When to build new, remodel or renovate

By Hawaii Renovation Posted in: RemodelRenovating

There are many reasons why homeowners decide to change or upgrade their homes. Perhaps the home is not large enough for a growing family, or more than one generation of family members will now be living under one roof. Maybe the kitchen is outdated, or the bathroom does not have equipment commonly used by older adults. Whatever the reason, the decision to build a new home or renovate an existing one is not simple. In some cases, it is less costly and faster to build new than to renovate, and vice versa. That’s why many of Hawaii’s homeowners have turned to Graham Builders to help guide them through this confusing process, in order to determine the best course of action for their families.

Budgeting

Naturally, an important factor to consider is the cost. It’s very important to set a budget, as this will help in the decision making. If you need to borrow money for your home project, think in terms of your monthly payments — what you’re comfortable with rather than overall costs. It’s important to speak to a financial expert before you begin designing. Financing a home project is more involved than most homeowners think. Graham Builders has partnered with Graham Mortgage Inc. to talk about the importance of setting a budget, pooling together family resources, and financing options at its monthly seminar.

Age of home/your age

Another major factor to think about is the age of your existing home. Many homes in Hawaii are 50 years or older, and are not designed to meet the needs of today’s families or elderly. Hawaii has the most multi-generational families living under one roof, as well as the fastest-growing population of those 85 years and older. Even if you think your home will last another 15-20 years, add that to your age and ask yourself, “In 15 to 20 years, will I have the money and/or the energy to take on a major construction project?”

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Family needs

The needs of the family should also be taken into consideration. Can the evolving needs of your family be met with a renovation? If you have more detailed needs, then perhaps building a home to your specifications might be a better option.

“What we have learned from working with hundreds of families in Hawaii is that each individual case is different,” said Evan Fujimoto, president of Graham Builders. “We sit down with homeowners at the very beginning to understand what their ultimate goal is, so that we can provide them with all the information necessary to help them make a decision that is best for their families.”

These are just a few things that homeowners must consider before making the final decision to either renovate, remodel or build new. If you are a homeowner currently considering a home project, and would like more information to help you make an informed decision, attend Graham Builders’ upcoming seminar on Saturday, Feb. 22 at the Honolulu Country Club. Graham Builders’ Building Your Home for Life seminar is free, but reservations are required. To register, visit www.graham builders.com or call 593-2808.

With more than 20 years of experience, locally owned Graham Builders has guided hundreds of homeowners through the process of designing, building and renovating homes that will last them a lifetime. As Hawaii’s leading design+build firm, Graham Builders’ staff of dedicated architectural designers work diligently to create a family’s dream home, while using only the most skilled and experienced local trade partners. Graham Builders is the winner of the 2007 Better Business Bureau of Hawaii Torch Award for Ethics in small business, and owns the distinction of being the first builder ever to win this prestigious award.

GRAHAM BUILDERS
contact // 593-2808
web // www.grahambuilders.com