Builders & Renovations FAQs
How Much Does A Knockdown Rebuild Cost?
If you love your suburb but your home doesn’t suit your lifestyle or needs anymore, a knockdown rebuild might be the solution for you. Choosing to rebuild rather than undertake major renovations or move away allows you to create your perfect home exactly where you want to be.
But why would you choose to knockdown rebuild and how much does it cost?
Simple answer: you can make it yours.
Why Choose To Knockdown and Rebuild?
Land around Australia, especially in the Gold Coast, has become a hot commodity in recent years. Put simply, there’s not enough of it to go around. Choosing the knockdown and rebuild allows you to maximise the potential of your block and start fresh in a familiar place, without having to move away from great schools, communities or views.
Most of the time, knocking down and rebuilding in the same place is more cost-effective than conducting major renovations and can also help you save on stamp duty and agent fees.
How Much Does Demolition Cost?
Demolition is one of the major costs associated with knockdown rebuilds, and the total price varies around the $10,000 to $40,000 mark. Your demolition cost depends on several different factors, such as:
- How easy is it to access the existing structure?
- How much material needs to be removed?
- Are there any other structures in and around your existing home, like a granny flat?
- Are there any dangerous materials like asbestos or pest infestations that need to be removed?
Demolition Permits and Council Approvals
Before starting the demolition, it’s important to know that you may need to get a permit from the Gold Coast council. However, it depends on what type of building you are demolishing, where it’s located and what type of work you’re getting done. Things to consider are:
- Your property is in a local zoning area such as high-density residential areas, near rivers or a flood-prone area
- Your home has heritage status or is within a character area
- You are demolishing a building that contains asbestos or is near protected vegetation
- The property has structures larger than 10 m² on it
If you’re unsure of if you need a demolition or council permit, Symcorp’s expert team of builders is happy to help. Call us today on 1300 043 012 or fill out our online enquiry form.
The Cost of the Rebuild
The overall price of your knockdown rebuild is influenced by a number of factors, most of which fall into two main categories: the construction itself and the hidden associated costs.
Factors That Affect Construction Costs
- Location: While you already own the land, the specific location and the size of your block matter.
- Design and Size: The final price of your build is heavily linked to the total square meterage, the number of storeys and how complicated the architectural design is.
- Materials: Post-pandemic, the cost of standard building materials like timber, concrete and sand-based products has skyrocketed. There may also be delays in the supply chain, causing you to spend more money.
Hidden Costs To Look Out For When Considering a Knockdown Rebuild
Building your dream home on your perfect block is exciting, but like anything, a knockdown rebuild comes with some unexpected costs.
Temporary Accommodation: If you don’t have the luxury of staying with friends or family while your new home is being built, you’ll have to budget for rent.
Site Preparation: While the demolition cost is straightforward, preparing your block can raise some unforeseen costs, like asbestos removal.
Delayed Approvals: Delays in getting your permits approved by the council can be a major setback in the knockdown rebuild process, causing you to spend more on rent.
Landscaping: This is an often overlooked aspect of building your home. Everyone wants their home and garden to look beautiful, but unfortunately, that costs time and money and it can add up quickly.
Can I Get A Construction Loan for my Knockdown Rebuild?
The short answer is yes, you can! A construction loan is a type of home loan specifically designed for building and renovations. Instead of the bank giving you the entire loan amount upfront, the lender releases the funds in stages as the construction progresses. This is also known as progressive drawdown.
This helps to manage cashflow during the building process and makes sure that every phase of the build is complete before more money is released.
The money is released in 5-6 major stages, depending on your specific build and what bank you have decided to go with.
Ready To Build Your Dream Home?
Building your dream home is one of the most exciting things you can do. At Symcorp, we believe that it should be as stress-free as possible. Our experienced team specialise in custom knockdown rebuilds all over the Gold Coast.
Are you ready to start building and maximise the potential of your land? Call us today on 1300 043 012 or complete our online enquiry form and we’ll help navigate the whole process, from council approvals to the final fit-out.
