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Remodel or New Construction: What Is Right for Your Project?

Remodel Renovation New Construction NJ Architect We are just out of room,"This house has absolutely no storage space," "The floor plan of our home is not practical for our family anymore": These are all common complaints of homeowners. When you face one of these problems, or one of the myriad other issues homeowners have with the layouts of their homes, the question then becomes what to do about it. Is the home worth remodeling, or is building a new house that fits your needs to a T the better solution? Before making a costly and life-changing decision, consider the following pros and cons of each option.

New Construction


Pro: Location

Building a new home from scratch is the perfect opportunity to get into the location you have been vying for. As long as a lot is available and is within your price range, there is no reason not to build in your dream neighborhood. If a neighborhood is not what you seek, explore the tracts of land in the N.J. countryside.

Pro: Custom Options

With new construction comes the option to completely customize your home. During the design process, add elements such as bonus rooms, additional storage spaces, more bedrooms, walk-in closets and more that add functionality to your home. There is no need to worry about working around the previous homeowners' designs, the project is truly yours.

Con: Timeline

The process to build a home from start to finish, including searching for a lot, securing a construction loan, closing the loan through a title company and completing the actual construction process, is quite long. On average, a new-construction home takes between 6 and 8 months from breaking ground to completion. However, sometimes there are unforeseen factors - weather, problems with the site itself - that cause delays in the construction process.

Con: Costly

There is no way around it, building a new home is costly. Within your budget, you must consider what type of finishes are available. Higher-end finishes and building materials cost more, as do larger homes. The expertise of your architect is beneficial when it comes to choosing the most cost-effective materials, floor plans and building solutions.

Remodel


Pro: Saves an Existing Home

With the influx of newer-construction properties in New Jersey and elsewhere in the country, historical and older residences are becoming fewer and further in between. When remodeling an existing home, we have the opportunity to preserve details that might otherwise be lost. The charm of yesteryear is difficult to recreate within most new-construction budgets.

Pro: Opportunity to Flex Creative Muscle

Even though there are certain parameters to work within when remodeling a home, there is still ample opportunity for creativity. Sometimes more so than when working with new construction, due to the problem solving that must be done. Architects are skilled at creating designs that incorporate moved or removed walls and that provide unique solutions for the floor plan problems of years past.

Con: Risk of Overimprovement

When remodeling a home, there is a fine line between being on track with other properties in the region and doing too much improvement. Homeowners who remodel run the risk of putting too much money into their home and outpacing their resale value. Because not all renovations add significant value to the home, yet they still cost a great deal out of pocket, an architect's team is an invaluable source of information.

Con: Unexpected Costs

With nearly every project - new construction and remodels - there are unexpected costs, but this is especially true in remodels. There is no way to know what lurks beneath the surface of the home until the walls, floor or ceiling are opened up. Sometimes there are no road bumps at all, but this is not always the case, especially with much older homes in which quirky building practices were used.

When it comes to getting exactly what you want in a home, there is so much to consider. Whether you choose to stay in your current location and remodel your existing home or decide building a brand-new home is the route for you, a skilled architect is essential to the process.

Please feel free to add thoughts in the comment section below!