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How Much Does a Knock-Down Rebuild Cost?

Jun 19, 2019 | Project Homes, Inspiration

If you’ve managed to secure yourself the worst house in the best street, you may be wondering whether it will be more cost effective for you to renovate, or to knock-down and rebuild.

Generally, renovation or knock-down rebuild prices will be heavily dependent on your site conditions, and on council requirements.

You will also need to weigh up whether a renovation is going to be the least disruptive and stressful option for you and your family, or if you would benefit more from a knock-down rebuild.

It is a good idea to start by asking yourself a few main questions:

1) How significant are my renovation requirements?

In more specific terms, “How much extra room will I actually need?”.

If you are wanting to add a significant extension (or addition), or make big structural changes to your existing home with very little of the existing house being retained – then it may well be a more economic investment of your money to knock-down and rebuild.

Mincove Homes Rebuild in Progress

2) Is the orientation of our existing house workable?

Ideally, you will want to be able to take advantage of Northern sunlight, especially in the living area/s of your home.

If your existing home is facing completely in the wrong direction, or you would have to make massive structural modifications to open it up to gain natural Northern light – then again, an extensive renovation may not be the most cost effective option for you.

3) Do I want the hassle of renovating?

Extensive renovations can take their toll – physically, emotionally and time-wise.

If you work full-time, are raising a family, or work from home, you need to ask yourself whether you really want your builder and their subcontractors being in your house constantly, and over a prolonged period of time.

This is the unfortunate truth of extensively renovating homes. It can be a labour intensive, tiring and time consuming process, so before committing – ask yourself if it is worth the disruption.

Mincove Homes Builders Contractors Local Trades

Whereas, brand new homes can be built quickly, maximising efficiency which saves you time, all whilst you are temporarily living elsewhere – completely undisrupted. All you will need to do is walk in and enjoy!

Whichever way you go, it’s vital to do your homework first.

Be aware of your pre-construction costs

Both renovation and knock-down rebuild prices will include site costs.

What are site costs?

Site costs are the costs required to build your home on your specific block of land. These costs can be significant and beware, as not all builder’s estimates and tenders will include your site costs!

Here at Mincove Homes, we include your site costs in our FREE tenders.

Site costs can include:

  • Levelling out your land, ready for the construction of your renovation or new build
  • Changing the location of services and connections for gas, water, sewer, stormwater, NBN and electrical.
  • Traffic management, additional parking/zoning requirements (if applicable)
  • A Contour Survey, which gives your builder accurate levels, boundary lines and dimensions, and help them to determine the setbacks required for your new home or renovation on your land.
  • A Section 149 Planning Certificate, which gives your builder information around zoning and applicable rules for development on your block. It tells them the restrictions that have been placed on your block by your local council (i.e. brushfire, flood, easements, heritage or other restrictions).
  • A soil test – necessary to understand how reactive the soil is on your block, which will allow your builder to ensure that they design and construct the appropriate foundations for your home.
  • A compliance check – required to ensure the alterations or new dwelling complies with your chosen authority building controls (Complying Development) such as FSR (Floor Space Ratio), building heights etc.

Mincove Homes Site Costs Included in Free Tender

Here at Mincove Homes, your site costs are included in our fixed-price tender.

If unsure about site costs, you can contact our highly-experienced team here at Mincove Homes to discuss your individual site costs and associated options.

What knock-down rebuild costs would I need to cover myself?


Demolition

Demolition costs vary depending on the size of the house, access to the site, hazardous materials/asbestos removal, neighbouring structures, established trees and temporary fencing.

As a rough guide, a standard house knock-down/demolition can cost you around $15,000 – $30,000.

Here at Mincove Homes, we can put you in contact with a preferred, highly respected and trusted demolition company who will take care of every aspect of the demolition process for you.

Knock-down rebuild demolition costs prices

Tree Removal

If you have established trees on your property which need to be removed, you may need to apply for a permit from your local Council depending on the height and proximity of the tree/s to your dwelling.

Our experienced team here at Mincove Homes advise our clients if this is required before construction can commence.

Additional Site Costs

If you are renovating or building within a flood or bushfire zone, or on a heritage listed site, then you could be up for additional site costs.

This would be dependent on your Council, and the requirements of your 149 certificate.

If you’re planning an extensive renovation with a lot of structural changes, it’s often cheaper to start from scratch.

How much would it cost to build a brand new project home?

Once you have your demolition and site costs mapped out, you will be wondering what it would cost you to build a brand-new project home!

At Mincove Homes, we have a variety of beautiful single storey home designs, which start from $205,860, and double storey home designs, which start from $284,800.

Read more about the cost of building a brand new project home in our article, “Project homes – How much do they cost?”.

So, the bottom line is… with all aspects of extensive renovation and knock-down rebuild prices considered, you could opt to have a beautiful brand new home built for around the same or even less than the cost of renovating – and with less disruption.

The Milton Mincove Homes Display Home

Additional benefits of knocking down & building a brand new project home


Avoid costly variations that come up during renovations

When renovating, you may negotiate a fixed-price contract with your builder. However, this doesn’t account for unforeseen costs that can arise during renovations.

For example; when renovating, it is only when you start taking plasterboard off walls, or pulling up floors that you discover issues such as asbestos, termite damage or damp areas.

During a renovation, these kinds of unforeseen issues often turn into ‘variations’, whereby you are required to pay extra (additional to your fixed-price sum) to rectify the problems, before your build can continue.

Overall cost savings, now and in the future

It is often cheaper to get a ‘large volume’ project home builder to build your new home, as they work in bulk, with trusted suppliers and contractors, and are therefore able to obtain cheaper prices across the board than you would alone.

But, building with an established project home builder is not the only way you will save costs building a brand new home…

Brand new homes are also more energy-efficient! This means cheaper power bills. Yes, you can retrofit an existing home to be more energy efficient – but it is far more expensive to do so.

 

You get to choose everything!

When renovating, you may have to work with a few existing ‘bones’ of the house, such as its orientation or the position of main walls or windows.

But, by starting from scratch, you get to choose a whole new home design (right down to the fine details) that perfectly suits yours and your family’s lifestyle.

From the orientation, to the size of each room, and how many windows you have and where.

Finally, your brand new project home from Mincove Homes also comes with the added bonus of peace of mind, in the form of a 12 week maintenance period AND a 6 year structural warranty.

To have a chat about your potential knock-down and rebuild with one of our friendly and experienced New Homes Consultants, give us a call today on (02) 4256 0222.

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