Cost-benefit analysis when renovating
Upgrading the existing building structure often leads to investing a lot of money in unnecessary areas that do not noticeably increase the market value of a property. Because even a renovated old building with old parquet floors and the original staircase often offers more living quality and comfort than a completely renovated home.
In any case, before starting the renovation work, a precise plan should be drawn up that offers the best possible balance between costs and benefits. This is where the advice of an expert can protect against unnecessary spending. At the same time, he can monitor the work during the renovation and provide advice in the event of any problems that may arise.
Set renovation priorities
When renovating, not all work needs to be done at once, as some projects can be started after the rest of the work has been completed. With a new heating system and good facade insulation combined with new windows, energy costs can be reduced immediately. A new coat of paint for the facade enhances the appearance of the building, but it may only make sense after all other work has been completed.
Preserve the charm of a building
Sometimes less is more, and that also applies to renovation work in your own four walls. Historic houses in particular often have features that must be preserved and that retain the charm of a building. The original wooden floor should remain just as untouched as the historic fireplace or the artistic decorations on some facades. Sanding the floor, on the other hand, is not a problem.
The numerous options for converting your property into a smart home should also be used with care when renovating old buildings. Owners should always keep in mind how the changes could affect the value and thus the selling price of the property. Not all buyers like full connectivity of their potential new home.
A new facility also changes the appearance of a property. The new kitchen can look practical and elegant, but sometimes it is enough to replace individual components such as the refrigerator or the worktop. As a rule, several thousand euros can be saved in this way, since a new kitchen is usually the most expensive investment of all furnishings.
h2>Observe legal requirements
Upcoming renovation work also offers the opportunity to tackle the expansion of your own premises. The expansion of the attic or the addition of a winter garden can be options.
Again, professional advice should be sought as without the necessary permits and applications, homeowners can face enormous costs. However, some work is also possible without the consent of the legislator.
The state also offers financial support for some projects. Especially when it comes to renovation work combined with an increase in the energy efficiency of the property, owners can hope for large amounts of funding. As a rule, however, these changes have little influence on the value of a property. Here, too, owners should think carefully about which priorities they want to set for the renovation work.
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