When people think of selling their land, they often assume that any present brick and mortar increases the market value of their property. However, this is not always the case. Depending on the intentions of your buyer, the state of your home and its asbestos status, tearing it down may, in fact, boost interest and increase your selling price.
It is important to note, nevertheless, that a house demolition is a significant investment. Therefore, you need to be confident in the ways the process will be advantageous to you as you market your property. Here is everything you will want to consider.
Remodeling A Home From The Ground Up Can Be More Expensive Than Building From Scratch
A common misconception for homeowners is that the presence of a standing structure makes any type of construction easier. However, this is not always the case. While older buildings may offer an aged flair to their surroundings, they were also often built with much less energy-efficient materials than current construction standards and styles require. Depending on the quality of construction work first carried out, they may also have a crumbling foundation.
If you live in an area that has experienced severe earthquakes, you will want to have your foundations inspected. It isn't infrequent for homeowners to realise that significant structural damage resulted from past earth-movements, without having experienced any trouble with the home's visible structure. However, a licensed construction contractor will be able to tell whether your foundations are in adherence with earthquake law and advise on the best following course of action.
An Empty Space Is More Appealing Than A Crumbling Building
Sometimes, the land upon which your home stands is considerably more valuable than the erected structure. If your neighbourhood is now considered well-situated (i.e. due to urbanisation changes), your prospective buyers will likely be more interested in the land than anything else. In such a case, "empty land" will best depict your property's construction potential.
Demolition is also a plus to your asbestos removal because it provides prospective buyers extra peace of mind. You will need an inspection to be certain of whether your home has asbestos, which is relatively common in Australian homes built before the 80s. Once an asbestos removal has been conducted, a house demolition allows you to give your property a fresh start.
House demolitions can add value to your property by allowing your prospective buyer to picture any desired construction process on your land. It also saves them the hassle of tearing down the structure themselves. If your land is situated in an increasingly busy area, your prospective buyer may also want to build flats or a commercial building on your property. In such a scenario, having pulled the entire house down already will be a definite plus.
To learn more, reach out to a local demolition service.