Owners of older properties are often faced with the question: is it worth renovating or is demolition the better choice? Both options have their advantages and disadvantages, depending on the condition of the building, the financial possibilities and the long-term plans.
When does refurbishment make sense?
Renovation is particularly worthwhile if the building fabric is still in good condition and modernization can increase living comfort and property value. Particularly popular measures are
Renewal of the heating system for better energy efficiency
Replacing windows and insulation to reduce operating costs
Modernization of bathrooms and kitchens to increase the quality of living
New floor coverings, wall colors and lighting for a modern ambience
Refurbishment can be a cost-effective way of upgrading a property, especially if government subsidy programs can be used.
When does demolition make sense?
Demolition is an option if the property has structural defects that make refurbishment uneconomical. This may be the case if:
The floor plan design is no longer up to date and cannot be changed without major interventions
The building fabric is so dilapidated that extensive renovations would be more expensive than a new build
Demolition offers tax advantages, for example if a property with higher value potential is to be redeveloped
Cost comparison and economic efficiency
Whether refurbishment or demolition is more economical depends on the planned measures and the potential for increasing the value of the property. Owners should carry out a precise cost-benefit analysis and also consider the impact on the property value.
Conclusion
Refurbishment offers many advantages if the basic structure of the property is sound. However, if there are significant defects, demolition and new construction may be more economical in the long term. Individual advice from experts helps to make the right decision and get the best out of the property.
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