The option of demolishing a home is typically not something that many homeowners think about when trying to decide on their options for repairs and renovations, moving, selling the land, and the like. However, a demolition can be a good choice in many cases; note when this is and why demolishing can be right for you and your home under these circumstances.
Consider upcoming repairs
A home may need just one major repair at the moment, and the cost of this one repair may not actually justify demolishing the house itself. However, consider if the home will need many upcoming repairs, and their costs as well as inconvenience. In many cases, various parts of an older home may need repair and replacement at the same time; for example, a roof, plumbing, electrical wiring, and concrete surfaces may all begin to suffer damage after a certain number of years, and they may all be in disrepair. While repairing any one of these may be affordable, if you will only need to continue to make major fixes to the home in the very near future, it might be the more affordable option to simply demolish it and build something new.
This can be especially true if the home has suffered major damage, such as from a flood, earthquake, or fire. You may be able to make some simple, quick fixes right now so that the home is liveable, but may also be facing major repair bills over the next few months. Demolishing the home and building something new can then be the more cost-effective choice in these cases.
Asbestos is often safer when it's simply contained, and mould can typically be cleaned so that the home is safe and as good as new. Even pollutants like radon can be cleaned from the air.
However, if hazardous materials in the home are very extensive, it may be more cost effective to have the home demolished, as you need to clean these materials and then make any fixes or upgrades that will keep the home safe from future mould, air pollution, and the like. You may also simply feel safer in your home by having all those damaged materials removed, and a new home built in the same spot. Talk to a contractor about the safest option for your home and if it's at risk for continuing to develop mould or suffer other contaminants, and if demolition would be a better choice in those cases.