Many people are hesitant to embark on a renovation project for their property. However, it is a necessary step to avoid potential deterioration of the building and even an opportunity to give it a new look and/or increase its value. Therefore, undertaking a renovation brings many advantages (financial, symbolic) to your assets, especially regarding its value and/or rental profitability.
Renovation work requires a significant level of investment, which can be a deterrent for those looking to save money. So, why renovate your property? You will find all the answers to this question in this article.
When to do your renovations?
People tend to postpone renovations to save on expenses. However, by doing so, minor renovations can turn into major works. In some cases, the aging of the house or apartment is only noticed after some time. Often, this observation occurs during winter: when the energy consumption of your property and its level of exposure to humidity become apparent. You will then notice a considerable decrease in your comfort and quality of life.
The condition of the insulation is often the best way to know if modification work needs to be carried out. Drafts from windows or doors are telling examples. In addition to uneven temperature in your home, visible water stains are also an early warning sign. This is manifested by peeling wallpaper and the presence of mold or fungi in corners. Water-related problems affecting the walls accelerate the degradation of your home. They are also sources of diseases and other harmful health effects.
Difficulties or problems related to the use of heat-related equipment, such as a boiler or radiator, usually occur after 15 years of use. Therefore, if your real estate acquisition or home is more than 15 years old, renovation work is necessary. You can then opt for newer and, above all, more efficient equipment to improve your quality of life comfort.
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Assistance for Your Renovation Project
There are numerous aids available that can alleviate the costs associated with your renovation project. However, these aids are subject to eligibility conditions.
MaPrimeRénov
MaPrimeRénov is a grant aimed at combating thermal inefficiencies and financing energy renovation works. These works include attic insulation, installing a pellet stove, etc. To obtain it, you must first determine the type of work to be undertaken with a guide or an expert who can read the plans. Secondly, you need to consider the location of the house or apartment you own as well as the income level of your household. This grant is provided by the National Housing Agency.
Note: For the most modest households, this grant can cover up to 90% of the cost of the works.
"Living Better Serenity" Aid
"Living Better Serenity" is a program dedicated to the most modest households. This aid allows the beneficiary to significantly reduce the cost of works, especially those related to optimizing the energy performance of the dwelling. Therefore, attic insulation and heating of the property to be renovated can be covered. For very modest households, the amount of the aid is capped at 15,000 euros and represents up to 50% of the cost of the works.
"Living Serenely/Living Healthy" Aid
The "Living Serenely" and "Living Healthy" aids have been put in place to enable modest households to renovate their homes. The "Living Serenely" grant is intended for large-scale construction and renovation projects. These projects are supported by ANAH at a rate of 50% of the cost of the works. On the other hand, the "Living Healthy" grant particularly concerns the securing of the building. In this sense, renovating the electrical circuit, plumbing, and heating are among the concerns included in the aid program.
Eco-friendly Zero-interest Loan
The eco-friendly zero-interest loan is one of the aids that require the intervention of an RGE (Recognized Guarantor of the Environment) artisan during the implementation of the renovation. The reading and establishment of plans must go through this same artisan to be validated in conjunction with the architect. This type of financing allows for renovation works related to optimizing energy performance.
Reduced VAT
The reduction of the tax rate to 5.5% applies only to energy renovation works and those related to them. Moving radiators or laying tiles in the building can be concrete examples since they are directly related to the installation of energy networks. Also, the installation of electrical equipment that produces heat through renewable energy is also covered by this VAT reduction.
You're just a few clicks away from renovating your home.
Energy Savings Certificate or Energy Grant
This scheme was implemented for energy providers to reduce their customers' consumption. One of the planned schemes is the renovation of apartments or houses for energy-intensive households. Construction and renovation must be carried out by RGE professionals. Only an artisan elected by this label is authorized to put together a viable financing file. The support of an architect remains an undeniable advantage.
Boost
"Boost" offers are necessary to increase the energy grant on certain buildings. Firstly, the Heating Boost is used to finance a heating system based on renewable energy. Heat pumps and biomass boilers are part of this aid. Then, the Insulation Boost helps finance attic and floor insulation. The price granted for this aid varies between 10 euros and 12 euros per square meter, depending on the estimate of the works. The Thermostat Boost, as the name suggests, allows you to purchase a thermostat to control the boiler remotely.
Property Tax Exemption
During the construction or extension of a part of your house, a declaration must be made to the tax authorities. They can then grant an exemption from property tax for 2 years after the end of the construction. Whether for major works or minor renovations, you can benefit from this form of tax relief once the construction is completed.
Local Government Grants
You can also obtain grants from local governments for all renovation works. For more information on this aid, it is advisable to contact the town hall directly.
The Benefits of Renovation
A renovation project is a long-term investment that benefits both the homeowner and the tenant. This process allows, for example, to increase the price of the building or house in question in the event of resale, one of the good reasons to carry out housing renovation works. In the case of a property intended for rental, it is an opportunity to increase the rental value of the property.
Know that renovation works should be considered as an investment rather than an expense. They significantly reduce the energy bill of the dwelling. Moreover, the possibility of tax relief on works and receiving state aid increases the profitability of applicants. Furnishing and decorating the accommodation will also give it greater symbolic and material value. Beyond the question of "how much does it cost me," it is important to shift the perspective and ask "what does it bring me."
Indeed, if the housing in question is intended for rental or sale, renovation can add significant value to the property. With the right layout and materials, the rental or sale price of the property can increase significantly. This is especially noticeable in a dilapidated apartment that becomes high-quality after major renovation works. Note that those related to optimizing the energy performance of the dwelling are the most accessible since they are partly subsidized by the state through financial aid. Experts recommend improving the classification of the Energy Performance Diagnostic (DPE) for more comfort. The DPE reading is based on a classification from A to G (A having the best energy performance and G the worst). On average, a property gains 5% in value for each letter of DPE gained.
In addition to increasing the price of the property, a new layout allows you to bring the accommodation up to date. You can make new adjacent constructions in wood or other materials to add more style. Renovation works are not all very expensive. Sometimes a small modification at a low cost can make all the difference. In addition to having a more comfortable home, you will benefit from a healthy atmosphere, ideal for maintaining your health and general well-being.
Renovation of a property: a multitude of possibilities
There are numerous possibilities when renovating an apartment. You can change whatever you want, following the advice of your interior designer: transforming a studio into a one-bedroom apartment, creating volume, raising ceilings, optimizing space, dividing, etc.
Only professionals can provide you with a realistic estimate based on established plans. It is important to be well supported to avoid exorbitant amendments. Note that estimates generally depend on the classification of the materials you have chosen and the space to be renovated. Hence the importance of the advice provided by your expert.
Choosing the Best Professional for the Job
Renovating your property means entrusting the work to skilled professionals. When renovating your home, you have the freedom to choose each artisan for every aspect of the project. An architect is essential for plan interpretation and dossier compilation. Next, you'll need an artisan corresponding to each trade (plumbing, electrical installation, etc.). At Réno, we already have a network of qualified partners to ensure you a turnkey project.
