Change your home not your address.
Generally, the value of this premium land has increased substantially in recent years across Sydney and regional NSW. These areas have become more and more desirable. This means the homes are often worth little more than the value of the land.
In these circumstances it makes financial sense to rebuild and change your home rather than move and change your address. The effect on your family is always transformational. You will retain a great established lifestyle and improve the value of your property.
What is knock down rebuild?
A knock down rebuild is when homeowners arrange to knock down their existing home and build a new house on their land, instead of renovating parts of their home or moving to a new location.
Why knock down and rebuild?
This gives you the best of both worlds - the home of your dreams in the neighbourhood you cherish. A perfect option for those who love where they live but feel as though their home is rundown, or no longer suits their lifestyle.
It makes sense for families to knock down and rebuild, rather than moving - especially since vacant land is difficult to find in many urban areas.
Knock down rebuild vs. renovation:
Many people are surprised to learn that major renovations can cost around ten per cent more than knock down rebuild projects.
Rebuilding from scratch is often more cost-effective than renovating your home, when you consider the dollar cost per square metre. Considerable savings occur with bundle work and the bulk ordering of materials.
Clearing a block of land is cheaper than knocking down sections of a property - which becomes complicated when you’re trying to protect the structural integrity of the home.
Other benefits of knock down and rebuild:
- You have more control over the project because you don’t need to compromise on existing design features that no longer suit you, or accommodate the original layout.
- The builder is starting from a clean slate, so they’re not restricted by the quality of the original design.
- Time savings: rebuilding is usually faster than renovating an entire home.
- There’s a good chance the value of your land has risen over the years. Rebuilding is a good way to further enhance the value of your property.
- Every section in your home is new and built to the highest quality. There’s no mismatch between refurbished areas and rooms that haven’t been renovated.
- You don't have to worry about sections of your home aging faster than others.
When to knock down rebuild?
- Your home is too small for your growing family
- Multiple rooms need renovating
- You desire a modern and contemporary house
- You love the location but not the home
- Can be more affordable than a brand new purchase
What is the knock down rebuild process?
Step 1 - initial enquiry: Our consultant meets with you to discuss how this all works. We help you to select an initial design and provide a ‘budget estimate’ so you know what to expect. We can also visit the site to give you an idea of any unforeseen issues.
Step 2 - finalise the design: Our consultant goes over all the design details with you, to make sure you’re getting the finest architectural support with all the modifications that suit the block and your lifestyle. They make sure the facade delivers your desired outcome.
Step 3 - FIXED price tender: We submit your request to our estimators to provide a FIXED price tender. There are no hidden surprises.
Step 4 - council and statutory approvals: If the tender is accepted, we then prepare all documentation for council development approval and construction approval.
- Handle all the required engineering
- Conduct the energy assessment
- Pay the homeowners warranty insurance
- Create a full HIA building contract that outlines the payment timeframes, our responsibilities and your rights
Step 5 - colour selection and finishes: This is normally done while awaiting the council permits. Our consultants help you to choose everything from the external bricks, colours and finishes to the interior of your new kitchen and bathrooms. This is something that many homeowners enjoy!
We also plan the electrical layout during this time and make sure that everything is positioned to suit your lifestyle.
Step 6 - starting construction: Now the action really begins, so leave it to us. Safety fences will be erected, demolition will take place, and your dream will start to emerge from the ground. This work will be supervised by qualified builders who oversee the quality at every stage.
Every tradesman working on your site is required to meet strict criteria, including having a license, following OH&S and honouring the Bellriver quality code (which goes beyond even the standards of the Building act).
Step 7 - move in!
How long does it take to knock down rebuild?
It generally takes 10 to 12 months to complete a knock down rebuild project. However, it can take more or less time, depending on the scope of the project and multiple variables.
- Weather conditions
- Local planning approval
- Council permits
- Location of your property
- Soil issues
- Tree removal
- The disconnection and removal of services, such as water, gas and electricity.
We can provide a more accurate time-frame after assessing your property in the initial phase.
How much does it cost to knock down and rebuild?
Knock down rebuild prices vary, depending on the scope of the project.
The demolition process usually costs around $10 000 to $15 000.
In terms of the rebuilding, costs can range from ….. to …….. based on multiple factors, such as your location and specific requirements.
You could use a knockdown rebuild calculator to calculate what the final cost may be.
How to finance a knock down rebuild project?
Most lenders offer knock down rebuild home loans. This works in a similar way to a standard home loan - you need to show proof of adequate savings and income.
If you’re using a licensed builder, you can usually borrow up to 90 per cent of the land value, or the majority of the total cost of land.
Those who tackle this project themselves (with no builder) can borrow up to 60 per cent of the cost of the land.
Does Bellriver handle knock down rebuild sloping block projects?
If your home is on a sloping block, consider yourself blessed. Sloping blocks are popular because of their sweeping views, although they can be hard to come by.
Having said this:
Sloping block projects cost more than rebuilding on flat land. There are often engineering and landscaping problems to overcome, which demand more resources and time.
It’s important to work with knock down rebuild specialists (like Bellriver) who have experience in this area, as sloping blocks are challenging in the wrong hands.
What about a knock down rebuild duplex project?
It’s definitely possible to knock down and rebuild a duplex.
There are two approaches:
- Rebuild the two halves (if you own both)
- Rebuild the half that you own
Is only one half of the duplex being knocked down and rebuilt?
In this case, there are various considerations to take into account. For example, you need permission from the connected property owner, as well as council approval.
Please note, demolition and rebuilding can take longer when you need to preserve the adjoining house.
Is there a capital gains tax on knock down rebuild?
The land that you rebuild on usually isn’t exempt from the capital gains tax until the dwelling becomes your main residence.
There are exceptions to this rule, which allow you to treat the land as your main residence for up to four years before the dwelling becomes your main residence.
The Australian Tax Office has more information here.
What is the Bellriver difference?
Our specialist team of designers, draftsmen, quantity surveyors and builders work together to deliver a streamlined, easy and cost-effective solution.
- Our prices are fixed and all inclusive: no hidden surprises
- We can alter our designs to fit your specific requirements
- We assist you through the entire process, from start to finish
- The demolition service is organised by us
- We’re always upfront about cost and inclusions
Contact us on 1800 200 888 to find out more information.