To build, or to renovate? That is the question.

Renovate or start from scratch? Here are a couple of factors to consider:

Get an estimate - Before you commit to a renovation, get an estimate so you have a sense of costs. Do the same thing for pricing on building a new home.

Find a good contractor - Make sure you find a contractor who knows the demolishing and renovation costs so they can accurately predict to you how much the trades will charge for labour and materials. This applies to a new build and to the renovation.

Incentives - Rebates are offered by the government for home renovations, and can really benefit small scale-upgrades.

Eco-friendliness - Think green, there's nothing greener than working with what you already have. Doing a renovation to upgrade your home using sensible materials is almost always a better environmental option, than demolishing your existing home and sending it to the landfill.