Anytime a home no longer meets the needs of your family, you should consider making a change. Depending on what needs are being neglected, this may mean that relocating. However, some families prefer to stay in their current neighborhood due to friends, school, or even proximity to work. In some cases, selling a home they love is too painful to consider. Renovation is another option if moving is off the table or if the needs are not so complex as to warrant a new home. Regardless of the reasons, understanding which option is best for your family is the first step in the process. Lions Den Construction suggests you keep these things in mind when making your decision.
When Should You Renovate?
When only a few changes need to be made to solve your family’s problems, starting a home renovation project makes sense. Families that need an extra bedroom or those who just want cosmetic changes will best be served with a renovation as opposed to moving to a new home. A medium-sized renovation project will cost a few thousand dollars at most, which is much less than it would cost to purchase a new home.
When Should You Demolish and Rebuild?
Demolishing a home may seem like a drastic step, especially when moving is a faster solution. Homeowners who have older structures with a myriad of problems may find it more cost-effective to re-build rather than start extensive renovations. Some older homes may also suffer from problems that require a full teardown to expose the foundation. When a home is re-built, it gives owners a chance to make the space eco-friendly while also designing a custom layout that caters to their needs.
What is a Home Teardown?
If you do feel that tearing down your home is the best choice for your family, there are some things to keep in mind. Your home may have parts of the structure that can remain intact, such as your foundation. Historical features can also be preserved depending on the extent of any existing damage that may need repair. Make sure to always check with your local city planner to ensure that your home is eligible for a tear down before moving forward with your project.
What is the Right Choice?
For most homeowners, the cost is the largest factor in deciding between a renovation, move, or full home teardown. For this reason, it’s important to create a realistic budget long before making any decisions. When considering your options, make sure to budget for alternative housing costs, relocation costs, and sudden expenses. In some cases, you may be able to secure financing for your project to offset the cost.
If you need help creating a realistic budget for your project, give our Toronto construction company a call. We would be more than happy to assist you with a free price quote.
How We Can Help
Lions Den Construction is always happy to offer our services, suggestions, and guidance to clients in Toronto, Etobicoke, and the surrounding area. When you call our office at (416) 893-8318, our building professionals will listen to your goals and help create a plan that best suits your needs. Whether you decide to renovate or create a custom built house, we will work with you every step of the way to help you design and achieve the house of your dreams, all within a budget you can afford.
