Opting for a Teardown?

The teardown phenomenon that began almost a decade ago is now a common site in the suburbs and in urban areas. According to the National Association of Home Builders/Well Fargo Housing Market Index, nearly 32,000 single-family homes built in 2014 were teardowns. But why pay a premium to buy a house only to tear it down? Location, location, location. It’s still the watchword when it comes to searching for a home in highly sought out communities like those on the North Shore. Yet many of the older houses there don’t meet today’s standards for a modern family or the home they need and want. But the considerations for demolishing and then building something new are really the same. Before you purchase a home, demolish the structure, and then build a custom home, it’s essential to consider several factors prior to making what could be your biggest investment. Here are some expert tips from Lisa Pickell, chief operating officer at Northfield-based Orren Pickell Building Group:

· Think about the financial feasibility of demolition. Ask yourself, “Is the property worth more as something we can improve or as a vacant parcel of land? This may, in part, depend upon what it will cost to bring the new home up to today’s standards; i.e., newly re-modeled kitchen and baths, number of baths, functional floor plan, etc.

· Consider the functional feasibility of demolition. Local building codes may preclude homebuyers from building structures that do not adhere to certain rules and regulations. “Homeowners need to know what their local government will allow them to build in place of the structure they are proposing to demolish,” says Pickell. “It’s important to understand, for instance, what size, height, and aesthetics are permitted.”

· Get help from professionals. Part of researching the feasibility of a teardown is finding answers from professionals who have a deep understanding of and broad experience with this particular housing option. “Happily, we are seeing a healthy recovery in housing,” notes Pickell. “As a result, we’re helping more and more home buyers who want to live in established neighborhoods but need homes that can accommodate their modern-day lifestyles.” Pickell suggests that home buyers considering a teardown ask an experienced architect or builder to help calculate existing zoning restrictions and what they mean in terms of the type of structure that can be built.

· Research demolition costs. People tend to underestimate the amount of money required to tear a structure down. “The cost of demolition varies,” says Pickell. “The price depends on factors like the size of the structure, the type of foundation—brick versus concrete, slab versus a full basement—; the building materials like frame versus brick or stone; whether hazardous materials like asbestos or buried oil tanks are present; demo permit fees or taxes imposed by the municipality; the distance to a dump site; the cost to protect nearby properties—the list goes on and on.”

Even for homebuyers who want to remove a deteriorating structure and build something energy-efficient and aesthetically pleasing—in a style that will enhance a neighborhood—the steps needed to take before breaking ground can be intimidating and somewhat challenging. Pickell suggests that homebuyers proceed slowly and with caution but with an eye toward creating the home of their dreams. “Many of the beautiful, older homes that have given our area so much character are functionally obsolete,” she says. “Building something new can give homebuyers higher ceilings, kitchens that are made for larger groups of families and friends, and other features that can accommodate today’s dynamic lifestyles.”

About Orren Pickell Building Group:
With four decades of homebuilding experience, Orren Pickell continues to lead the industry in design, innovation and unparalleled customer service. Orren Pickell Building Group’s custom homes, extraordinary remodels and unrivaled reputation are echoed by the hundreds of awards they have received. Capabilities extend to all facets of design and building, including Architectural Design, Custom Home Building, Remodeling, Vacation Homes, Home Maintenance, and CabinetWerks. For more information, please call 847-572-5200 or visit: Orren Pickell Building Group.