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Building vs Remodeling a Home: Which is Better in 2022?

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If you need to do something different with your home, you have two basic options. You can remodel the home you have or a fixer-upper you purchase, or you can look into buying land and building a home that meets your needs perfectly. Both options have merit, so which is better? Here is a closer look at what options work best in 2022.

General Rule of Thumb

As a general rule of thumb, renovations will be more affordable than building a home from the ground up, even if you have to buy the home to fix. When the property is already there and the home’s basic structure is already in place, there are fewer expenses. If budget is the primary consideration, then you want to look at remodeling. That said, renovation almost always costs more than building because the building team may discover problems they didn't see at the beginning of the process. Always plan a little buffer into the budget if you are

On the other hand, if personalization is your primary focus, then building new is the best choice. New construction homes in Cincinnati can be customized to be exactly what you want them to be. Choose hardwood floors, customized lighting, and even changes to the floor plan itself to make the home exactly what you want it to be. Custom dream homes give you the best opportunity to showcase what you really want with your new property.

Consider the Regulations

Some areas of Cincinnati have a lot of rules about renovation or building. You will need to follow these with whatever path you choose. If you are looking to buy land or a property to renovate, make sure you check the regulations of the lot and the neighborhood. This may help you choose the right option for your specific needs.

The Time Frame

The time frame of renovation versus building new is also a consideration to make. For most projects, renovation is faster. The frame of the home is already in place, and all you are doing is updating and upgrading the structure. With a new build, you also have to excavate, grade, and prepare the site itself. That said, older homes, particularly older homes that may need new wiring or structural elements, may not be faster. For historic and older properties, it may be faster to sell your existing home and build new. When considering building your dream home or upgrading your existing home, talk to your builder about the time frame they anticipate for the project.

Option for Customization

If you want a lot of customization in your new home, then building a custom home is a better option. When you build your dream home from start to finish, you are able to add the custom features and design ideas that you want. This may not be possible when updating an existing floor plan. Building new is particularly helpful if you are looking to have a modern home. You can design all the features to meet modern design themes, whether you are embracing an open floor plan or something more compartmentalized.

Factors That Mean Remodeling Is Unwise

In addition to these considerations, there are some factors you need to look at that may make a remodel a bad idea. For example, if the home does not have a structurally sound foundation, renovation is going to be costly and difficult. Instead, you will want to consider building new. If the home has good "bones," but needs an update, remodeling will be faster and more affordable.

Similarly, if you are dealing with an older home that has water damage, you are facing a health issue. This may not be the best time to consider remodeling. Instead, building new will help you avoid the problem.

Discuss Your Goals with Your Building and Renovation Team

As you consider your options for building versus remodeling, consider having a discussion with your renovation or building team. Discuss the custom home building process or what might be possible with a remodel. If you have a property or a property you are considering for renovation, discuss the renovation with a builder first. If you are considering building a modern home from the ground up as new construction, discuss the costs and timeline with your builder. With the right building team on board, you will be well-prepared no matter which process you choose.

As you shop for custom home builders, consider Chris Gorman Homes. We offer a free consultation to discuss your design needs. Because we are a design/build firm, we work with you for the entire process, from the initial design to the final project. Let our team help you determine if building or remodeling will be the right choice for your needs. Visit our gallery of finished projects, or reach out to see more about our home building and renovation process.

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