The answer depends on the existing structure's condition, the lot's potential, and how much of the current floor plan is worth keeping. Hixson homes from the 1970s and 1980s often have sound framing but layouts that do not work for modern living — in those cases, a major remodel or addition can deliver the result at a lower cost than a full rebuild. When the structure has significant deferred maintenance or the floor plan cannot be efficiently restructured, a custom rebuild on the same lot is often the better long-term investment.