Renovating a house: What to pay attention to

The importance of renovation and refurbishment measures for property value is undisputed. Investing in the maintenance of a house pays off in the long term, as it not only increases living comfort, but can also maintain or even increase the market value of the property. However, necessary maintenance measures can represent a high financial burden for the homeowner. A partial property sale can be a sensible financing measure to renovate and thus increase the value of the home.

In this blog post, we will take a closer look at the key aspects of renovation and refurbishment measures as well as the EU's roadmap for mandatory thermal refurbishment. We will place particular emphasis on planning and preparation, material selection and sustainability as well as the implementation and coordination of renovation measures.

Important aspects of renovation and refurbishment measures

Planning and preparation

Successful renovation planning is the first step in ensuring that the investment in your property is sustainable. Here are some basic steps that should be considered: Firstly, a needs analysis should be carried out. Identify the areas of your property that are in need of renovation. Prioritise urgent repairs and improvements. Then set a realistic budget that covers all planned renovation work. Also take unforeseen costs into account. A schedule is also important for the renovation work. Take into account possible disruptions and the time by which the work should be completed. You should also not forget permits and regulations. Check whether permits or building licences are required for certain work. Observe local building regulations and environmental requirements.

Material selection and sustainability

The selection of high-quality materials is crucial to ensure the long-term value retention of your property. Consider which materials are best suited to your renovation goals and pay attention to their sustainability. The motto here is: quality before quantity. Choose high-quality materials that are durable and low-maintenance. This saves costs in the long term. To increase your energy efficiency and minimise your environmental impact, integrate environmentally friendly materials. Certifications such as the "FSC" seal issued by the WWF for wood products can be useful aids to ensure that the materials meet ecological standards.

Realisation and coordination

The efficient organisation of the renovation work and the coordination of specialists and service providers are crucial to the success of your project.

Firstly, make sure you have effective project management in place to keep track of progress and costs. Clear communication with contractors and tradespeople is crucial to avoid misunderstandings and keep to the schedule. Also, monitor the work and ensure that the work meets the agreed quality standards.

EU roadmap for the thermal refurbishment obligation

Understanding the thermal refurbishment obligation

The EU directives for energy-efficient properties are playing an increasingly important role in the property sector. They aim to reduce the energy consumption of buildings and thus minimise the environmental impact and achieve long-term climate targets. The aim is for buildings across Europe to be climate-neutral by 2050. The basic intention is to minimise heating with gas and oil by renovating buildings accordingly. The adoption of the directives is intended to oblige member states to take measures to improve energy efficiency in buildings. They set out the requirements for the thermal refurbishment of residential buildings. These include the improvement of thermal insulation, the use of renewable energies and the reduction of energy consumption. However, around three quarters of buildings in Austria were built before 1990. This means that, in theory, 60% are in need of refurbishment from an energy point of view. However, thermal refurbishment can reduce heating requirements by two thirds on average. In the long term, homeowners will be faced with high costs. On the other hand, one of the consequences of this development will be that the value of a property will be determined more by its energy efficiency and the existing heating system. There are fears that older, uninsulated buildings will lose value and, inevitably, people looking for a home will also pay more attention to whether it is equipped with renewable heating systems.

Financing options

In Austria, there is a comprehensive government subsidy for the thermal refurbishment of multi-storey residential buildings and terraced houses that are more than 20 years old. However, the majority of the costs still have to be borne by the homeowner. This can often lead to a high financial burden for homeowners. In addition to the possibility of taking advantage of government support measures, property owners have the option of liquidating the capital walled up in their property and refinancing it through renovations. Partial property sales are an option to maintain or increase the value of the property through renovation measures without having to make financial sacrifices elsewhere. The partial sale model allows the owner to sell up to 50% of the property and still be able to continue to live in and use it as usual.

Conclusion

Overall, it is clear that renovation and refurbishment measures not only increase living comfort, but can also increase property value.Careful planning, high-quality material selection and compliance with sustainability criteria are crucial.In addition, owners should keep an eye on current regulations, particularly the EU directives on thermal refurbishment, in order to benefit from their investments in the long term.Invest early in the maintenance of your property to maintain its value and bring your home up to date.