A teardown refers to a process in which a real estate company or individual buys an existing home and then demolishes and replaces it with a new one. Frequently, the new building is larger than the previous one, in an attempt to increase the appeal of the property to prospective buyers or take advantage of rising property values. The process is especially common in older suburbs, where people wish to have larger homes, and yet do not want to move to far-out exurbs or new developments. A common result is the gradual degradation of the historic character of the neighborhood. The redevelopment of Brownfield land also usually involves teardowns, but the term is often limited to residential properties.
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