All Topics / General Property / When to knock down and rebuild?

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  • Profile photo of stu_maccastu_macca
    Member
    @stu_macca
    Join Date: 2007
    Post Count: 23
    April 2, 2008 - 5:21 am

    Hi,

    We have noticed that the amount of knockdown/rebuilds in our neighbourhood has dramatically increased in the last 6 months.  It seems like there is 1 or 2 or 3 in every street.  We live in Gladesville, NSW.

    Any ideas as to why this might be?

    I remember seeing a video clip on this site with Steve McKnight commenting on how the dynamics were changing as he progressed along the street.  Towards the end of the clip he arrived at an area where lot's of knockdown/rebuilds were happening, and he explained why.  I can't find the clip now.

    Does anyone remember the clip I'm talking about?

    Thanks,

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856
    April 2, 2008 - 9:15 am

    Generally you consider a knock down & rebuild when it is no longer feasible to keep the existing building ie it is at the end of its useful life eg the cost of maintenance is increasing dramatically, the cost of an upgrade/extension can no longer be warranted ie too costly to effect (refer to life cycle costing texts for more information).

    If you are planning to extend and it will cost $150k to add the extra bedrooms, ensuite, stairs & structural mods (plus repaint elsewhere, new kitchen & bath) then it may be more cost efficient to rebuild. The house may be unliveable for 6 months either way so it becomes a matter of economics rather than sentiment.

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