A viable option for any new home buyer is to completely demolish an existing structure to make room for a brand-new and customized build. It’s not always the first option buyers lean toward, but it can be effective in giving home buyers everything they want in a home without having to settle. Through tearing down an older house, you can build equity onto the land, which is really where most money goes in certain markets. Though demolition sounds like an easy fix, there are many steps to consider involving permitting, zoning, and demolition challenges. And of course, let’s not forget, price. Prices on demolitions will always vary depending on the square footage of your home and the location of the land. Here are some things that can sway the price of your demolition.
When you look into finding a contractor to aid in the demo of your property, most of them will provide you with quotes for how much the work will cost. There is no standard per-square-foot cost to go by, so be sure to check with multiple demolition contractors in your area to see if you can get a better deal. In low-cost areas, the cost of destruction could be anywhere from $7K to $15K or more. The price is heavily influenced by numerous factors, which we will discuss below.
Asbestos is a mixture of minerals that can be extremely hazardous if exposed. Any home that is older runs the risk of having asbestos within its structure. The dangerous material can be found in flooring, wall tiles, insulation, and popcorn ceilings. There is no easy solution to remove asbestos, and it can be quite costly. Asbestos abatement can cost anywhere from an additional $2 to $3 per square foot to remove. Unfortunately, it’s a price you will have to absorb because of the danger it poses to everyone’s health. You definitely want to hire a specialist to remove this chemical from your home as it’s not something that a person without proper training or equipment should take care of.
The foundation of a house is built to be strong and structurally sound. So it would make sense that removing it would be a real a pain. You don’t have to demolish the original foundation if you plan on keeping the same amount of square footage when building your new home. However, if you want to start completely from scratch, then it’s probably best to remove the old foundation and put in a new one. This includes basements as well. To remove a foundation, heavy machinery will need to be brought in to demolish and remove the concrete foundations. The price for this can be anywhere between $1K to $10K depending on how much labor and debris is involved in the demolition.
The mess that is left after the house has been bulldozed is made up of all the materials used to build the original home. To begin the construction on a new structure, all of the old material will need to be removed. A house made from brick or concrete is more difficult to demolish because it’s a much harder material than wood—thus making the demolition process more involved, taking longer, and ultimately leading to a bit of a steeper cost. In many cases, contractors will have a large dumpster brought to your home where all the debris will go until it’s full. Most debris hauling is measured by weight or the amount of containers you need to completely remove all old materials from your land. The average fees for debris removal can be anywhere up to $500, but this doesn’t include labor.
Demolition can be a great way to completely start over and build your dream home from the ground up. You can always decide to use parts of the previous structure and add on where you choose. It doesn’t have to be a complete teardown. Know your budget and what you can afford before moving forward with any project.