Before undertaking renovation work in the Paris suburbs, the cost of undertaking it must be taken into account. The cost of renovation in Paris is the most expensive compared to other French cities.
This increase is closely linked to the real estate market in the capital. In this sense, renovation is often the result of a real estate investment to restore a house or building to good condition for rental purposes. However, in this city, it takes very little for real estate prices to increase.
Negotiating is the only way to get affordable prices for materials and labor in the Paris suburbs. If you’re wondering why renovations in Paris are so expensive, there are a few factors to consider. This article will discuss the main reasons for the high cost of renovations in the French capital.
The reasons for the high costs of renovation in Paris
In general, renovation is one of the most important steps in a real estate project. In this sense, the Paris region is considered the most expensive location for building and apartment owners. The cost of home renovations is significantly higher there, 20% more than the average in France.
The surface area of the property
The size of the property to be renovated is one of the reasons for the high cost of renovations in the Paris region. Bringing a building up to code in the area can cost you a few thousand euros. However, depending on the scope of the work, the estimate can quickly climb to hundreds of thousands of euros. It’s therefore important to know the size of the property to understand the factors that affect the renovation price.
Renovating a larger apartment or house will naturally be more expensive than renovating a smaller home. Material consumption will be higher on site. However, it’s important to note that if the home is too small, the cost of renovations can be just as high.
Concentrating all the technical elements of the home in a single space can generate higher costs on the work estimate due to their complexity. However, this is the case for the majority of Parisian studios. The renovation budget is generally calculated per square meter, hence the importance of the surface area. Thus, to bring an apartment with a surface area of 50 m² up to basic standards, you should budget between €11,500 and €32,500.
Knowing the area of the area to be renovated is all the more important for planning the budget . Calculating an approximate estimate for the work based on an average price per square meter helps avoid large additional expenses.
The dilapidation of the habitat
The overall condition of the house or building is an important factor that can significantly impact the cost of your renovation project. A building that requires some updating will be easier to renovate than one that is falling into disrepair. Although the likelihood of finding dilapidated buildings in the Paris region is low, it’s wiser to invest in a home that’s in good condition. The renovation cost will be lower, making it more cost-effective to achieve a good return.
A dilapidated or even unsanitary home will require a near-complete renovation, while a run-down home may only require a partial renovation. Real estate work is expensive in Paris due to its scarcity. Few investors will invest their money in a dilapidated house to renovate it. As a result, this is a market where customers prefer profitability over quality.
Companies that handle home renovations generally charge more in Paris. Therefore, the older your home, the more expensive the estimate will be. It’s therefore advisable to choose the right professional for the project to ensure the work runs smoothly.
The scale of the work
The cost of the work estimate depends on its scope. In the city of Paris, this statement takes on even greater meaning, since everything is significantly more expensive due to the location. It’s a highly sought-after city, whether for wealthy tourists or real estate investors. As a result, players in the property renovation market take advantage of this to increase the bills for the work.
Major renovations include demolition work. With the upgrading of energy-efficient installations, such as insulation, electrical components, and gas pipes, you should budget between €1,200 and €1,700 per square meter.
This work primarily involves modifying the structure of the home to minimize energy consumption. If you’re altering load-bearing walls, you should be prepared for a higher budget from the start.
Partial renovation work involves undertaking minor changes to plumbing or electrical equipment. Removing non-load-bearing walls is also considered light renovation work. If you decide to undertake a project for this purpose, you should budget between €700 and €1,000 per square meter.
Renovation work involves only minor modifications to the home. Replacing tiles, repainting, or replacing small household appliances are considered minor renovations. Even in the Paris region, where everything is more expensive, this type of procedure is less costly. The price of this work generally ranges between €150 and €350 per square meter.
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The price of materials
The price of materials in Paris exceeds that of other regions. As a result, it has a considerable impact on construction and renovation projects. Materials make up the largest portion of construction site estimates, hence their importance. The price increase is mainly due to the 2021 shortage, which was marked by the health crisis. The resumption of activity on various international markets is weighing on the price of materials needed for renovations. All locations are affected, but in Paris, prices are more significant. A 50 to 80% increase in wood costs has been observed in eight months, and a 35 to 80% increase for steel.
The impact on these prices among French suppliers is due to insufficient production. Some products are imported from other European countries to fill the gap. Upon arrival, construction materials follow the prices charged across the Atlantic.
With high demand in the Paris region, this price has increased due to location and urgent needs. Price differences can be as much as 9% higher in Paris compared to the provinces when performing the same types of work.
The workforce
Labor is necessary for any renovation project. For the work to run smoothly, you must make sure to hire professionals. The cost of labor greatly influences the final price of your home renovation in Paris.
