Have you ever dreamt of building your dream home from the ground up? Perhaps you’ve inherited land with an existing house, or maybe disaster has struck your current home. Whatever the reason, a knockdown rebuild might be the perfect solution for you.
Here’s everything you need to know about knockdown rebuilds in Sydney, from the benefits and drawbacks to the nitty-gritty costs involved.
What is a Knockdown Rebuild?
A knockdown rebuild involves demolishing an existing structure on your property to make way for a brand-new, custom-designed home. It’s a popular choice for homeowners who want a fresh start or who find renovating an older property impractical due to hidden structural issues or outdated layouts.
Reasons to Consider a Knockdown Rebuild
Owning land with an existing home
You may have inherited land with an old house that doesn’t suit your needs or style. A knockdown rebuild allows you to create your dream home on a block you already own.
Disaster damage
If fire, flood, or another unfortunate event has rendered your home unlivable, a knockdown rebuild can be a more cost-effective option than extensive repairs.
The Pros and Cons of a Knockdown Rebuild
Dreaming of a home designed specifically for your lifestyle? A knockdown rebuild unlocks that potential. Unleash your creativity and craft a space that perfectly complements your needs, and you’ll never have to worry about problems lurking within older structures. A knockdown rebuild ensures a solid foundation, allowing you to incorporate the latest technology and building practices for a comfortable and energy-efficient living environment. Additionally, a brand new home can significantly increase your property value, making it a worthwhile investment in the long run.
While the possibilities are exciting, knockdown rebuilds still come with some drawbacks. The demolition process can be noisy, messy, and disruptive to your daily life. There’s also the possibility of encountering asbestos, a hazardous material requiring specialised removal procedures. The demolition itself also has an environmental impact as it generates waste and dust.
However, responsible builders take steps to minimise this impact through proper waste disposal practices. Finally, there are additional costs beyond demolition and construction to consider.
The Real Costs Involved in a Knockdown Rebuild
Here’s a breakdown of the key costs involved in a Sydney knockdown rebuild:
- Demolition Costs: The average cost per square metre for demolition in Sydney ranges from $53 to $114. The size and complexity of the existing house, as well as the presence of asbestos, can significantly impact this cost.
- Building Costs: Expect to pay around $1,900 to $2,500 per square metre to rebuild your home in Sydney. This cost covers materials, labour, and construction overhead.
- Additional Costs: Be prepared for these hidden expenses:
- Stamp Duty: You may need to pay stamp duty on the land value if purchasing a property specifically for a knockdown rebuild.
- Legal Costs: Permits, contracts, and other legal documents can add up.
- Rubbish Removal Costs: Demolition generates significant waste that needs proper disposal.
- Certificate 73: This document certifies your new build complies with regulations and is a mandatory cost.
- Tree Removal/Pruning: Trees on your property may need removal or pruning to facilitate construction, adding to the costs.
- Construction Loan: Construction loans typically have higher interest rates than regular home loans. Factor in fees for progress payments and loan administration.
- Alternative Accommodation: You’ll likely need to find temporary housing during the construction period, so you’ll need to prepare enough rental funds while construction is ongoing.
- Council Fees: Changes to property use, such as building a granny flat or duplex, may incur additional council fees.
- Foundation Changes & Footings: If the existing foundation shows signs of weakness, additional work may be required at an extra cost.
Knockdown Rebuild vs Renovation
Both knockdown rebuilds and renovations offer ways to improve your living space. Here’s a quick comparison to help you decide:
- Knockdown rebuild: Ideal for creating a completely new, custom-designed home, avoids hidden problems, and potentially increases property value more significantly. However, it’s a more expensive and disruptive process.
- Renovation: A more affordable option for updating an existing home’s functionality or aesthetics. However, hidden issues may arise during renovation, potentially driving up costs, and the overall property value increase might be less significant.
How First Floor Additions Can Help
First Floor Additions is your Sydney-based design and construction specialist, transforming homes to perfectly suit your lifestyle. While we excel at creating brand-new custom homes through knockdowns and rebuilds, we understand that’s not always the answer.
Thinking Beyond the Rebuild
Perhaps you love your existing home’s character but crave more space. That’s where a well-designed first-floor addition comes in. It maximises your existing footprint, adding valuable square footage without the disruption and environmental impact of a complete rebuild.
Full Range of Services
Our expertise extends beyond first-floor additions. Whether you envision a ground-floor extension, a beautiful home renovation, or even a complete rebuild, our team is here to guide you through the entire process.
We understand that choosing the right path can be overwhelming. That’s why we offer consultations to explore all the possibilities, including renovations, extensions, and new builds. We’ll help you navigate the pros and cons to make the best decision for your needs and budget.
Ready to begin your home journey?
Contact First Floor Additions today or call us at 02 8896 4324. We’ll transform your vision into a reality, whether it’s adding a floor, revamping your existing space, or building your dream home from the ground up.