How To Know When It’s Time To Rebuild
With 29 percent of housing stock in the U.S. 40 to 70 years old, more and more people are realizing it may be time to rebuild.
(NAPSI)—Having a new home at an old address can be a better idea than many people realize. You just have to decide how many and what kind of changes may be best for your home and family.
A first decision is whether to remodel your home or to rebuild on the old site. There are a few things to consider that can help you decide:
• First, is the old house worth saving or will you be investing tens or even hundreds of thousands of dollars you’ll never be able to recoup? According to Harvard’s Joint Center for Housing Studies, Americans spend $125 million a year on home renovation projects.
• How much do you have to invest? If it’s a major remodel, it’s important to look at the housing market. Is it strong? Are there few houses on the market? If so, your home may sell quickly and make up the initial investment easily. If the housing market is weak, however, your home may linger on the market for months, even years, and ultimately sell at a loss.
• Next, consider the condition of your home. If it has good wiring and heating and a sound foundation and tight building envelope, these factors strongly favor a remodel. If there is extensive mold, dry rot, asbestos, pest, water or other damage, tearing down and rebuilding may be a better investment.
• Also, how green is your residence or home? Older homes tend to be inefficient. They may have little to no insulation, single-pane leaking windows, old inefficient appliances and poor ventilation. Modern materials allow for much more energy-efficient heating and cooling. In fact, owners of older homes spend $750 million more than owners of new homes on repairs and upkeep. If it’s time to rebuild, you may consider building a green home. A new home can have modern multipane windows that cut down on heating bills thanks to their high level of efficiency. In addition, radiant floor heating is a much more efficient and green option than forced-air heat, which is standard in older homes.
Rebuilding allows for easy integration of green features. That can lead to the house being certified as a green home through such national programs as Leadership in Energy & Environmental Design (LEED).
This program looks at water efficiency, materials and resources, indoor environmental quality, energy and atmosphere and sustainable sites. Since green homes use building materials that strive to be toxin-free, there will be fewer issues with internal environmental air quality, including mold and mildew, which can be a problem in older homes with ventilation issues.
“Not only is a green-built home healthier and more efficient,” explains Blu Homes CEO Bill Haney, “it usually means monthly bills will be significantly smaller.” On average, the annual utility costs for a home built 50 years ago at 2,500 square feet is $5,176. Compare that with a new green home, whose operation costs average $3,383-and that’s before add-ons like solar. On average, new homes save 3,449 KWH per year as compared to old homes.
• Finally, there’s also the cost of maintenance to consider when it comes to an older home. On average, a 50-year-old home-and 29 percent of U.S. homes are 40 to 70 years old—of 2,500 square feet costs $19,000 in maintenance per year, whereas newly built homes require no maintenance and even offer extended warranties.
Once the decision to rebuild is made, the next question is often where to find a builder. For many, the answer is Blu Homes, because of its quality design, fixed price, green features and quick build time. All the company’s homes come out of the factory LEED Silver certifiable and with additions such as solar, can be upgraded to LEED Gold, Platinum or Net Zero status.
You can find more facts and ideas at www.bluhomes.com/rebuild and 1-888-228-8081.