Building vs. renovating – which is best and what are the pros and cons of each option?

For thousands of Australian homeowners, it’s a question that they will need to weigh up when it comes to renovating their home. Starting from scratch or building will have a huge impact on timelines, budget, and (of course) the end results.

If, like many Aussie homeowners, you’re stuck between building and renovating, this article is here to help. We’ll run through the benefits of building a new home from scratch vs. renovating an existing structure and explore why so many homeowners are opting for a new build in favour of renovations.

Buildings vs. Renovating – What’s the Difference

Before we jump into the benefits of building vs. renovating, let’s first establish the key differences between each avenue. In most cases, “building” will refer to a completely new structure where the house has been constructed on an empty piece of land that has either never been built on or has been prepared for a completely new build. 

Conversely, renovations refer to works that are carried out on an existing structure. Depending on the nature of the works, renovations will usually involve alterations or improvements to the interior or exterior of the existing structure to achieve a desired aesthetic.

Benefits of Building A New Home

So, if you’re looking to build a completely new structure, what are the pros and why should you consider this avenue? Well, here are some of the most common reasons that homeowners will opt for a “new home build”.

Modern & New

Perhaps the best reason to build a new home vs. renovate an existing one is that you get a completely new structure and fit out. A modern and new build means a sound, compliant structure that has been designed to meet all relevant building codes. Modern structures also mean modern fit-outs to suit the latest trends and utilising modern tech to make the space more ‘liveable’ and comfortable.

No Existing Issues

Building a new home to the latest building standards means that you won’t be inheriting any existing problems such as outdated or unsafe building materials, poor ventilation issues, pest issues, or any other structural issues.

Renovating an existing home can seem like a cost-effective avenue, however, it’s important to remember that old buildings are (in most cases) not built to the same standard using the same modern materials. For homeowners, this means that they may be inheriting a fleet of existing issues that will need to be addressed piece by piece. For first home buyers, buying a new home that meets the latest safety and quality standards provides peace of mind and is a sound first investment with minimal upkeep.

Customisation Potential

Building a new home provides unlimited flexibility and customisation potential to suit your taste and your lifestyle. Whether you’re building off the plan with a house and land package, or you’re going down the avenue of a completely custom build, a new home provides an unmatched level of flexibility on design and fit out.

“Turnkey” Solution 

Perhaps one of the most attractive elements of a new home build is that it is a completely ‘turnkey’ solution. For those that don’t want to be overly involved in the renovation/build process, a turnkey solution means that you can sign off on the plans and then leave the builders to take care of the rest.

Predictable Costs 

A new home build provides a level of predictability when it comes to costs. For those opting for an ‘off the plan’ option, a new home build means that your final costs should not deviate from your building estimate. Conversely, going down the avenue of renovations means that unexpected costs can crop up along the way. Whether that means the discovery of ‘worn’ structural elements of pest issues, renovations can present a crop of issues that new home builders won’t face.