Is It Cheaper to Build a New House or Remodel in Hattiesburg, MS?

Your home is one of your most valuable investments. It’s also your sanctuary. So, when your current space no longer meets your needs, it’s your cue to explore your options. Maybe your family has grown. Maybe your home now feels dated in relation to others around it. You’ll need to make a decision soon.

Is it cheaper to build a new house or remodel in this scenario? That’s the first question on most people’s lips in this situation. The seasoned professionals at Jackson Brothers Construction & Roofing, the premier contractors in Hattiesburg, MS, discuss the answers and more in this post.

Comparing the Cost of Building a New House vs. Remodeling in Hattiesburg, MS

Most people trying to decide between building a new house and renovating their existing home want to make the most financial sense. Which one is more cost-effective?

The Cost of Building a New House

Building a new house on a fresh plot of land is generally costlier. You get a clean slate to build the home of your dreams, but you’ll have to take care of everything, including the actual construction and exterior finishing, the installation of utilities, and more.

The scope of work for most new constructions is highly complex. The project requires more labor and a lot more materials. Therefore, it generally costs more.

The Cost of Remodeling Your Existing Property

Most remodels aim to upgrade the existing building to meet the owner’s current needs. The upgrades are usually superficial, involving changes to the bathrooms, kitchen, living areas, and more. Additionally, you’ll need to upgrade the building to meet modern health and safety codes.

When considering, "Is it cheaper to build a new house or remodel?" remember that large sections of the existing structure will remain untouched when remodeling. Neither will you need to worry about installing new utilities. Overall, this translates into lower costs.

Exceptions abound, though, especially if your home is old. It costs more to remodel older buildings. It’s also likely that the construction crew will encounter a nasty surprise or two that will send your initial budget through the roof and make the project last longer than the original timeline.

This is especially true if they encounter severe water damage, asbestos, etc.

So, is it cheaper to build a new house or remodel? The rule of thumb is that remodels are always cheaper unless you’re remodeling an old property. Keep in mind that remodeling here doesn’t include home additions.

Remodeling costs can significantly increase if you intend to add more living areas.

The Pros of Building a New House

The top advantages of building a new house include the following:

• You can avoid the legal costs associated with buying an existing home.
• You can avoid the hassle of bidding wars for in-demand properties.
• You have total control over your new house’s look, style, and specification without compromising.
• You can avoid repairs for a long time because most parts of the property are new.
• It’s easier to embrace smart living with a new home.

The Cons of Building a New House

The main disadvantages of building a new house include the following:

• It’s not always practical to build a house in desirable locations.
• Landscaping costs can increase the overall cost of the project significantly.
• New construction projects are not the most eco-friendly.

The Pros of Remodeling Your Home

The main benefits of remodeling your home include the following:

• You can remodel without relocating elsewhere.
• Common remodeling projects such as bathroom and kitchen renovations and basement refinishing can significantly increase your home’s resale value.
• Remodeling can improve your home’s energy efficiency.
• Remodeling brings older homes to the modern era.

The Cons of Remodeling Your Home

Some common downsides to remodeling your home are as follows:

• There’s always a risk of encountering nasty surprises that could delay your building prices and timelines.
• Securing a loan for the remodel can be challenging if you haven’t lived in the property long enough.
• You may not recoup all your investment into a home renovation.
• Staying too close to the house during the project may not be practical.

Get Expert Guidance From Jackson Brothers Construction & Roofing

If you’re still asking, “Is it cheaper to build a new house or remodel?” it’s best to consult professional contractors for more personalized guidance. Jackson Brothers Construction & Roofing offers this service to prospective and existing property owners in Hattiesburg, MS.

The team can also recommend custom home design ideas in line with your vision.

Are you ready to get started? Call now to schedule a consultation.