Rachel Quilligan considers the benefits of building a new home over renovating.
It can be tough choice to face after buying the ultimate ‘fixer-upper’ – whether to go through the hectic process of renovating or knock it all down and start again.
While keeping the historic look of the house helps maintain the feel of the area, Chris Cody from Hotondo Homes says a new build can preserve the neighbourhood aesthetic while still introducing all the modern elements that make a new home so desirable.
“We have a variety of homes that are in-line with the traditional façade and streetscape of the Queensland market, but we also have homes with a modern interior and fascia,” says Cody.
“New homes are smarter homes. They are built using the latest technologies in structural integrity and energy efficiency. You really can’t compare the benefits of rebuilding to renovating.”
Location, location, location
It can be difficult finding the perfect house in the perfect spot — and then there’s also the stiff competition from other buyers.
Cody says building a new home is the best way to achieve a dream design that also suits your lifestyle.
“It essentially provides you with a blank canvas,” he says. “If you don’t want to move away from the residentially dense and well-serviced areas of Brisbane, a knockdown-rebuild project is the best way to get the home you want.”
It can also be an effective way of entering the investment market.
“We have recently added duplex designs to our range,” says Cody. “This is a great option for investors who want to build two dwellings on a narrow block and yield two rental returns, or sell one and rent out the other.”
Great Start Grant
Since the Great Start Grant is only available to first-home buyers who are moving into a newly constructed home or building their own, it’s an extra incentive to build for those taking the plunge into property.
“The $15,000 Great Start Grant does more than just help first-home buyers get a leg up; it also helps employ a lot of people in the domestic construction industry,” says Cody. “From the builder right through to the carpenter’s apprentice, the effect on Queensland’s economy is quite significant.”