We all have had memories of our childhood and it revolves around the space we have stayed in. This particular space might have been built by your parents or grandparents, and it still looks great. This emotional connection may not allow you to demolish this beautiful building.
That is when you renovate or improve your existing home and update it with the recent design trends.
However, building new is always advised if the building history suggests so. That is if your building is too old and its structural integrity is in question; you need to let go of your renovation plans. Then there is the question of sustainable construction. If you can make sure the structural integrity and the current space is actually made in a sustainable way, go ahead. Renovate.
This article helps you understand the benefits of renovating your existing house
Quality of living
The place we have stayed in, as children might not be enough when you have a family of your own. The family size increases and the current home, how good it is may need an additional room or a bigger living. By renovating you can improve your quality of living. Give more space or cut down the unwanted spaces and improve storage capacity in your existing home.
Property value
Due to new development and infrastructure projects in your area, you expect a property value rise in the near future. Then it’s good to keep your old home and renovate it. Since a new looking home raises the value of the property than a rugged one. In addition, you need to make sure the cost of renovation and your property value will not exceed the expected rise for property rate in the area.
Neighborhood
A good neighborhood plays an important part when it comes to renovation and property value. Rising property value in the area and feasibility of affording a similar place elsewhere makes renovation an ideal choice for you. Because improving it to the design trends in the area and giving it a fresh appeal automatically improves your property value.
Cost and time
Unlike building anew, renovation is cost-effective. If you have a house that has good structural integrity, you can renovate it. The time taken to renovate is also less compared to building a new house. Thus renovation saves you cost and time, making it more preferable for people staying in cities with rising property value and a good neighborhood.
Sustainability
Another important aspect ruling in favor of renovation is sustainability. As discussed before we need to be compassionate about our planet. We have come a long way in sustainable construction, in terms of energy consumption and space utilization, from then construction methods. Like integrating solar into our homes and using non-toxic materials to renovate. Consult an architect who specializes in sustainable construction to renovate better.
Emotional value
You must be willing to protect yourself and what you cherish, no matter what the cost. – Christopher Paolini
All said and done about improved quality of living, property value, good neighborhoods, and sustainability. You might prefer renovation due to the emotional attachment towards the said property. The memories had to be preserved and building a new house may lose your house’s identity. Renovation helps to keep your old house alive with updated features. Thus giving you emotional happiness and financial happiness together.
We hope we have covered the points to help you make up your mind on whether to renovate or rebuild your home. Share your thoughts below in the comments.