Just from the title, you should understand the point I’m trying to make when it comes to homes and real estate in general. In the latest article we discussed bringing up the value of a house by doing some work to it and then just flipping it for something else. In this article, I will talk about the dilemma we put ourselves in, when it comes to homes and residencies in general. That is deciding to either try and re-construct a messy home with a lot of damage done to it (like mold, water damage, holes in the wall etc) or destroying it and building it from scratch.
Basically let’s be honest with ourselves. The only dilemma is the the financial one: you aren’t sure if just renovating the place will be a good/wise decision versus demolishing it and building it up from scratch. Basically your main fear is that the new concrete and asbestos won’t stick to the building in the long run. Well turns out that according to the partner of a residential demolition company, demolishing something (like a residency) and building it up from scratch can turn out to be cheaper in the long run. The argument according to people like him, is that the kind of repairs you will need to do a renovated building within the next 10 years, will more than cover the expenses of demolition. Also, according to this “expert” demolition costs have gone down significantly compared to twenty years ago and it is actually more affordable nowadays.