Knock-down/rebuild

Knock-down Rebuild vs Selling

WITH THE PROPERTY HOUSING MARKET ON THE VERGE OF A BOOM, HOUSE PRICES ARE SET TO RISE UP TO 16 PER CENT, ACCORDING TO CBA ECONOMISTS. NORTHERN BEACHES HOME BUILDERS ARE EXCITEDLY SHARING THAT IT’S THE PERFECT TIME TO KNOCK-DOWN AND REBUILD IN THE REGION.

G.J. Gardner Homes Sydney North owners Horst and Melissa Lueckl spoke with Beaches COVERED. to explain that all the right ingredients for a smart home investment exist in the current housing market.

“With the limited land availability in our area, low interest rates, an ever improving economy, government incentives and the housing market booming, we’ve never seen a better time for homeowners to knock-down and rebuild their dream home in Sydney’s Northern Beaches.

“We’ve read that property prices are rising at the fastest rate in 17 years, according to Core Logic data, and in Sydney, house prices have skyrocketed 2.5% higher in February 2021 in a surge not seen since 2003. There are many contributing factors with great conditions, lots of cashed-up expats returning home and a great fear of missing out causing the prices to surge.” said Horst Lueckl. For those living in the region, it may well be better to ‘stay put’ in the street that you know and love and make your house the home you have always wanted.

“With the option of selling and buying, you will sell really well at the moment; however, the ‘buy’ is a different story. You might well go backwards with such interest in the limited stock that is for sale,” Horst explained.

For anyone looking to enter this housing market, it’s the time to do it because prices are only going to go up, according to the Commonwealth bank economists. They are predicting rises of 8% in 2021 and up to 16% over the next two years.

“Those who make the decision to move to or rebuild on the Northern Beaches will benefi t from that growth in home value and can either sell at the top of the market or use their equity for investments down the track. The biggest increases can often be seen in a knock-down rebuild situation with a beautiful new home in an excellent location,” shared Horst.

Horst and Melissa know fi rst-hand how much a knock-down rebuild project can increase in value. Their own showcase home in Freshwater, a knock-down rebuild won the Daily Telegraph Home Magazine People’s Choice Award in 2020. Words: LIZZIE HENEBERY

Photos: G.J. GARDNER HOMES

“We purchased a block of land in 2018 in a ‘Freshy’ street. Since then we’ve knocked down the old 1940s one bedroom shack and built a beautiful home, making great use of the block size and orientation. We estimate that home has now increased in value by 50% from it’s original purchase price in September 2018, with the new home on it. Had we left the original shack there, the value would only have grown by 20%,” explained Horst.

A knock-down rebuild involves demolishing an existing, usually older property on an ideal piece of land and building a new home from the ground up, rather than renovating the existing structure.

“There are important considerations for both renovating and rebuilding, as well as moving. There’s no one-size-fi ts-all for every family. That’s why we’re happy to sit down with homeowners to explore the options, the ins and outs, so they can confi dently make the right decision for their situation.

“Knocking down and rebuilding a home can allow the homeowner to have complete control over the project while benefi ting from a more advanced, energy effi cient and modern design. It can also be a more cost-effective option compared to a major renovation. In some circumstances, renovating can often be riddled with unforeseen delays and variations,” shared Horst.

The team at G.J. Gardner Homes are happy to talk with anyone keen on a knock-down rebuild project in Sydney’s north. They can provide extensive details on the process, what to consider and how to make the most of your block.

Connect with the G.J. Gardner Homes Sydney North team. Visit their design studio at 2/ 28-30 Orchard Rd, Brookvale or call (02) 9939 3339. •

G.J. GARDNER  SYDNEY NORTH // 2/2830 ORCHARD RD, BROOKVALE 2100 // (02) 9939 3339 //www.gjgardner.com.au