In many inner-city suburbs like Hawthorne and Morningside, adventurous property owners are knocking down their ageing homes and building new ones in their place.
With land in desirable suburbs so hard to come by, the knock-down and rebuild trend has taken off across Australia. Some Sydney suburbs are seeing 95-100 per cent of their new home construction on existing plots of land, according to a 2013 study by Ilan Wiesel, Robert Freestone and Bill Randolph from the University of New South Wales.
This new concept has become so popular that many home buyers are now looking for properties to knock down and rebuild. For many buyers, demolishing a dilapidated property is more desirable than embarking on a renovation project.
With rebuild costs often comparable to the cost of renovation, building your dream home can be easier and more satisfying than trying to drag an older property into the 21st century. A new home will often be safer, quieter and more energy efficient than a renovation.
If you are looking for a property in Hawthorne or Morningside which could be turned into your dream home, make sure you consult with an established real estate agent. They will have the experience to make sure you get the right property for your needs.
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