With the real estate market the way it is, it can be challenging to find a home that’s just perfect. No matter where you look or how much you spend, something always needs at least a little tweaking. Even a house that appears to check off every box before you move in will have something you wished was different. Part of this is human nature. We get something in our heads, and everything has to be just so. But a lot of it is the market itself.
There are not many listings to choose from, and plenty of buyers are competing for the homes that are available. This situation becomes even more challenging when you have high expectations for your new home.
But however imperfect your options may be, there is a solution right before your eyes.
You can always renovate your home to your needs. Alternatively, you could tear it down and rebuild it from scratch. Let’s explore both of these options a little deeper.
The Joy of Home Renovations
If you’re tired of the same old thing every day, it can be tempting to pick up and move. Ugly paint and outdated fixtures can really spoil the mood when walking through the rooms in the house that you have come to love and hate simultaneously. You may think the time has come to sell it and move on.
But before you write off your existing home and start browsing available listings, look a little deeper.
- Does the layout make sense?
- Is it the right size?
- Do you love your neighbourhood and nearby amenities?
If your house no longer suits your needs, selling is a viable solution. However, what if it has the essentials and just needs a facelift to bring it back up to your standards? You will be surprised at what a few renovations can do.
Even if you decide to move, you will likely want to make many of these updates anyway. Otherwise, you may need to offer a steep discount to attract a buyer when selling a house in an “as-is” condition.
Looking for some ideas to kick off your home improvements? The posts below can provide inspiration all year long:
- 5 Home Renovations That Offer a High Return
- Winter Renovations To Prepare Your Home For A Spring Sale
The Challenges of Renovations
Remodelling a house to suit your needs can bring incredible joy and satisfaction. However, it can also be more than you bargained for in terms of time and money. A project that seemed simple can get delayed and take much longer than you thought.
And here’s a drawback you might not expect. Renovations can be like a game of whack-a-mole. You think you’ve conquered one room, but then the rest of your house looks even more outdated by comparison.
A fresh coat of paint brightens your kitchen and living room. Then you walk into the den, where there are still scuffs and nail holes in the wall. So naturally, you want to redo that room as well, and then the next. What starts out as a minor upgrade can turn into a long, costly endeavour. However, for many people, these projects are well worth it since they mean more enjoyment in your home.
Plus, remember that many of these renovations add significant resale value and can pay for themselves if you ever decide to sell later. It’s almost like having a custom-built home, but the cost is far less!
The Ultimate Solution: Tear It Down!
Picture this: You find a listing online for a house that has clearly seen better days. Due to its unattractive appearance, the property has stayed on the market longer than average. You think to yourself, “Maybe this house will look better in person. Let’s schedule a visit.”
But when walking through, one thing quickly becomes apparent. This house does not look better in person. The floors, the kitchen, and the windows are all appalling and outdated. Try as you might, you can’t find a single redeeming quality anywhere. You hate everything about the house, but you’re still smiling – because none of these details matter.
The price is right, which means you can tear this monstrosity to the ground. In its place, you’ll construct the perfect home designed to your precise wants and needs. The end result will be a magnificent work of such beauty that the entire neighbourhood will talk about it for years.
The above scenario may be a bit of an exaggeration, but it does illustrate the point. You don’t have to love or even like the house. As long as you love the location, nearly everything else can be changed as time goes on.
Looking for the perfect place for your new construction project? The following articles can help:
- What to Know Before Buying Vacant Land in Ontario
- Rural vs City Life: What Should You Choose?
- 6 Peterborough County Towns You Have to Know About
What to Consider Before Starting Your Tear Down
When tearing down to rebuild, flexibility is essential. Having a budget with a cushion also helps, especially when unforeseen issues arise. Even with meticulous planning, unexpected costs can occur. A flexible budget and timeline will go a long way toward easing your stress. The following tips will also help make for a seamless transition:
- Begin with research: Before choosing your lot, do some background research on the property to ensure there are no zoning laws, codes, or local restrictions to throw a wrench into your plans.
- Engage local professionals: Surrounding yourself with experts can help you avoid unpleasant surprises when rebuilding a home. Seek out professionals who have experience in teardowns and rebuilds. Architects, engineers, reputable contractors and a local real estate agent can provide guidance and ensure the feasibility of your project.
- Tally your expenses: The hidden costs of demolishing and rebuilding can add up quickly. Make sure you know what you’re up against in terms of the property value, demolition costs, architectural and engineering fees, and permits.
- Communicate often and clearly: Work closely with your architect to develop the design plan for your new home. Think of the layout you’d like and factor in functionality, energy efficiency, and aesthetic appeal. Being on the same page will help to ensure the end result is what you envision.
- Set realistic timelines: Understand that rebuilding a house takes time, and delays can occur. Establish realistic timelines considering weather conditions, permit processing times, and unexpected challenges. Building in some flexibility will help manage expectations and reduce stress.
- Take care of yourself: Amidst the chaos of your demolition project, it can be easy to forget that you’re only human. Part of your planning should also revolve around taking care of yourself and even having fun in the process. Managing your stress is critical.
- That way, you won’t see your friends casting worried glances your way because you can’t stop discussing the merits of neutral versus white-coloured paint.
Is Peterborough the right place for you and your family? A few of our latest posts may help you decide:
- Is Peterborough Dog Friendly?
- 5 Fun Things To Do In The City Of Peterborough Right Now
- Why Peterborough is Perfect for Families
The Deciding Factor
Now that you’re armed with more information, you’re in a better position to decide whether to renovate your existing home or rebuild a new one from the ground up. With expert guidance, either path can lead to an entirely new experience in a stunning home that feels built just for you!
Is a teardown the right opportunity to create your perfect new dream home? We are standing by to answer all of your questions about the process. Contact us today by emailing team@jeffandkatie.ca or calling 705-243-9797 for more information.
