In many cases, demolishing an old house is cheaper than a complete remodel, with or without an addition. It really depends on the house, its location and its situation. I think it all comes down to how much you want to change in the house. As you said, if you are going to change a lot, then it's better to just tear down the house and start from scratch.
However, you can check if you can use the existing base. Unlike remodeling a kitchen or bathroom, a bowel renovation involves significant demolition, as it takes the house completely to its foundations. In some situations, it takes more time and more money to tear down and renovate a house than to rebuild it. The age and condition of the home, the complexity of local building codes, and the availability of labor and materials can affect the cost of a bowel renovation.
Because budgets and estimated timelines vary widely from project to project, deciding whether to rebuild or renovate remains a very personal decision. In his article “Should I renovate my house or tear it down and rebuild it? for EcoHome, explains Mike Reynolds. He writes that “there is a dialogue that you must have first with yourself and then with the right professionals, to make the right decision for you. Among many other “emotional and logistical” factors, homeowners must consider whether the layout of their home meets their present and future needs, if the house is well positioned to take advantage of the construction site, and how well the current design of the house on the market would work if it were put up for sale.
Homeowners should also consider how easily they can obtain financing for their new construction or intestinal remodeling project and how long they can afford to live elsewhere. Next, we help homeowners answer whether they should remodel or rebuild their homes by answering a myriad of questions about costs, efficiency and ROI. While gut renovations may be the right choice for some homeowners, Davis notes that “if your home needs a complete renovation, then a remodel isn't for you. If you buy a home with the intention of destroying it, include it in your budget for what you are willing to shell out on a home.
However, if you're completely destroying the house or if the house will be unoccupied for an extended period of time, you may need a builder's hazard policy or an unoccupied housing policy. People often talk about gutting a house when they simply want to say that they are planning to remodel their homes.