Is 2022 your year for a new home build or renovation? Hear from the experts
Are you considering a new home build or renovation? Everyone’s budget and lifestyle are unique, so there’s not a one-size-fits-all solution, but taking a closer look at the pros and cons of both a new home build or renovation will allow you to make a more informed decision. Here’s what you need to weigh up.
Before deciding anything, it’s important to do your sums.
New home build cost considerations
If you’re considering building a new home, the price will vary depending on the size and location of the land, as well as the home you choose to build. There are also grants and stamp duty discounts available to help first-home buyers build their first home. In Western Australia, you may be eligible for a one-off payment of $10,000 in addition to the exemption of stamp duty charges. At BGC Housing Group, we have a wide range of specialist homebuilder brands to suit any budget for WA home builds, making it easy to find the perfect team to bring your vision to life.
Renovation cost considerations
If you’re leaning towards renovating, this also will range hugely depending on how large the project is. Consider how much actually needs to be changed to achieve your dream outcome and save parts of the original home where you can.
Generally, the cost per square metre of a new home build is cheaper than the cost per square metre of a renovation. This is due to the expenses involved in upgrading an existing home and the increased labour required to tie a new addition into an old building. It is recommended to compare several quotes before diving in and remember that when it comes to renovations, it is common for extra hidden costs to pop up along the way. If you do decide that renovating is the best option for you, make sure you factor in extra savings on top of any quotes, especially in an older home.
What’s more cost effective?
If you already own a home, research the sale price of your home as is, and the cost of building and relocating to a new home. If you’re a new home buyer, find out how much a new house and land package would cost you. With that budget in mind, could you renovate to achieve your goals? Will a renovated home in your area fetch the resale price you hope for?
The key advantages of building a new home in Perth WA
- No compromises on design, you choose the look and layout specific to your needs.
- New everything! No maintenance hassles.
- A new home build will have fewer unknowns due to not having to work with older structures and their quirks, which will save time and money.
- Great resale value.
- Plus, if you go with a BGC Housing Group home builder, all our homes are built with a 6-star energy rating as standard and a lifetime structural warranty, giving you peace of mind for the future.
The key advantages of renovating a home in Perth WA
- You can pick and choose exactly how you want to revamp your home without knocking the whole thing down.
- Keep character features whilst breathing new life into the home.
- A renovation or partial knockdown may be all that is necessary, depending on what changes are required.
- Potential to add great value to your current home value.
So, how do you decide between a new home build or renovation in Perth WA?
It really depends on what your end vision is. Always consider the long-term benefits.
If your established home only needs a few upgrades, then renovating may be the best option for you. Just keep in mind, while renovating can seem like an easier and cheaper option in the long run this can cost far more. Building a new home gives you a clearer idea of the final outcome and peace of mind for the future.
At the end of the day, whatever you choose, the most important thing is to make a choice based on your needs and circumstances.
At BGC Housing Group, our wide range of home builder brands can provide you with upfront pricing for your new home. To get in touch, meet WA’s best home builders.