"Most clients don't want to hear those words," says Paul Irwin, design director with Landis Construction, in the Washington, D.C., area, "but it really needs to be considered on major remodels."In one case, for example, plans for a 1,300-square-foot addition revealed that the house's existing foundation wasn't up to code and would have to be replaced—a $30,000 proposition. After crunching the numbers, the owners concluded that it would cost as much to update the house, a former summer cottage, as it would to reproduce it new. "For a relatively small additional cost," says the owner, "we get all the benefits of new construction while preserving the character and feel of our old house."
Cost to remodel: $570,000
Cost to replicate: $588,000
SAVED: For $18,000, the owners gained as much as $60,000 worth of new living space, plus improved safety and energy efficiency.