Inside the Simonds display home Kinane in Brighton East. Picture: Simonds
The benefits of a knockdown rebuild project are clear; stay in the neighbourhood you love while getting a brand new house – one you can customise to suit the needs of your family.
But to ensure a smooth process, it’s important to plan carefully, says Simonds chief of sales and marketing Shaun Patterson.
“The biggest tip, for me, is don’t rush the first part,” he says. “A lot of councils have very different requirements around (building) setbacks and designs.
“Making sure you’ve done that feasibility upfront with a builder and really spent the time on it means it will be a much smoother process going through the journey.”
A knockdown rebuild project undertaken by Simonds. The original house before demolition. Picture: Simonds
THE FIRST STEP
Feasibility is the first (and arguably the most important) step in a knockdown rebuild. This is where the suitability of the site and council requirements, like zoning and overshadowing, are carefully researched and considered. Bushfire requirements, access to the block and considering whether there is a slope are also important, Patterson says.
MORE: Dumb aircon mistake a million Aussies make
Update: Today’s report will trigger rate hike
Unlike building on vacant land, there’s also the existing house to consider, including its age, condition and whether or not it has asbestos.
He says a good builder that specialises in knockdown rebuilds should be able to offer some guidance.
Work in progress as the new house takes shape. Picture: Simonds
A computer render shows what the finished product will look like. Picture: Simonds
“There’s no commitment. Go and get all the information you can,” he says. “The builders will be able to do the siting for you and tell you what all the requirements are and talk you through all of that before you even talk about price or committing to anything.”
When choosing a builder, it’s a good idea to go with someone who has plenty of experience in the knockdown rebuild space, Patterson says. Transparency around pricing is also an important thing to look for, he adds. While Simonds offers upfront pricing, not all building companies do.
Simonds chief of sales and marketing Shaun Patterson. Picture: supplied
FUTURE-PROOFING YOUR HOME
When it does come time to get to the exciting business of envisioning your new home, he says it’s a good idea to consider what home life may look like in the future.
“Pausing and realising that life’s going to change over the next couple of years and the next 10 years,” he says. “If we don’t think about the future, we might not get the amenities we need.”
Inside the Simonds display home Castlemaine 44 at Bankside. Picture: Simonds
PRD chief economist Dr Diaswati (Asti) Mardiasmo says knockdown rebuilds are often popular with families who love their suburb and would need to spend far more to buy a comparable property. She has done the calculations on her own property in the Brisbane suburb of Acacia Ridge.
“For me, for example, if I was to try and replicate my house at 800 sqm in another suburb, it would cost me triple to actually get into that suburb with that type of house,” she says.
Knockdown rebuilds usually offer the best value in fringe suburbs that were once more affordable. Picture: Simonds
BANG FOR BUCK SUBURBS
Dr Mardiasmo says fringe suburbs that have been gentrified over the past decade often deliver the most bang for buck when it comes to knockdown rebuilds.
“A lot of the times when it comes to whether or not it delivers better value, it’s usually in a suburb that used to be more affordable,” she says. “Most knockdown rebuilds happen in suburbs that are fringe sort of suburbs from the CBD where, 10-15 years ago, you were still able to purchase, say, a really nice house on 600 sqm or an older house on 800 sqm.
“Usually there’s a lot of families there and beforehand when the person or the family bought into that place, it wasn’t such a known place, it was a more affordable place.
“The value is there because of the size of the land. The suburb itself would have grown over the past 10-15 years through gentrification and more commercial business into the area – and of course, the scarcity of houses as well.”
PRD Real Estate chief economist Dr Diaswati Mardiasmo.
She says while some people do knockdown rebuilds to create their “forever homes”, others do so with the intention of selling after five to 10 years’ time. In order to create the most value, she says it’s better to focus on inclusions that reduce the cost of running the home, such as solar panels, double glazing, water tanks, a grey water system and four or five star LED lighting.
MORE: Angus Crichton scores new $4.15m home
New forecast: What your home will be worth in 2027
$87k wipeout: common telco move devaluing homes
Help us improve your reading experience
Got a minute? Your feedback will help us build a better experience for you.
Help us improve this page
English (US) · 