The owner of a plush home in Tucker’s Town wants to rip it down and build a new one in its place, should he get approval from Government planners.

The owner asked not to be identified.

He bought the property late last year with the specific desire to demolish it and start all over again.

He said: “Renovating costs more than building a new one, I think any contractor would tell you that.”

He mentioned two other homes in the ritzy community had undergone similar demolish-rebuild plans in recent history.

The property in question is called Crewkerne and sits at 23 Tuckers Town Road. It’s a three-bedroom home with a one-bedroom apartment on the lower level.

The new house will be bigger, offering four bedrooms and a lot of perks — a study, living room, dining room, recreation room, gym and family room spread over two storeys. There’s also to be a pool and pool house if all the plans are approved.

“The current house is too small because I have a large family. We decided we would re-build the house and live in it,” the owner said. He identified himself as a Bermudian.

The previous owners rented the house to wealthy visitors for weeks at a time.

In the grand scheme of things Crewkerne, in its present condition, doesn’t really stack up to its neighbours in terms of opulence. The nearly water’s edge property, which is at least 60 years old, has a $114,000 annual rental value (ARV), according to the Government’s land evaluation website. The AVR number represents what the owner might reasonably expect to collect in rent on a yearly basis.

Next door at 25 Tucker’s Town Road a home called Pink Chimneys fetches $360,000 in ARV — more than three times as much.

If the comparable ARVs differ so dramatically between the two properties it’s assumed the resale value would be equally disparate.

It’s anticipated the proposed new construction would narrow the gap.

Down the road at Ross Perot’s mansion, planners are considering a proposal that would give the former US Presidential candidate a new right of way into his home.