There was a time when homes that were constructed hundreds of years ago remained intact, acting as historic staples of their communities and even housing people for further decades. Those times seem to be dwindling, however, as older homes across the U.S. are being torn down and built back up with newer, modernized features.
According to Naples Daily News, Florida Lifestyle Homes has launched a new program called “tear down and build” in order to expand services previously offered to homebuyers.
“This is an activity that we’ve often done in the past for individuals,” said Bill Ennen, president of Florida Lifestyle Homes. “Now we are seeing a growing demand for new homes in older, established neighborhoods. That leads us to the next step, which is not only offering that option to custom buyers but also creating new inventory estate homes by taking down out-of-date existing homes.”
One of the main reasons homes across the country are being taken down and renovated is to keep up with the changing times. Homebuyers are much more interested in modern homes that utilize high tech innovations. In fact, roughly 48% of buyers interested in purchasing new homes city “energy-efficiency” as their most desired feature.
In addition to upgrading these homes, another advantage is to identify unknown housing issues after the remodeling project is finished. Some dangerous problems can be lurking inside older homes, but after tearing them down and building them back up, the construction crews can fix any issue that was previously occurring.
“Remodeling too often simply reveals existing problems,” Ennen added. “A big issue is ceiling height with expensive remedies for a dated floor plan, and the cost begins to far exceed the amount budgeted. In the end, the owner still doesn’t have the open floor plan and all of the amenities he would expect in a new home. Tearing down the out-of-date house and starting over is a better solution.”
Whether it’s a historic property in Florida or a new home across the country, every buyer and homeowner needs to be aware of certain financial aspects of property ownership. It’s important to keep in mind, for instance, that if a homeowners’ entire estate is valued at more than $5.43 million (or $10.86 for a married couple), they will be exempt from federal estate taxes. But that’s quite a rare circumstance and the average American will most likely have to pay federal estate taxes.
Along with energy-efficient homes, younger buyers are concerned with all kinds of property aspects that aren’t exactly conventional:
- Updated kitchens and baths
- Connected home office
- Low maintenance needs
- Smart homes
Randy Frederick, the sales and marketing professional for Florida Lifestyle Homes, added that he wants to encourage new buyers to consider the option to tear down and build new for themselves.
“To tear down an out-of-date house and build a new home in the location of choice opens an entire vista of possibilities,” Frederick added.