When you love where you live but have outgrown your home or are ready for a fresh start, a Knock Down Rebuild is an excellent option. You get to stick with your much-loved location and community but also get a brand new home that meets your needs now and well into the future.

If you have been looking at knocking down your home to make way for a new build, you’re probably curious about how to budget for this journey. Let’s look at some of the areas to keep in mind when considering how much to set aside for your Knock Down Rebuild.

Designing and planning your new home

Part of the cost of a Knock Down Rebuild is on the design and planning process. This includes things like your floorplan, fittings, finishes, façades, site costs and more.

Building with Fairhaven Homes you will find that you get an incredible range of luxury inclusions to save you money, including superior foundations, stone bench tops, Colorbond^® roof and more.

Demolishing your old home

The Knock Down part of the process is saying goodbye to your old home to make way for the new one. The cost of demolishing a home varies depending on elements like:

• Building type (e.g. brick, weatherboard or something else)
• Council approvals
• Trees on the block

This cost will be made clear by your demolition company and ready for you to easily budget for it from the get-go.

Rebuilding

This is the most exciting part (other than moving in of course!). The final stage of the Knock Down Rebuild process is of course the rebuild.

The cost of your build will be based on the size of the house design you selected at the design and planning stage, including whether it’s a single or double-storey home. With Fairhaven Home’s long list of extra inclusions that meet the features that buyers really want, you’ll find keeping your build within budget is very achievable with Fairhaven Homes.

Alternate living arrangements during construction

While you’re waiting for your dream home to come to life, you will need to find interim accommodation.

The cost of this can vary based on your individual circumstances. For some, temporarily moving in with family may be an option.

For others, it may be more suitable to obtain a rental property to call home during this time.

You will be given a timeline to indicate the estimated construction time for your home to help you plan and budget accordingly.

Retaining equity

While building your new home and living elsewhere while it is being constructed are expenses to budget for, the Knock Down Rebuild process can mean you maintain a substantial amount of equity.

Your home may have reduced in value over the years, but no doubt your land value has continued to grow. Keeping that valuable pocket of land in a spot you love has financial benefits as well as practical ones.

Knock Down Rebuild with Fairhaven Homes

Did you know that knocking down your old home and building a new one can cost less per square metre than renovating?

Rather than trying to make the best of your old home, it can be more cost-effective to start over and get it right from the beginning. Plus, you can future-proof your new home for many years to come.

Start a conversation with our team here at Fairhaven Homes to learn more about our Knock Down Rebuild process and how it can help you achieve your property goals.