professionals work closely with you from the initial concept to completion, on time and within your budget.

Call our friendly team today for a no-obligation quote on your next renovation, addition, or rebuild project!

ABOUT THE AUTHOR
Jay McDonald

Jay McDonald

Jay McDonald, general contractor and owner of Elite Construction & Renovations, has over 20 years of construction experience. He has completed various Ontario Building Code and Business Management courses from George Brown College and has managed over $50 million-dollars-worth of construction in his career.