This is always a very difficult question to directly answer because there are so many variables to take into account. Most inner-city suburbs have “heritage overlays” which prohibit the demolition of houses and spell out what you can and cannot do when renovating an existing house. All properties with a heritage overlay will require a “Town Planning Permit” before any renovation works can be carried out.
Deciding whether to “renovate” or “demolish and re-build” is a very personal decision and will depend on numerous individual factors.
I always advise my clients to make up a short list of the five main “pros and cons” for a new house and a renovation. Below is a short list of positives and negatives that will help you to clarify which option is best for you.
Renovation
|
PROS |
CONS |
|
Preservation of old houses |
Compromises on design, layout & spaces |
|
Retain lovely period features |
Town planning process and advertising |
| Can be done for a smaller budget | Much harder to achieve 6-star energy rating |
| Shorter building timeline | Shorter term ownership “life span” |
| Popular decision with your neighbours | May involve some lifestyle compromises |
| Sometimes possible to live in the house whilst it’s being renovated | Not possible to live in , require alternative living arrangements |
| Preference for the location over size | May not resolve all family needs |
| High “feel good” factor |
New build
| PROS | CONS |
|---|---|
| Start with a “clean slate” | Longer building timeline |
| Longer term ownership solution | Need a larger budget |
| Fewer compromises in design layout & size | More significant changes to the “streetscape |
| Able to achieve a more sustainable “thermally efficient " home | Short-term environmental impact from demolition and waste |
| Able to make a more significant design statement |
Ultimately, the main determining factor will be your budget, but here are a few additional questions to help you make a decision:
- Do you really like the existing building?
- Does the existing house fit in with the existing streetscape?
- Are there any council overlays or restrictions on the property?
- Does the existing house have any “heritage significance?
- Have you done a renovation before?
- How long do you plan to live in this house?
- Will there be any significant compromises if you renovate?
- What will be the “end value” of the property?
- Does it make economic sense?
- Does it feel right?
