P. Morrissey Contracting's Pros and Cons of Re-Building
MOUNT KISCO, N.Y., July 11, 2017 (Newswire.com) - The time has come where your family no longer fits in the house you purchased 10 years ago. Homes have a lifespan just like us — the average age of the housing stock in the United States has been increasing steadily over the past few decades and according to the recent data from HUD’s America Housing Survey, the median age of an owner-occupied home has increased from 23 years old in 1985 to 35 years old in 2011 with two out of five being more than 45 years old.
A lot has changed in 45 years! New building technology and design make a new or rebuilt home more functional, comfortable, efficient and trouble free for homeowners.
Older homes with no major upgrades will require spaces redesigned for modern lifestyles, including larger kitchens and baths as well as more open rooms. Windows, doors, siding, roofing, and insulation will eliminate comfort issues, leaky roofs and high energy bills.
Unlike the larger components listed above, the electrical, plumbing and heating and cooling systems have a much shorter lifespan ranging from 15 years to as long as 40 years depending on the initial quality of the product.
For new custom home construction, selection of the above components will be a major consideration and educated home builders will advise buyers on the best selections based on their budgets.
All-new products will have a higher return on the buyer's investment. A few good examples of this would be an energy efficient heating system that will burn much less fuel or a brick exterior that will not require painting or replacement for many decades. The initial investment is greater however than the savings over a lifetime will offset the initial cost. Quite often, when the design is complete, if the project or new home is over budget, the builder and architect will "value engineer" the homeowners' project to achieve their design and budget goals. One might substitute a cement board siding for a wood siding product to reach both initial out-of-pocket cost goals and get a product that has a longer lifespan for maximum return on that building component.
As the housing stock in the Tri-State region gets older, many potential buyers want new homes with the most modern technology available. A new home buyer's repair costs will be considerably less for the first 20-30 years and they will be able to enjoy the comforts of a modern home. In the Tri-State area, there is more competition for building lots; therefore, raw land and site improvements, and meeting the latest regulations, will cost considerably more.
In many old, well-located neighborhoods, whole home rebuilding is very common — the home will be stripped of all or most finishes, systems, and components and rebuilt with the latest technology, floor plans often with new additions as well. When complete, they have the old house charm in new construction.
Where P. Morrissey Contracting is located in Westchester County, NY, another solution is the tear down. These are usually homes built between 1940-1980 when it was not practical to rebuild. These older homes in desirable neighborhoods will be razed and an entirely new home will replace the existing.
The advantage of the tear down will be realized through re-use of existing utilities, drainage and nature landscaping. With either new construction, tear down or rebuilding you will end up in a comfortable, efficient home that will fit your needs for years to come with little spent on repairs and energy costs.
Source: P. Morrissey Contracting, Inc.
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