As the COVID-19 pandemic rages on for a second year, Australians seem to be unfazed when it comes to purchasing new properties. Even shabby and dilapidated homes are selling for millions as noted in a report from Reuters, with the intention that buyers will do a knockdown rebuild. Location has played a major part in having buyers decide as the pandemic has triggered lockdowns since last year. Australians are looking for properties with bigger lots in suburban areas instead of keeping themselves in tighter spaces in Sydney’s CBD. These areas include Sydney’s northwest and southeast suburbs, as well as the Northern Beaches.
Amid restrictions, construction projects have a go signal from government in line with health protocols. A popular option among property buyers when doing a knockdown rebuild are project homes where home builders offer templated home designs similar to “pret-a-porter” fashion. In other countries, this applies to government housing projects. Home builders however offer more range and options for house designsdepending on lot size and configurations.
With the Australian housing boom on a roll, there is an increasing demand for property regardless of the house condition. As the name phrase suggests, a knockdown rebuildis a very viable option for buyers to actually knock down the house and just rebuild from bottom up. This strategy actually costs less than renovation work but require several steps including site assessment, demolition permits and service disconnections among others.
Before deciding to demolish an existing home, it is important to assess the state of your property. Homes that are not heavily degraded may just need some repairs but if the home assessment results to major issues, then a demolition may be more fitting. Only then a new home can be built in the same property. It may take six months to a year to do a knockdown rebuild.
There are a lot of desirable areas in Sydney’s suburbs that can serve as new spaces for families, couples, and even individuals. As we face a future that is driven by work-from-home set ups, virtual meetings, and physical distancing, the benefits of moving to a spacious home now outweighs the lifestyle of the past where people lived in tiny spaces in the city as they cohabitate in a shared economy. This is what’s driving the housing boom in Australia. Finding the right place is the only thing that matters because a knockdown rebuildcan easily be done even if a house is no longer habitable and safe.