Renovation vs New Home: Which One to Pick?

Renovation vs New Home: Which One to Pick?

 Want to make your dream home a reality? One option would be to have a whole new home assembled to your bespoke specifications. Alternatively, you could get your existing home renovated — such as by bringing Outlast Builders renovation specialists to North Shore if you live in this NZ area.

Whether you should go down the new-build or renovation route will depend on specifics of your personal situation. Here are several variables worth weighing up…

Your Budget

The decision could essentially be made for you pretty quickly if it would be too expensive for you to snaffle land ideally suited to serving as the setting of a new-build home. This could be the case if such land is hard to come by and so tends to come at a premium. 

In contrast, a renovation project could enable you to keep a tight rein over your spending, since this work would be able to focus on delivering only the improvements you really need.

Your Personal Needs and Preferences 

Naturally, your lifestyle could have significantly changed over time. For example, if you switched to working from home during the COVID-19 pandemic, you might have decided to stick with this practice — potentially making a home office much more appealing to you now than back in 2019. 

Through arranging a new-build project, you can give yourself a home tailored to what you specifically require and desire in the here and now. While renovating a home can certainly transform it, you could still be left with superfluous elements, like empty bedrooms previously used by kids who have flown the nest. 

Your Long-Term Plans  

If your current financial situation would jeopardise your chances of acquiring a new-build residence in the foreseeable future, a renovation can be a more attractive option due to not only its potentially lower cost but also the market value this work, if done well, could add to your property. 

As a result, when the time is finally right for you to offload this home, a tidy profit could be waiting for you.

Rest assured that, if your new-build or renovation project will take shape in Auckland, we will be able to assist. We can send homebuilders and renovation specialists to North Shore and elsewhere in the New Zealand city and region of Auckland; please phone us on 0800 688 527 for more details.

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