Davoro Developing Spaces, Creating Futures

Renovation vs a new property.

Renovating a house instead of buying a new one can be a smarter financial and emotional choice for many homeowners. It allows you to customize your living space according to your unique needs and preferences without the high costs and stress of moving. Renovation can often be more cost-effective than purchasing a new property, especially in competitive housing markets where prices are inflated. Additionally, staying in a familiar neighborhood with established routines, schools, and community ties can offer stability and comfort. By updating and improving your current home, you can increase its value and functionality while preserving the sentimental attachment you’ve built over time.

How its cheaper.

Renovating a property is often cheaper than buying a new one because it allows homeowners to avoid many of the high costs associated with purchasing a new house. When you buy a new property, you typically face expenses such as real estate agent commissions, stamp duty or transfer taxes, legal fees, and moving costs, all of which can add up significantly. In contrast, renovating focuses spending directly on improving the existing structure, which can be done in stages according to your budget. Additionally, renovation projects can increase the value of your current home without the need to pay a market premium for a new property, especially in areas with rising housing prices. By upgrading key areas like kitchens, bathrooms, or energy systems, you can enhance your living space and long-term property value at a lower overall cost than starting fresh with a new purchase.

Save money and get that bespoke home you want.

When considering renovating a property instead of buying a new one, cost is a major factor that requires careful evaluation. Renovations can often be less expensive than purchasing a new home, especially when factoring in real estate agent fees, stamp duty, moving expenses, and the higher price tag of newer properties. However, renovation costs can also be unpredictable—unexpected structural issues, permit requirements, or design changes can quickly drive up the budget. It's important to get detailed quotes, set aside a contingency fund, and consider whether the improvements will add sufficient value to the home. Long-term savings may also be gained by upgrading insulation, wiring, or plumbing during renovation, but these need to be weighed against the upfront investment. Ultimately, a clear financial plan and a realistic assessment of renovation scope are essential to determine if staying and renovating is more cost-effective than buying new.

Get a free consultation.

Contact us to get a free consulation today and find out how we can help make your property the best it can be. We can help with the following aspects.

Planning applications.
Building regulations.
Design and functionaility.
Optimal athetics.
High end bespoke materials.