Every homeowner has a fear of renovation and fixer-uppers. Walls may hide multitudes of problems that could cost big bucks. Even scarier is the decision to completely tear down a home to build a new structure. No longer is there fear of what one could find hidden in the walls of the home or the foundation. Instead, the fear becomes about the unknown project of a teardown. There is apprehension in every large project that homeowners undertake, but the end results are usually more than homeowners have ever dreamed. Leaving them with the question of whether they would do it all over again? And a high percentage would say: Yes!
Teardowns can make way for brand-new homes full of personalized upgrades and unique features. In today’s market, buyers want the latest trends and amenities, the most efficient systems, top-of-the-line appliances and finishes, low maintenance, and fresh design. Not many buyers want fixer-uppers. Instead, they opt for move-in ready homes with all the bells and whistles. This, of course, means a heftier price tag.
With the demand for new homes rising, builders are looking for more land, and often they find this through buying homes that are run down, which they then completely dismantle to build a new structure. As a home buyer looking to do the same thing, it could end up being a wise investment. Up-and-coming neighborhoods will most likely appreciate in the future, which means a large profit for the homeowner when it comes time to sell down the line.
When looking into finding a contractor to aid in the demo of a property, most of them will provide quotes for how much the work will cost. There is no standard per-square-foot-cost to go by, so be sure to check with multiple demolition contractors in the desired area to see if it’s possible to get a better deal. In low-cost areas, the cost of destruction could be anywhere from $7,000 to $15,000 or more. Despite this cost, the creation of a brand-new home with the latest technology and high-end finishes is worth it in the end.
In addition to brand-new features of a new home, the addition of square footage is something a buyer may not have gotten in a pre-existing structure. Depending on zoning laws and permits, a homeowner should be able to build a larger structure than the one previously on the property. If a teardown is something a homebuyer wants to consider, it’s important to check up on those zoning laws and permits before purchasing a property. No one wants to buy a home only to find out that expanding is out of the question. In that case, the homeowner would only be able to build a new structure over the footprint of the previous home.
Land over house
Perhaps the reasoning behind a teardown is as simple as the plot of land is lovely but the house isn’t. Maybe the house is old and in need of so many repairs that it’s not even worth it to try and fix all the issues. No matter the reasoning, a teardown is a possibility for many home buyers. It’s a mistake to assume that the house is too nice to demolish. An amazing location has both opportunity and value to become a great property that’s worth quite a deal more than it was previously.
Whether the land is close to a city or open with large acres, the land is just as important as the home that sits on it. Tearing down a home can make way for a brand-new structure full of personal touches that truly make a house a home for many homebuyers. If the budget is there and the willingness to take on such a project with the proper professional help, then there are numerous possibilities to be had. Do the research. Find reliable professionals who can provide quotes and will be there every step of the way. It may seem like a frightening undertaking, but with the proper professional guidance a new home construction could turn out to be just the ticket for a homebuyer.