The decision between home renovation vs a newly built house takes some serious thought process. Each of the two approaches has its benefits and possible disadvantages:
Renovation is often less expensive and less invasive, but you can improve and adapt the space you already have. On the other hand, new construction provides a chance to build a new home where modern technologies and energy-efficient designs are incorporated.
As a leading home renovation company in the Greater Moncton Area, NYCO Renovations created this guide to help those who want to make the right decision. Since we position ourselves as the one and only complete reno solution in the province, we feel we have some expertise to share in this area. This blog will assist you in comparing the advantages and disadvantages of each and then lead you to the right decision.
House Renovation
Benefits of House Renovation
There are many upsides to remodeling your existing home. Firstly, it enables the owner to retain the original feel of their space while making improvements. Renovation costs comparatively less than new construction; therefore, people can make massive changes in their homes without blowing the budget.
At NYCO Renovations, we also offers full-package home renovation services that guarantee that your home suits your current lifestyle. If you need to modernize your bathroom setup, craft your dream kitchen, or add living space to the basement, our professional renovations team will fulfill your goals and redesign your space to meet your needs. Most of our clients have enjoyed having a new home feeling without undergoing the rigour and timelines of new construction.
Types of Renovation Projects
Basement Renovation Services
Renovating an unfinished basement provides more usable living space. Our basement renovation services can transform this space into a beautiful and practical area of your home. Basements are an excellent location for a living room, a workspace, or a guest bedroom.
Using all the available square footage of your home will open up your options, and it doesn’t hurt that it can add a ton of value, too!
Bathroom Renovation Services
Bathroom remodeling is another option for making your life more comfortable and increasing the value of your house. As a premier bathroom renovation company, we aim to update the bathroom’s look and layout to fit your needs and wants.
These upgrades may include new lighting, a more cohesive feel, and enhanced finishes that can help give a dull bathroom a new look. Plus, our designers can provide suggestions for maximizing the space. They will fit their advice to your lifestyle, which can include accommodating special tubs/showers, using water-efficient fixtures where possible, and ways to fit the space to your unique and personal style.
Kitchen Renovation Services
We all know the value of a functional kitchen space. Maybe it’s that you’re always bumping into your partner while cooking together, or maybe your layout doesn’t allow for efficient entertaining of guests, or maybe it’s just that you’re tired of dated cabinetry. Our kitchen remodeling services aim to develop a kitchen that will not only look good, but will be functional. As a leading kitchen renovation company, We believe it’s all about atmosphere in the kitchen. At NYCO Renovations, our goal is to create a room that is a culinary creativity zone for cooking, and a space your guests will want to be.
New appliances, gorgeous countertops, and beautifully designed cabinets can make a massive difference in your home’s efficiency and beauty. Gone are the days of Aunt Susan’s comments about sticky drawer pull-outs, or how your kitchen reminds her of her first kitchen in the ‘90s. Our designers will be by your side, helping guide you to the elements that will make your kitchen the perfect area for hosting your next Thanksgiving. They’ll make sure every detail, down to the cabinet handles, will perfectly complement each other.
Living Space Renovations
Increasing the size or remodeling existing living areas, like the living room or the bedrooms, will go a long way to improving the comfort and functionality of your home. Such improvements may involve incorporating new systems of storing items, changing the floor finish, or incorporating new types of lights.
This allows you to adapt these areas to your needs, making it easier for you and your family to have a comfortable and resolves issues of wasted space. Remodeling the interior of your house can also increase its value in the future when you want to sell it.
Additions and Outdoor Renovations
Exterior remodeling can include improvements to your patio, deck or yard, increasing your living space and the appeal of your home. The construction of an outdoor living space, like a gazebo, will offer the customer an ideal place to host guests or engage in family functions. In the same respect, landscaping, when done well, adds value to the property and enhances its aesthetic appeal.
