To refurbish or knock down, that is the question

These are initial sketches for a new house we are designing in Petersfield, Hampshire. We are currently exploring options for either an extensive refurbishment of the existing property or its replacement with a new build house. This is always a difficult judgement that requires careful financial analysis at the front end. Not only does a new build house offer greater opportunities for creating a bespoke design, it is also likely to achieve a higher end value once complete and there is no VAT to pay. The question, as always, is will it stack up to knock the existing house down? Watch this space....