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Shall We Just Knock Our House Down?

Shall We Just Knock Our House Down?

I’m often asked to explain the pros and cons of Refurbish versus New Build. It’s a common dilemma for our clients, and this blog post aims to answer the key points you need to bear in mind if you are considering which option is best suited to you.

On paper, refurbishing an existing detached building seems like a cheaper alternative to a new build. However, the big drawback is that it means you will always be restricted by the existing structure, design and spaces.

Demolishing an existing property gives you the freedom to change the entire style and tailor the proposed house to suit your needs. This will make your new home truly “Bespoke”. I believe that if you are developing your “forever home”, then what’s the point in doing it half-heartedly?

I think it’s so hard to come across a decent residential site that suits your needs – and when they do come up they are snatched up by aggressive developers panic-buying and paying over market value. For this reason, a pragmatic approach is often essential.

I believe that if you are prepared to think outside of the box, it is often possible to achieve a result that fits exactly with your requirements by rebuilding an existing dwelling, provided you do a really good job and do not end up building something too similar to what you started with.

With this approach, you also get the benefit and saving of having the services and drainage already in place. As mentioned in our last blog, a new build currently carries a discounted VAT rate of 0%, therefore if you knock down an existing building and rebuild, you actually save 20% across the entire project – and you wouldn’t if you refurbished.

It has also become much easier to finance a new build using a self-build mortgage over the last few years, and I will be writing a blog soon to hopefully help explain this as much as I can.

So go on – go out and buy a cheap, “disposable” static caravan (possibly all part of the fun), pack up the family for an adventure and stop dreaming.

I do hope this helps slightly if you are deliberating on what steps to take next. If you are serious about building your dream home and would like to talk further, please call Bespoke Builders on 01179 248335 and we will be more than happy to help and discuss the feasibility of your proposed scheme.