So this is a concept I brought up to my wife recently. This would not be a likely scenario but.

We have a smaller home. Foot print is 1200 SQ. FT(30x40'). It does have a second story. We like our property and location. Especially my wife. The home was being built when we bought it 25 or so years ago. The construction and design are decently ok. Not great. It has served us well. But going forward there will be issues and contending with those for me will become more difficult. Modifying this home does not seem like it would be a good idea. Nor moving it. Although selling it and moving might warranty some consideration.
Tearing it down. Rebuilding a new home very similar in size where it currently sits that is going to be way better construction, single story. Using all existing infrastructe.

Anyone done something like this?

Thanks guys.

I have a buddy that does this as business. And for self (his own house a couple of times).

If one is enamored w/ the location and has the benjamins, seems like a reasonable thing to do. Personally, and w/ talking to my buddy, it costs more than major remodels but is much more satisfying in the end.

If I had the benjamins, I would definitely be open to building from scratch.

That being said, buddy built an in-law cottage on the property in which he could live while the main house was rebuilt from scratch. Took about a year or two. This is a considerable hitch - where to live during construction. Again, if the funds aren't an issue, seems like a good way to go.

It is done all the time.

Be careful of zoning.

Make sure you meet current frontage, lot coverage and are out of the setbacks before you tear it down.

Depending on the jurisdiction, a common way to build if not meeting current zoning is keeping one wall standing and building around it.

You need to talk to the building inspector first.

We did this recently, but the lake property we were on was same value with or without the 60 year old cabin. To us it was valuable as a location our family had been nearly that long.

Doing this with a home that carries significant value is certainly done all the time, but that is a premium to pay over selling and finding similarly satisfactory location to build on, with cash left over after lot purchase.

It sounds like you're somewhat in between these two extremes?

I mean with cash & time anything can be done. I bet cost depending on finish or custom work would be in the $250K - $350K for something pretty basic in that size. But the time you build in demo cost & rebuilding.

It may affect your property taxes, you have to check on that factor as well.

Definitely not the best financial move but if that doesn’t matter to you it can definitely be done. You have to remember financially it would be like taking a match to your place and burning it to the ground without insurance. Then starting with the property and foundation.

I’ve done this twice for clients at SML. You have to be very careful in the demo to not damage the foundation but it can be done.

Will you be adding onto the existing footprint? Now is the time. Make sure you find a good architect and builder who have done this type of work before. DM me if you have any specific questions and I’ll be glad to help.

My wife essentially did that and had just finished the build when we met. For her there were some significant reasons to do it, despite the negatives. The existing house was torn completely down except for the 4 corner posts and the roof support structure.

Demolition isn't that expensive. Not free, but not terrible.

Local architectural code allows renovations to do some things that new builds cannot, such as lot boundary line setbacks and exterior materials. But the roof height could not be raised at all. Check to see that if you tear down that you can actually build what you want on that foundation.

The rebuild had to meet all of the current codes, which meant more expense. Fire code, plumbing, electrical, etc. Lots of newfangled systems like a fire sprinkler system, and an external fire alarm siren linked to the networked smoke detectors. Burn a steak and the whole neighborhood knows about it! There are benefits to having the latest safety systems, but it costs money.

The build took, as they always do, more time and money than the original plan called for.

Any kind of a major build or renovation is emotionally taxing. Buying something existing that meets your needs might be a better plan.

Demolition is even cheaper if you are using an excavator rather than preserving any part of it that you haven't already unbolted and removed from the area!
I've got pics here somewhere.....

Thanks guys, good info. I do have a pretty capable Kubota Mini Exc.

Set backs are not an issue. The best part is no close neighbors and no codes to have to abide by and minimal inspections. Architects are not used here typically. Just the builder.

The original foundation they used those Styrofoam forms which I absolutely hate. The free range chickens loved to peck and eat the Styrofoam.

As far as using the existing foundation and possible adding a 10'-15'x30' extension on it. I am not sure. A 1200' single story house might be acceptable in that case the footprint would be fine. Would I tear out the existing foundation to do a conventional one?. I would lean toward yes.

Smlsig, thank you. That means a lot.

Personally, if i had the house built 25 years sgo (if i read the op correctly), i’d add an additional, like a grand living room.

Ans a detached, fully insulated, with heat, AC 200A, small shower/toilet/sink space, 4,500 sq ft shop with at least two bays and a 4-post lift.

80" tv with full Klipsch surround optional

In our PUD, there are many large lots, which are difficult to find with new construction being homes built on top of each other to max units per acre.

Developers are buying up the 30 to 40+ year old homes, tearing them down and building mcMansions on these large lots. They all sell for big money after.

Reasons like yours and these old homes take a lot of work to bring up to todays tech standards and materials.

From a cost standpoint, locate a home with everything you want to put in your house project and see if you can buy a new one for less, or even if it's the same, zero down time for construction.

I think I'd sell and buy a new home with all the trimmings, solar, led lights, more insulation, updated everything, sell all the furniture, and restock the new house with new stuff.

I thought I saw once there someone did that, but they left the front door or the front wall, and that made it a "Remodel", rather than new construction. FWIW.

One recommendation that I may have is to check with the local building inspector and/or codes. The laws vary from jurisdiction to jurisdiction.

One example that I have seen is in Arlington, Mass.

"If" the basement is left and the existing house is demolished and the new structure is built over the basement, it is considered to be a remodel and not new construction.

I had a 10 X 40 deck torn down and "remodeled" with a 12 X 40 deck and 8 X 8 landing and steps to the back yard done. Contractor left 1 4X4 support in the ground and built around it. It was a remodel because of the 4X4. Deck was 8 feet off the ground (walk out basement).

no personal experience,

however I have seen it done in NOVA,
older neighborhoods, with older houses on 1/4 acre or so lots, and sold,
new owners tear down the 1950's or 1940's or 1960's house, and build a mcmansion following whatever guidelines and zoning allows,

I have been thru several hoods in Northern VA liek that,

odd, but in time, the cost works out

When I was a .mil contractor, I worked in Civil Engineering. By regulation, we were limited in new construction costs, which by loose definition was adding footprint, volume, or relocation. But repair could be accomplished at a higher cost limit if the footprint, volume, or location didn't change.

So, we torn down a WW2 vintage 2000 SF building to the slab, and used that slab in building a modern 1500 SF building.

Higher HQ agreed with our execution and the mission was continued for the using organization.

I'm scratching my head at the the thought of tearing down a house that (by OP) is in good enough shape'
Seems like a big waste of money, sell the existing house and start fresh.
Where you gonna live if you tear down the house and rebuild it?

I can certainly understand wanting to get everything (or at least everything essential) on one level. If you are going to do this you should consider not just your immediate needs but resale as well. You never know when you might need or want the money, or to otherwise change location, and the difference in the resale value of, say, 1800 square feet versus 1200 would likely be significantly more than the cost of building the extra square footage.