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Is renovation now mandatory?

Old and energy-inefficient buildings have had their day. At least, that's the view of the EU. If the EU Parliament approves its planned renovation requirement, many property owners in the European Union will face a wave of new building regulations. What does the upcoming renovation requirement mean?

One thing is certain: implementing the necessary renovations will be expensive. Many owners are already dreading the costs. Homeowners who are not investors, i.e., who live in the property themselves and have only a small financial cushion, will not be able to manage without financial assistance. Experts see the new guidelines as a greater burden than the government's new heating law.

What energy standard should a property meet?

older buildings must have at least energy efficiency class E by 2030. By 2033, energy efficiency class D is the next target. The EU is not only planning to replace heating systems, but also to install insulation, replace old windows, and implement other measures that are part of a complete energy renovation. All buildings are to be climate-neutral by 2050.

What costs are expected?

In order to implement the new building guidelines throughout Germany, the annual investment would have to rise to more than 180 billion euros. Currently, this figure is approximately 50 million euros per year. The savings achieved in energy costs do not always offset the modernization costs incurred.

Take advantage of subsidies

The government is helping property owners with financial support. KfW offers various subsidy programs for climate-friendly modernization. The amount of the subsidies depends on the necessary measures and other factors. Many subsidies must be applied for before construction begins. However, some banks (such as Umweltbank) now offer low-interest loans for energy-efficient renovations. The measures covered by such offers depend on the financing partner. A real estate agent can help owners find a suitable offer or an energy consultant in their region.

Avoiding renovation obligations – sell instead of renovate

Not every owner wants or is able to renovate their house and wonders whether it would not be better to sell their old property. Owners who do not fall under the hardship clause of the new heating law are faced with a difficult decision, both financially and emotionally. Anyone selling their old property will find that the values on the energy performance certificate are becoming increasingly relevant for buyers and banks. Demand for properties in poor energy condition is declining. If there are interested parties for the property, the costs of any necessary renovation are often factored into the price. Nevertheless, the energy rating is only one of many evaluation criteria. A real estate agent can professionally determine the value of the property and knows the state of the real estate market in the region. Together, a market-driven asking price can be set.

Do you need support with energy-efficient renovation or are you thinking about selling your property? Then get in touch with us. We will be happy to advise you. Professionally and personally.

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.

Photo: ©  halfpoint/Depositphotos.com

Renovation is often expensive, but can be worthwhile when selling the property due to a higher purchase price. It depends on the individual case and should be assessed in advance by a professional.

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