Choosing between renovation and a new build is a dilemma for a majority of people. And very often, they end up making the wrong choice for them. In no way can we say that one option is better than the other at all times. Rethinking your existing property or starting from scratch – it entirely depends on you, your budget, what’s best for you, and your preference. Like two sides to the same coin, both the options have advantages and disadvantages of their own. So before making up your mind, consider every aspect of both – requirements, budget, costs, intended use, and much more.
So before you make up your mind between the two, here are a few things you should consider & then choose the one that suits your plan
- Budget: Analysing if either renovating or new build can save or meet the fixed budget plan you have set. A new build can cost more than renovation.
- Discussion: It’s important to discuss the matter with everyone who is involved to get ideas and avoid conflicts in the future.
- Time: The time limit you can have determined for the whole project is also a key factor. New builds have to be started from scratch on the contrary renovations just need a few more constructions.
- Partial deconstruction: when both options are not viable, demolishing the part to be redesigned can rebuild just that area has proven to be useful.
- Eco-friendly: If you look at which option is more environment- friendly that would be renovating the old one rather than building a new one because the new building process means more CO2 emissions.
- Tax breaks & subsidies: In areas undertaken by the government for redevelopment renovation can be a better prospect of providing a window for tax breaks & subsidies.
- Infrastructure dilemma: Renovating often becomes trouble when new requirements cannot be met by the former standard and many aspects like wiring, plumbing needs to be redone whereas in the case of new build, requirements are met and the process is more cost-effective.
- Disaster planning: Any modern-day building is supposed to be built abiding the regulations to withstand natural disasters/ fires/earthquakes etc. Old buildings might meet a dead end at renovation regarding this aspect but new builds can be incorporated with disaster management planning.
- Location: The existing location could be very important and hence new build in the same location could pose a problem because of existing laws and ecological preservation of specific locations. Under such circumstances renovation is a better option.