Renovate or build new.

[pat2468]

Hi,
I have planning for a 2900sq ft new house on my parents land. My parents now want me to consider taking there existing 5 bed farm house and build them a adjoing small granny flat to save money and this would suit them. Due to other buildings being attached to the house, construction of the granny flat could make some use of these buildings.
The house i have planning for will cost aprox €330,000 to complete. My parents house is in good structural condition. Costs would be some building changes, impoved insulation, electrical, plumbing and kitchen etc.
How best to prcoceed?
If we go an use a professional to redesign the existing house to make it our own and also build the granny flat and end up spending the cost of the new build? Is there a rule of thumb of which option would be most cost effective. I know the condition of existing house will make a big difference and we are also well aware of the issuew of moving close to family.
Any help would be great.

 

[Leo]

If you simply approch it from a cost-effectiveness point of view, then it's simple maths. If you rennovate, how much will it cost and what will the finished article be worth? Will that be more than the new build plus the existing dwelling taking into account the new-build cost?

As you imply, there are more things to consider here though. Would you be happy living so close to your parents? Are there others involved whose thoughts need to be considered?

The other buildings attached to the house may cause more of a hindrance than an advantage if they're not up to modern domestic dwelling standards in terms of damp-proofing, insulation, etc. A survey would be required to find out. Talk to an architect as well, see what the options are to modify and extend the structure of the existing dwelling to meet the needs of all involved.
Leo

 

[lowCO2design]

Hi,
I have planning for a 2900sq ft new house on my parents land. My parents now want me to consider taking there existing 5 bed farm house and build them a adjoing small granny flat to save money and this would suit them. Due to other buildings being attached to the house, construction of the granny flat could make some use of these buildings.
The house i have planning for will cost aprox €330,000 to complete. My parents house is in good structural condition. Costs would be some building changes, impoved insulation, electrical, plumbing and kitchen etc.
How best to prcoceed?
If we go an use a professional to redesign the existing house to make it our own and also build the granny flat and end up spending the cost of the new build? Is there a rule of thumb of which option would be most cost effective. I know the condition of existing house will make a big difference and we are also well aware of the issuew of moving close to family.
Any help would be great.

2900sqft - that's a monster - have you considered a consultation with a QS.. they are best placed to offer you advice regarding this cost conundrum. In my experience don't under estimate the cost of retro-fitting to modern standards - however that said, depending on how you approach or possible stage-out a retro-fit/ extension it could be a far cheaper option reducing any mortgage..

 

[aoc]

have a look for a local architect on the simon open door site, i think it is in may this year. http://www.simonopendoor.ie/ - you get a consultation with an architect for an hour for €50.00 . if you have ny plans / drawings of the house bring them, make a list of your questions or queries that you can think of, have your budget figure in mind.