Is renovating an old house worth it?

is it wise to renovate your house

Remodeling an existing home can be rewarding, but it comes with potential risks and challenges:

  1. Cost Overruns: Renovation projects often exceed initial budgets due to unforeseen issues, plan changes, or unexpected expenses.
  2. Hidden Problems: As you start remodeling, you might uncover hidden structural, electrical, or plumbing issues that need immediate attention, adding to your costs.
  3. Timeline Delays: Renovations can take longer than expected due to construction challenges.
  4. Compromised Quality: If not done carefully, renovations might compromise the integrity of the existing structure or design, affecting long-term value.
  5. Noise and Disruption: Renovations can be noisy and disruptive to your daily life, making living in the home during the process challenging.
  6. Resale Value Concerns: Over-customizing to the point that you cannot recover the cost.
  7. Health and Safety: During renovations, there might be health risks from dust, fumes, and other construction-related hazards.

To mitigate these risks, it’s essential to thoroughly plan, budget for contingencies, research contractors, and communicate effectively with your renovation team. Prioritize transparency and flexibility to manage unexpected challenges that might arise during the remodeling process.

Pros and Cons of Renovation vs. New Construction

new home vs renovate pros

There are pros and cons to renovating and building a new home. We might be slightly biased, but if you build with a good quality builder, it can be the best decision you can make. 

Whether it is cheaper to renovate or build new is a tricky question. There are so many factors that can significantly impact the cost of a renovation. Generally, the labor cost is higher for renovation than for a new build. This can sometimes be offset if you purchase the existing home at a lower price. You also run a greater risk of unexpected costs during a renovation. This is because even the best renovator can’t always predict what is happening inside existing structures. If things were not done correctly when the home was built or things had previously been remodeled, sometimes hidden issues need addressing. A renovation can be worth the money if you have a great location and a contractor who can help you make wise decisions. 

Building a new home offers several advantages over buying and renovating an existing one:

  1. Customization: You have the freedom to design the layout, choose finishes, and incorporate features that suit your preferences and lifestyle.
  2. Modern Amenities: New homes often come with the latest technology, energy-efficient appliances, and modern designs that might be lacking in older homes.
  3. Warranty: New constructions typically warrant materials and systems, providing peace of mind against immediate repair costs.
  4. Energy Efficiency: New homes are built with better insulation and energy-efficient systems, which can lead to lower utility bills and reduced environmental impact.
  5. Maintenance: With everything new, there’s less likelihood of immediate maintenance issues compared to an older home where you might need to address wear and tear.
  6. Location Flexibility: When building, you have more flexibility in choosing the location of your home rather than being limited to existing properties in specific areas.
  7. Resale Value: New homes might appreciate more quickly in value, as they start with the latest amenities and designs that appeal to contemporary buyers.

What makes a home energy efficient?

What makes a home energy efficient

A home is considered energy-efficient when designed and built to minimize energy consumption while maximizing comfort and reducing environmental impact. Several factors contribute to making a home energy efficient: 

  1. Insulation: Proper insulation throughout the home, including walls, roof, and floors, helps maintain a consistent indoor temperature by minimizing heat transfer between the interior and exterior. This reduces the need for heating and cooling, resulting in lower energy consumption. 
  2. Energy-Efficient Windows and Doors: Installing energy-efficient windows and doors with double or triple glazing, low-emissivity coatings, and weatherstripping prevents heat loss during winters and heat gain during summers. It reduces the reliance on artificial heating and cooling systems. 
  3. Efficient Heating, Ventilation, and Air Conditioning (HVAC) Systems: Selecting energy-efficient HVAC systems, such as high-efficiency furnaces, heat pumps, and air conditioners, can significantly reduce energy consumption. Regular maintenance and proper sizing of HVAC systems are also essential for optimal efficiency. 
  4. Energy-Efficient Lighting: We install LED lights and or light bulbs in all fixtures in our new homes. Utilizing natural light through well-placed windows, skylights, and light tubes can also minimize the need for artificial lighting during the day. 
  5. Energy-Efficient Appliances and Electronics: Choosing energy-efficient appliances, such as refrigerators, washing machines, dishwashers, and televisions, can result in substantial energy savings over time. Look for appliances with ENERGY STAR ratings, as they meet specific energy efficiency guidelines. 
  6. Water Efficiency: Efficient plumbing fixtures, such as low-flow toilets, faucets, and showerheads, can minimize water consumption.  
  7. Smart Home Technology: Utilizing smart thermostats, occupancy sensors, programmable timers, and energy monitoring systems allows homeowners to have better control over energy usage. These technologies can optimize energy consumption based on occupancy patterns and user preferences. 

Alden Homes uses a third-party Inspector for insulation, sealing, and energy audits to help identify areas of energy loss or inefficiency. Addressing issues like air leaks, ductwork problems, and inefficient insulation ensures the home operates at its maximum energy efficiency potential. 

Remember, energy efficiency is a holistic approach that involves multiple factors working together. Implementing these measures can reduce energy consumption and environmental impact and lead to long-term cost savings for homeowners. That is why Alden Homes builds energy star rated homes