New build versus Tear-down
I am looking at bidding on a vacation property that needs extensive renovation. I am trying to decide if it will be cheaper to tear down or to renovate. My end goal is a sound, relatively efficient house. I want something simple and humble in a farmhouse vernacular. Eg, I want an unfitted kitchen an linoleum floors. No fancy finishes, but no junk.
Here are the considerations that I think favor a tear-down:
1. All of the windows need to be replaced (and not just within pop-in replacements). The new windows have to be Zone3 for hurricane risk.
2. Most of the interior walls are homasote, which has to be removed to add insulation and replaced with sheetrock.
3. The kitchen and bathrooms I would want to be gutted.
4. A portion of an old addition is in bad repair and will have to be torn down in any event. The basement footprint of this addition is 14x24, but the only structure right now is a walk-out basement, and a bathroom and deck on the first floor. We would remove this structure and rebuild in the 14x24 area, a full three stories (the first story being the walk-out portion of the basement)
5. The cedar shake is painted and I prefer it to be natural. So I would want to reside the whole thing
6. The home has a gambrel roof. I would prefer to remove the roof, build up the walls, and have a gable roof.
7. I would rather move the stairs but could live with them where they are.
8. Given the scope of the renovations we will want to do, I assume we will need to bring every facet of the existing structure up to code. Seeing as how it was built in the 1920s, I think that is a de facto total rebuild.
Wow, sounds like a great property, huh?
Here are the factors in favor of renovating:
1. The buildable footprint is three stories, 44x30. I might be able to expand that but it would be a PITA to get approvals. If I were to teardown, I would probably keep the same footprint and location.
2. The building is a rectangle and I want a rectangle
3. It costs 12cents per pound just to dispose of demo debris
4. The permitting process will take longer
5 The floors on the first and second floor are wood and in nice condition. I would reuse them. If i have to patch them as we move walls, etc, I don't see a huge issue because Id like them painted anyway.
6. I dont like being "wasteful" if i can avoid it.
7. I can envision a totally acceptable plan where the old house gets new and more windows, new sheetrock, siding and roof, a few internal walls moved, and then we put on a new addition.
Thoughts? Other things to consider?
Thanks in advance.