03-24-2009, 04:37 AM
I am wondering if in this current economic climate if it's cheaper to build a new house from scratch or renovate an older one.
I have heard if you go as far as replacing part of the existing roof, changing the location of internal walls, and putting in all new windows it would be more expensive than starting from scratch. But if you have the foundation and outer walls in place already doesn't that save a lot of money, not to mention grading, landscaping, draughting, permits, etc?
On a new build, is there a rule of thumb in $/sq. ft which does take into account everything from clearing the lot to building a house?