Is It Cheaper to Remodel or Start From Scratch?
One of the first factors to consider is if it’s cheaper to remodel an existing home or simply build a new house. In most cases, it typically costs less to remodel a home over starting new construction.
This can depend on the area your located and the existing house’s condition, though. If a house is a particularly poor state that still doesn’t mean you need to demolish and start over. Have the place inspected and learn what needs to be done to bring the house up to code.
If you realize this is going to go over your budget immensely, shop around for other projects before purchasing and demolishing the house for new construction. Save money, stick with the remodel.