
How can the value of a property be increased?
Real estate can generate good sales revenue. But only if there are no structural defects. It therefore makes sense to repair broken windows and other damage in the house. And while you're maintaining the property, you can also remove any signs of wear and tear. Or you can bring the property up to date. After all, the fewer defects and the more modern a property is, the more it is ultimately worth on the market.
Increased value through modernization
The basic goal of modernization is to increase the value of the property. A good way to increase value is through energy-efficient modernization. The better the values on the energy performance certificate, the more you can ask for the property.
Measures for the energy performance certificate include, for example, thermal insulation of exterior walls or the basement ceiling. The installation of a modern heating system and heat-insulating windows are also included.
Open and modern floor plans, large rooms, and barrier-free access throughout the property also have a positive effect on value. In addition to these measures, it is also possible to add a conservatory or balcony.
Increased value through renovation
Unlike modernization, renovation involves making the property usable and maintaining it so that its (living) quality is restored. This can be achieved by repairing leaky roofs or removing mold, dry rot, and asbestos, among other things. More specifically, all measures that are necessary due to defects or repairs.
Increased value through renovation
Renovation work is about creating a better living environment through visual, superficial improvements. Classic measures include all painting and wallpapering work, but also the superficial renewal of floor coverings. For example, installing underfloor heating modernizes your property in terms of energy efficiency. This measure goes beyond the superficial and is therefore not considered renovation work. A visual improvement can increase the value of the property by making it more attractive.
Costs of value-enhancing measures
If you want to get more money for your property by refurbishing, renovating, or modernizing it, you need to think carefully about whether the investment is worthwhile in your individual case or even financially feasible. Renovation work costs less than refurbishment and modernization measures. However, owners often have to invest several thousand dollars. The costs vary greatly depending on the scope and type of measure.
Would you like to know how you can increase the value of your property? Or whether it is financially worthwhile for you? Then get in touch with us! We will be happy to advise you.
You can find more information here:
- https://www.makler-vergleich.de/immobilien-bewerten/welche-modernisierungsmassnahmen-erhoehen-immobilienwert.html
- https://exporo.de/wiki/wertsteigerung-von-immobilien/
- https://remax-kontor.de/den-immobilienwert-durch-den-anbau-eines-balkons-steigern/
Notes
For reasons of readability, the generic masculine form is used in this text. Female and other gender identities are expressly included where necessary for the meaning of the text.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.
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