5 Benefits of Building on Your Existing Lot

Choosing to rebuild your home is a huge decision. There are many viable reasons to rebuild, and the advantages are different for everyone.

Perhaps you own a fixer-upper that’s more of a fixer than an upper. Maybe you’re looking for more square footage but don’t want to uproot your family and move from your existing lot.

Whatever the case may be, there are many benefits to tearing down your existing home and rebuilding a pre-fab home.

1. You’re Ready for Something New

If you’re contemplating a rebuild on your existing lot, chances are your home is less than ideal for your current living situation.

Good candidates for a teardown and rebuild are homes that are structurally unsound, not in sync with the other buildings in the neighbourhood (either in size or style) or homes that are undervalued compared to the homes in the neighbourhood. Many homes have outdated plumbing and electrical systems, or homeowners are simply ready to move on to something new.

2. Increase Equity

How can you benefit from increased home equity? Essentially, home equity is the market value of the unencumbered interest on the property.  Therefore, home equity increases as loans are paid off.

There are many ways to create instant equity when it comes to your home. Rebuilding a new home on your lot can increase your equity right from the beginning. With a rebuild, you’ll also get a brand new, custom-designed home for much less money than buying a home that would potentially need expensive work to become your dream home.

3. Avoid Added Expenses

From a purely financial perspective, rebuilding is your best bet long-term. Selling your home involves dozens of costs (sometimes unforeseen) such as staging, real estate commissions, and Land Transfer Taxes, which can all be avoided if you choose to rebuild on your existing lot.

Each Canadian province offers a home warranty program that protects buyers for several years. Choosing to build a pre-fab home on your existing lot also means that you’ll be eligible for our extended warranty. We extend the 7-year structural Tarion Warranty for 3 additional years.

4. Build Your Dream Home on Your Dream Lot

Most homeowners who choose to build on an existing lot feel a certain attachment to the property. Perhaps the lot features a picturesque view, is particularly deep, or simply holds some sentimental value. These are all reasons to stay and create your perfect custom dream home.

Rebuilding on your existing lot means that you won’t have to uproot your family or pets and move to a whole new neighbourhood. Your kids can stay in their current schools. You can also rest assured that there will be none of the surprises that could potentially accompany a move.  You won’t have to deal with adapting to a new neighbourhood, new neighbours, or a different commute to work.

Everything you love about your location will remain the same. The only change is the home itself!

5. A Pre-Fab Home Will Last a Lifetime

Modern prefab homes are efficient, sturdy, and inexpensive, and come in a wide variety of floor plans. Building allows you to customize everything to ensure your dream home turns out just right.

We will be there from start to finish, as we offer both teardown and removal of existing homes. And with just 12-16 weeks for a full build, your dream home will be ready in no time!


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