Should You Go with Home Renovation or Start Fresh?
Home renovation can totally transform an old house. In some cases, the original structure is gutted to the studs (and even some of the studs may be eliminated) and then rebuilt to new specifications. At other times, only some of the house needs to be redone to this extent. It all depends on the goals for the house and its original condition.
There are some important benefits of home renovation when compared to new construction. It allows you to get a renewed house on the same land, which is a big plus if you don't want to move or if your municipality's building codes have been changed in ways that make tearing the old house down and building a direct replacement impossible or overly expensive.
New dream home construction, on the other hand, starts with bare land. A house built this way is done to your exact specifications right from the start. It, too, has its own unique benefits.
The first benefit of new dream home construction is that it starts out exactly the way you want it. You won't have to do anything to get rid of annoying elements, because they won't ever exist if the design is well thought out. Another benefit is that you shouldn't have to fix anything for years – just perform standard maintenance to keep everything in good shape.
One of the most important things to consider before new dream home construction begins is where you want the house. To have the most freedom in choosing your home style, you should get land that isn't in a planned community. It's also a good idea to choose a parcel with plenty of space around where the house will go. This will make it easier to build, and later, give you more privacy.