In most cases, the bill for the services of craftsmen represents half of the budget allocated for the improvement work. The amount to be prepared generally depends on the nature of the work.
To complete the major works, you should expect to pay approximately €600 for labor. The work involved includes masonry, roofing, exterior joinery, and renovation. This estimate was based on a typical construction project. You can discuss each tradesman’s service to obtain a discount.
You should include an architect in your workforce, as they are the first professional who can help you if you are planning a major project. They will be responsible for identifying any potential structural or moisture issues and providing you with the appropriate advice.
They will also be responsible for providing precise guidance and advice on the cost of work required for a complete or partial renovation of the home. During the development phase, they will serve as a guide to coordinate all the work carried out by the various trades.
The cost of using an architect’s services ranges from €70 to €120 per hour, depending on experience and specialization. If they handle your renovation project from start to finish, you should allow for 10 to 15% of the total cost of the work. A helping hand from a professional is essential to avoid hasty and poor-quality work.
Improving energy performance
When renovating an apartment, the focus is often on improving the home’s energy performance. This approach primarily aims to reduce energy demand by increasing the efficiency of the building’s systems.
Some opt for replacing various appliances, while others take the initiative to use renewable energy. However, these options are very expensive in the Paris region.
Electrical installation work doesn’t involve construction work per se. It involves more specifically changing equipment to improve energy efficiency. The modification that requires work involves adapting the location of appliances. Connecting to gas lines or various electrical installations requires professional assistance for safety reasons. Furthermore, aside from minor adaptation work to accommodate new equipment, improving energy performance doesn’t really require a construction site. Replacing a heating system costs between €10,000 and €20,000 per square meter in the Paris region.
Plumbing is sometimes the reason for renovations due to water infiltration or leaks. Indeed, water-related problems are generally the most devastating for building structures. They leave traces that are difficult to remove and can directly harm the house’s foundations.
However, renovating the plumbing system isn’t the cheapest option. For a complete system inspection in addition to the renovation, you should expect to pay between €4,000 and €5,000. For water drainage, you must consider the deterioration of certain walls to access the piping system.
Insulation work is one of the necessary projects to improve the energy performance of a home. Reducing energy consumption is important in metropolitan areas due to their high population. Paris is one of them, as it is a business center in addition to being the capital of France. Insulation work concerns the building’s thermal envelope.
This insulation allows for considerable savings since it affects the overall use of heating. The areas most affected by insulation work are the roof, walls, windows, and floor.
With proper insulation, energy consumption reduction will be guaranteed, in addition to ventilation comfort for good indoor air quality. The costs associated with complete thermal insulation of a house in the Paris region range between 400 and 450 euros per square meter.
The structure of the Parisian real estate market
The structure of the real estate market is one of the key factors driving the rise in renovation costs in Paris. The real estate sector in the capital is already well-established, with its fair share of investors and renovation professionals.
Being a newbie to the real estate scene in Paris isn’t exactly advantageous, as prices are very different from those in other locations. Property values are always on the rise, even in the least desirable neighborhoods. Consequently, the high concentration of students and professionals is driving up demand for housing
. Rising property values and strong rental demand have implications for renovations, which are more expensive due to the urgent need for investors and businesses to compensate for the housing shortage.
Aid and measures to avoid excessive costs
There are grants and programs available to investors looking to get started in real estate in Paris and throughout France. These small incentives, from the government or private organizations, mostly involve assistance related to energy renovations.
” MaPrimeRénov’ ” is a bonus for landlords and co-owners. It helps finance the installation of more efficient heating systems to reduce energy consumption. It is also awarded to encourage the insulation of walls, roofs, windows, and floors to prevent heat loss.
By taking advantage of this offer, you can save money on the interior design of your home in the Paris suburbs. It’s important to note that to qualify for this bonus, the work must be carried out by a company certified by the RGE (Recognized Guarantor of the Environment).
“Habiter mieux sérénité” (Living Better Serenity) provides advice and financial assistance to help low-income households with their energy improvement projects. However, landlords are also eligible, provided they achieve an energy saving of at least 35%.
The maximum amount of the grant is €15,000 and is intended for heating and insulation installations. Therefore, renovations mainly concern the roof and the wired network for installing heating in the room.
This aid was set up to help low-income households save more in the near future. It also serves as a guide for complex renovation projects, providing advice based on the nature of the renovation project to be carried out.
Obtaining financing is always necessary, especially for a renovation in what is considered the most expensive city in France. Alternatively, you can benefit from various loans with very low interest rates if you are not eligible for assistance. For example, the zero-interest eco-loan allows you to finance the energy efficiency improvements of your home without paying interest.