Many of the clients with us at NYCO Renovations seek expansion of their living space through an addition. The goal is to increase the square footage of the home to adapt to the lifestyles of the homeowner. As with most renos, a good addition is a great decision for home value and, perhaps more importantly, improved quality of life of the homeowners. Imagine what a little extra space in your home might allow you to do! Some clients seek out this option for more room in their kitchens or to create sunrooms. The options with additions are endless. Keep in mind that due to our Canadian weather, additions need to be built in the warmer seasons, so make sure to plan out your timeline. That being said, reaching out a little early never hurts, as this allows our estimators the time to prepare the proposal. Best months to request this type of work are typically late winter / early spring.
New Construction
Advantages of New Construction
There is nothing quite like constructing a home from the ground up, since it means one can design the home of one’s dreams. It allows for complete customization and incorporating advanced technologies and modern materials into construction.
New construction also provides the opportunity to install modern energy-saving elements, which are more beneficial in the long run. You can choose the location, design, and even type of finishes and materials for your new home, making it ideal for your specific requirements.
Moreover, new construction enables homeowners to install smart home technologies from scratch, including sophisticated security, entertainment, and home automation systems.
Drawbacks of New Construction
However, new construction also has its difficulties. Generally, it entails more expenses and time than renovation and is often a solution for buildings that are unable to meet code as they stand. They also have to consider permits, zoning requirements, and the likelihood of encountering some issues during the construction.
Because of these factors, many homeowners find renovation the better choice for them. Also, identifying a proper plot of land and overseeing construction from planning to implementation can be rather complex and time-consuming. There is also the problem of exceeding the set budget and time frame, which creates additional pressure.
House Renovation vs New Construction
Cost Comparison
When it comes to cost, renovations can be more affordable. With a reno project, a client can choose to have a small or large scale depending on their budget , while new construction generally requires more significant financial investment. We all like to avoid over-spending and blowing budgets where possible, making renovations a good option for those who have fixed amounts in mind.
Renovations are more accessible because you can plan for phased projects and address areas that require urgent attention while leaving out others for some time. Many clients opt to do one room at a time, which allows them to set and maintain reasonable budgets. Also, renovation costs are usually lower than new construction since the latter will likely experience new challenges, leading to additional expenses, whereas we pride ourselves at NYCO for the accuracy of our quotes
Time and Disruption
Renovations are usually quicker and less invasive than new construction because they do not require long construction periods. Renovation services are relatively easy to access, and most of the time, one can continue living in the house during the process. This is especially important to families who want to avoid being inconvenienced by construction, which may take some time before completion.
On the other hand, the owners who plan for new constructions have to be relocated and find an interim place to live until the construction of their house is complete. According to the U.S. Census Bureau’s study, “the average length of time from start to completion of new privately owned residential buildings is approximately 7.6 months”. This can further increase the expenses and time required to accomplish the project.
Customization and Flexibility
New construction offers the best opportunity to do this since it comes with a blank slate, but renovations are faster and more cost-effective, and can be highly customized. Through our home renovation services, we can help you achieve your vision for your home without building from the ground up. Renovations allow our clients to maintain and enhance the house’s features while giving it a more updated look.
Environmental Impact
Renovating an existing home, which involves using existing resources, is more environmentally friendly. New construction can also have energy-efficient and green designs; however, the construction costs are relatively high because structures are built from scratch.
Renovations are also more environmentally friendly since they produce less waste than new constructions, due to less demolition and construction. Using available structures is a more sustainable way of conducting home improvement. In addition, remodeling may also entail incorporating energy-efficient systems and materials to decrease your home’s environmental impact.
Property Value
Renovation also enhances a property’s value, and so does new construction, although the extent may differ. Remodeling, particularly by a professional home renovation company, can present a sizable profit by upgrading essential spaces in the house, which buyers will see as creating more value.
New construction has the potential for value as well, but getting the return on investment usually takes much more time. While prospective clients love the idea of new builds, the cost can be impractical.
Conclusion
Overall, house renovation and new construction each provide certain advantages. Nevertheless, renovation is less costly and invasive and a more environmentally friendly solution for many homeowners AND it has the best return on investment! NYCO Renovations is ready to assist you in your renovation dreams of improving your living space.
You can hire us as your renovation contractor for a kitchen remodel, bathroom remodel, basement remodel, or any changes you want to make to the exterior of your home. Contact us today for a consultation and see how we can help make your dream home a reality in your living space.
