© Property Professor articles — www.thepropertyprofessor.net.au.
Reproduced with permission.
Should you renovate or knock-down and rebuild? Peter Koulizos from Property Planning Australia says rushing into cheap renovations is not always the best option. Several reasons why knock-down and rebuild can be more affordable than renovating are:
1. You can start from scratch and design the house exactly how you want it.
2. It is a better long term investment. You have the house you really want, thus better re-sale value in the future.
3. Building new in a nice area will reap you more benefits. Work out your figures – do your sums before you start.