While the supply of land for housing in Greater Sydney is decreasing and lot sizes in general have been reducing in size for more than a decade, the suburbs themselves are currently on the cusp of revitalisation. It’s one of the many unexpected consequences of the COVID pandemic. We are seeing it in 2020, and we will continue to see it in our post-COVID world.
In a recent article in The Australian, demographer Bernard Salt noted that COVID is giving home owners more time to spend in their homes and their local communities.
“The great work-from-home social experiment is jolting into life the suburbs surrounding our biggest cities,” Salt writes. “And in the process, it is snatching time back from the commuting monster, returning it to those in Australia’s suburban heartland.”
Many experts are predicting that there will be a fundamental shift in the number of people working from home in the future even as we emerge from the pandemic. As a result, home owners are rethinking what they actually need in their home, and looking at ways to reimagine their existing home so it better suits how they now want to use it.
Knock down and rebuilds on the rise
Knock down rebuild projects have become increasingly popular since the early 2000s, following rapid increases in land prices alongside decreasing lot sizes in major cities.
With home owners spending more time at home, many are now reassessing their homes and what they want from it. For example, they’re realising that their homes are not well-equipped for working from home, especially if multiple family members are working from home. They’re realising that they want a dedicated home office room in their home, as well as other special use areas, such as a permanent home gym.
At ANSA Homes, in recent months we’ve seen an increase in inquiries from home owners in established suburbs across Greater Sydney looking to knock down their existing home and start afresh with a new design. They are telling us that they know, love, and want to stay in their local community, but their existing home no longer suits how they are now living. That’s why the idea of knocking down their existing home and building a new one on the same piece of land is so appealing.
“Even before the COVID-19 pandemic, many home owners were seeing the idea of knocking down an existing home and rebuilding as an attractive option,” says ANSA Homes Founder and Managing Director Mark Maloney. “With the growing shortage of land in the capital cities, more people are opting to stay where they are. They are choosing to knock down and rebuild, replacing their tired old house with a great new home.
Knock down and rebuild versus renovation
Before choosing between a knock down and rebuild and a renovation, it’s important to understand the key differences between the two. The main difference comes down to predictability around total cost.
Renovation costs are difficult to predict, so builders need to build a contingency into the quote to cover unexpected expenses that may arise. This is partly because every renovation is a bespoke project that is time-consuming and labour intensive.
In some cases, repairing major structural damage, sourcing the right kinds of materials, or modernising an old house to bring it up to date in terms of energy efficiency and overall quality has the potential to be very costly and time-consuming.
In contrast, brand new homes can be built quickly, using proven systems that maximise efficiency and save time. As a result, our customers are favouring knock down rebuilds over renovations to create the home they want to live in in 2021 and beyond.
When you build with ANSA Homes, we don’t just build your new home, we build your new home just the way you like it. To explore your knock down and rebuild options with ANSA Homes, contact our team on 1300 757 810.