Location! Location! Location! You hear it all the time on any one of the numerous HGTV shows out there. It’s true, you can always change the house but you can’t change the location. Good schools, a short commute to work or restaurants and close to entertainment and other events are amenities that homeowners and homebuyers love. Unfortunately, ticking all these boxes in the wish list may only be possible in older fully developed neighborhoods.
So, how can you find a new up-to-code, cost-efficient home that meets needs of the entire family without suffering through years of various remodels and renovations?
One, not so obvious, option people across the country are choosing is a teardown and rebuild. By tearing down smaller outdated homes with obsolete plumbing and electric, Cogdill Home Builders can rebuild your family a significantly stronger and substantially more sound home.
At this point you may be asking, what is teardown and rebuild and am I a candidate? Let’s break it down one step at a time.
What is a teardown and rebuild?
A teardown and rebuild is the process of removing all or part of an existing structure and replacing with new construction. As I always say, when its time to re-paint, just tear down and rebuild! The term was coined during the housing boom circa 2006, typically in reference to the mega mansions and multi-million dollar homes. This process entails the destruction of dilapidated homes beyond repair, whose main value is in the lot they occupy, and constructing a replacement home from the ground up.
There are pros and cons in any situation and with a teardown and rebuild is no different. Homeowners and homebuyers are more often than not finding the pros vastly outweigh the cons. The benefits of a teardown and rebuild include:
- Low maintenance, energy-efficient, uniform and better constructed home meeting current 2010 building codes.
- significantly stronger foundations and structural systems
- Less difficulty in obtaining homeowners insurance,
- Potential local, state, or federal tax deductions.
- savings on impact fees as compared with building new on a new property.
What does a teardown and rebuild candidate look like?
There, of course, is no one specific method of picking out a teardown and rebuild candidate. A variety of factors can impact a home’s value and potential. The typical candidate does however include the following:
- Smaller than average and outdated in its current neighborhood.
- Structurally unsound or requiring a whole house renovation.
- Valued at two to three times less than slightly above the average cost of a home nearby (will generally sit on the market for long periods of time)
- Insufficient plumbing or electrical wiring
- A home you are simply tired of!
Teardown and rebuild candidates are not difficult to spot for a professional but can provide a variety of benefits.Cogdill Home Builders will sit down and discuss your options. So, before you go on a demolition derby with your kitchen counter and a hammer, read through the demolition, teardown and rebuild checklist and call me, Mike Cogdill direct at 813-486-9099 to discuss your demolition and rebuild needs.