As a general rule, renovations are generally less expensive than building new ones. Poulos says that renovation is usually more affordable, in part because the process of obtaining permits can be cheaper and faster. New buildings are cheaper if it's just one of the two rooms, they're less disruptive since homeowners don't have to uproot their lives and add value to the existing property.
Is it cheaper to build or renovate?
As a general rule, renovations are generally less expensive than building new ones. Poulos says that renovation is usually more affordable, in part because the process of obtaining permits can be cheaper and faster.
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What is a substantial remodel?
Substantial remodeling, as used herein, is the renovation of any structure that, combined with any addition to the structure, affects a floor area that exceeds fifty percent of the existing floor area of the structure within a thirty-six month period. For renovations, alterations, or repairs to an existing building regulated by the California Residential Building Code that involve demolitions, alterations, or repairs that meet the definition of substantial remodeling, the building must meet the requirements for a newly constructed building.
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