Aug 28th 2019
Properties in need of renovation - turn old into new
As experienced real estate professionals, we understand that renovation can be not only a necessity but also an opportunity. Join us on this journey from the old to the new.
Properties in need of renovation often have a reputation for presenting challenges, but we see them as hidden gems. Why? Here are some compelling reasons:
- Cost-effective entry option
The purchase price for properties in need of renovation is often lower than for properties that have already been renovated. This offers a cost-effective way to enter the real estate market while creating space for customization. - Increase in resale value
Through careful renovation you can significantly increase the resale value. Renovation projects make it possible to design the property according to your ideas and at the same time meet contemporary standards. - Unique character
Properties in need of renovation often have a unique character and charm that is difficult to find in new buildings. The combination of historical architecture and modern design can deliver an impressive result. - Investment in the future
The demand for renovated properties is high. By renovating, you not only rely on contemporary standards, but also on a long-term increase in value.
Terminology & meaningfulness
There are plenty of reasons why many people fall in love with an older property. “Older” is a flexible term, after all, houses that were built in the 1990s or 2000s are no longer new buildings. This refers to properties that are older than 50 years, which means buildings that were built before 1970. The low prices in particular encourage people to buy older properties.
When it comes to the question of whether it makes sense to buy and renovate an old house, other factors, such as the structural condition and the renovation costs, also play an important role. At what height is it better to simply demolish a property and build a new one? If the renovation costs more than three quarters of the cost of a new building, it is usually no longer worthwhile to renovate an existing property. However, this only happens in very few cases. It is usually cheaper to renovate a property that needs renovation.
Old building renovations & funding
The same subsidies apply to renovations of old buildings as to new properties. Up to 30% of the purchase costs for new insulation for roofs, windows, external walls and doors or for replacing heating systems are supported. In addition, houses used to be built much more spaciously. Such apartments usually have a more attractive design than today's minimalist, modern construction. Older apartments are often perfectly designed and can be customized according to your own wishes.
Overlooked by Us, Discovered by You
Properties in need of renovation are not just construction projects; they are an invitation to shape and develop potential. At Tirol Real Estate we view these projects as a journey that we undertake together with our customers.
We are proud to not only sell real estate, but to create living spaces. If you are interested in exploring the possibilities of properties in need of renovation, we are your trustworthy partner on this exciting journey. Contact us and let us realize your real estate ideas together.