Extend or knock down and build from scratch?

T

turnips

Guest
I live in a 1960s bungalow on a really well located site, about 2/3 acre. Great location, close to town, walking distance town centre, schools, church, sports clubs.
I've done nothing with the house in a good no of years and it's in deed of extending and refurbishment..
Cost of a moderate extension on house I'm told will be around €100,000.

It has been suggested to me that I'd be better off knocking it down and building from scratch. A new 2 story could be built for less than €250,000.

this isn't hwat i had been thinking of but now I'm wondering would it be the best option.

Any suggestions?
 
While living in a house that is a partial building site can be stressful if you knock the place down altogether you would have to also factor in the cost of renting alternative accommodation for the duration of the build, as well as the additional mortgage costs. Do you like the house, the layout etc, Is it well-built, comfortable, insulated, not damp, etc.? Is it easy to extend (as in would the current layout be easily extended) or would you have to heavily modify the current layout to allow you to extend?

I suspect if you haven't considered knocking it down already then the house is in good condition overall and if you were considering an extension it must be viable to do so, so what would be the advantage gained from knocking it down? Would it provide you with an increase in value over and above the value if you merely extended it? Would that value increase cover the cost of knock & build plus additional mortgage and rent?

You need to draw up a comparison of reasons and costs and see which one is the most advantageous to you overall. Gut instinct says to me that knocking it simply for the sake of having a newer property doesn't seem quite enough reason unless it would significantly increase the value of the property or there are serious structural issues that cannot be easily resolved.
 
I doesnt seem to make much sense to knock and rebuild, Can the house be gutted, are the interior walls studded(non load bearing), and redesigned internally, and add an extension. I think 100k sounds expensive unless it is huge. Where is the location? Builders can vary from e75 per square ft to 150 e per sq ft.
 
Hi there,

It is a bit of a dilemma alright. But don't forget you also have to pay to have it demolished - can be quite costly, perhaps you could salvage and sell on some of the slates, timber etc. Correct me if I am wrong but do you not also have to get permission to demolish (demolition order) from your council? The good thing about starting from scratch is that you can have a well insulated house providing you go for all insulation and good windows and "future proof" your house. Go through figures taking into account your demolition, renting and rebuild or extension - inconvenience etc, think about it for while. I know doing your extension could well cost E100,000 - doesn't surprise me at all - sometimes the smaller the job -the more it costs.
 
You must log in or register to reply here.
Menu
Log in
Register