When parents pass away and still own their home, they may decide to pass it on to their children as one last gift. However, this situation can be confusing and frustrating if the house is very energy inefficient and costs the children a lot of money. Therefore, they may need to make the wise decision to tear down the old home, sell the remaining materials, and build a new custom home.
Many Old Homes Are Very Inefficient
Inheriting an old home from parents can seem like an exciting windfall for many people. However, the fact is that these older houses are often inefficient because they were not built according to recent standards. And many of these houses may also possess older appliances that have never been updated and that use more energy than is necessary for basic home operation.
This situation can be very troubling for those who inherit a home. First of all, they may want to upgrade the house but find out that they'll be spending almost the total value of the home to perform these upgrades. They may have to make a tough decision to tear down the old home and build a new custom home in its place. While costly, it can be less expensive than efficiency upgrades.
Why Custom Homes Are a Good Step
Though building a custom home is a significant investment, it is a wise and financially strong one. That's because these houses can be upgraded with energy-efficient items – such as an efficiency furnace, better HVAC ducts, stronger insulation, and low-volume toilets – that help to make a house cost less to run. As a result, the homeowner will save money in the long-term.
Just as importantly, they can build a custom home to meet any needs that they may want in their life. For example, instead of having to rely on upgrades and renovations in an old home that may be falling apart, they can build exactly what they want and know that they won't need to upgrade it for decades. That feeling is an incredibly good one for homeowners to have early in their life.
And they can be doing right by their children by providing them with a more energy-efficient home than their parents passed down to them. Though it may seem a bit mean spirited to tear down a childhood home, it is almost always a good idea if a person can save money and help the environment.
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