A current trend in some of the more upscale communities in the Bay Area is that rather than settle for a simple remodel, homeowners are tearing down their million dollar homes – and rebuilding multi-million dollar homes.
According to Hal Nelson of O. Nelson & Son excavating and demolition company in Woodside, “We’re wrecking 3,000-square-foot houses and erecting 14,000-foot houses.” Nelson added that he has 20 tear-downs scheduled in Los Altos, Palo Alto, Menlo Park and Atherton. Business increased by 20% last year, and by 15% in 2012.
Tearing down and rebuilding is especially prevalent in the 680 corridor including Lafayette, Orinda, Danville, Alamo, and San Ramon.
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