Are you an investor seeking to seize the rising popularity of Wollongong? Perhaps you're looking to enhance the value of your existing home or struggling to find your ideal vacation property on the South Coast? Consider a knock down rebuild in Wollongong as a potential solution to your investment goals and aspirations.
Median house prices on the South Coast have soared over the past 5 years as home buyers escape the big city for a more laidback lifestyle. Investors have also been lured to the area due to relative affordability of Wollongong real estate. And real estate here is an investment that's guaranteed to pay off, with the city's population forecast to increase by nearly 15% over the next 15 years.
If your current house is in need of major repairs, a major renovation may not be the most cost-effective solution. Building a new home can often be less expensive and it allows you to customise your home to better suit your needs.
Knockdown rebuilds are becoming increasingly popular, especially in Wollongong where older suburbs are undergoing renewal thanks to an influx of interest from far and wide.
If you're looking at Wollongong as a place to raise your family, build a dream weekend getaway home or build your wealth with a knockdown rebuild investment home, you really can't go wrong as the local real estate market continues to boom.
Vacant blocks of land to build a new home can be hard to come by, but Wollongong's established suburbs offer larger blocks with tight-knit communities and are close to amenities.
A new home will also save you on costly maintenance in the long run and can be built to be more energy efficient, helping you to slash your future energy costs.
Best of all, you get to stay in a location you love.
If you're looking to buy in the area and aren't knocking down your existing home, it's important to try and find the right home to minimise site costs and increase the land value so you end up with your dream home. The old adage, 'find the worst home in the best street' is one option, as is investing in an up-and-coming suburb.
Many of Wollongong's established suburbs are currently undergoing gentrification as more people look to Wollongong as a lifestyle destination. So although homes may be harder to find than they once were, there are still many places that are often overlooked where it's possible to build your dream home.
During your search, it may pay to look to lesser-known suburbs for your ideal knock down rebuild home. You'll likely be able to score a bigger block of land for a growing family and be closer to the beach and other amenities.
While a knockdown rebuild on your existing home will save you from having to buy land and will mean you won't have to pay stamp duty, you will need to carefully budget for other aspects of the process as well your new home.
Council requirements and planning overlays can affect a knockdown rebuild. For example, if your home is a heritage building, you may not be permitted to demolish it or your new home may have to stick to certain design principles.
Trees and natural areas can also have heritage value, so contacting Wollongong City Council should be the first step in a knockdown rebuild. The process for council approval will vary depending on if yours is a complying development or not.
While it's not essential to use a local designer or architect for your knockdown rebuild, there are many advantages including the ease at which they will be able to conduct a site inspection.
A local architect will also have better knowledge of the local terrain and planning regulations and is more likely to be able to give you recommendations about tradespeople.
Don't just choose the first builder you contact. Speak with other builders, too, and focus your search on Wollongong knock down rebuild specialists with plenty of experience. You're more than likely to find that in order to make the building process a smooth one, you're better off choosing a local construction company over out-of-town rebuild specialists who have no connection to the community and few local contacts.
Once your old home is demolished the building process can begin relatively quickly, so it's a good idea to plan where you will be staying when visiting Wollongong for a site inspection during your knockdown and rebuild.
If it's the home you're currently living in that you are planning on demolishing, you'll obviously need to rent a new home. Otherwise, there are plenty of great options for staying in Wollongong while you wait for your new home to be finished.
Contact A Class Building & Construction for your knock down rebuild in the Illawarra Region
Working with Wollongong knock down rebuild specialists such as A Class Building and Construction can make the building journey stress-free and have you living in a luxurious home designed just for you.
With more than 45 years of building experience in the Illawarra and Wollongong area, they bring a high quality of work and professionalism to each project. To find out how they can help you bring your dream to life, contact A Class Building and Construction.