The cost of building renovation remains one of the concerns for real estate investors. In this year 2024, prices can vary considerably depending on various factors such as the size of the building, the scope of renovation work, and the geographical location. From simple bathroom renovations to complete facade refurbishments, every aspect of the project can impact the total cost.
Building renovation is an essential step in maintaining the value and functionality of urban spaces. Indeed, both residential and commercial buildings periodically require renovation work to meet constantly evolving standards and address deterioration caused by time.
This article aims to explore in detail the various aspects related to the price of building renovation in 2024. We will examine current trends in average prices, the most common types of work, and tips for optimizing your renovation budget. Additionally, we will provide practical advice for obtaining free quotes and saving money while ensuring quality renovation work. So, what are the prevailing rates dominating the market this year? Details!
What is the Cost of Building Renovation ?
Renovation works can be expensive. Indeed, it is a substantial investment that condominium owners must share among themselves. This will allow them to benefit from a safe, functional, and modern property. Therefore, estimating the budget is essential before undertaking the work. But then, how much does it cost to renovate a building? Well, know that this type of project largely depends on the current condition of the premises. Condominium owners must therefore conduct a preliminary study.
In any case, the cost of refurbishing a building is cheaper compared to that of constructing one. We have therefore taken the trouble to compare prices to give you an idea of the average cost, which ranges between €110 and €345 per m². This type of project involves simple refreshments, such as:
– painting walls,
– painting the facade,
– flooring, etc.
It is safe to say that the price of building renovation varies depending on the type of work to be done. To obtain a reliable estimate, always request a building renovation quote.
Building Renovation Prices According to the Nature of the Work
If you wish to improve a condominium building, you must estimate the total cost of the work. This will allow you to distribute the expenses among condominium owners. Here, two factors must be taken into account: the nature of the operations to be carried out and the extent of the project. Moreover, there are several types of building renovation works (total renovation, medium renovation, refreshment).
Here is a table summarizing the price of building renovation according to the type of work
Type of Work | Average Cost per m² | Price Range |
Refreshment (painting, flooring, etc.) | 110 € – 170 € | 80 € – 250 € |
Partial Renovation (electricity, plumbing, etc.) | 170 € – 250 € | 120 € – 350 € |
Complete Renovation (insulation, roofing, etc.) | 250 € – 345 € | 180 € – 500 € |
Here are the average prices for specific works :
Type of Work | Average Cost per m² | Price Range |
Wall Insulation | 30 € – 90 € | 20 € – 120 € |
Attic Insulation | 35 € – 100 € | 25 € – 150 € |
Roof Insulation | 20 € – 70 € | 15 € – 100 € |
Floor Insulation | 35 € – 80 € | 25 € – 120 € |
Window Replacement | 100 € – 200 € | 80 € – 300 € |
Electrical Compliance | 50 € – 100 € | 40 € – 150 € |
Plumbing Compliance | 50 € – 100 € | 40 € – 150 € |
Price of Complete Building Renovation
Renovating a property increases its value on the market. If you intend to sell a building, you must therefore carry out a complete renovation. This will enable you to attract potential buyers. Therefore, estimating the budget is essential.
To effectively manage the renovation budget, condominium owners must be aware of the costs of a complete building renovation. To do this, consideration must be given to the choice of labor, materials, and operations to be carried out.
The table below provides an estimate of costs for various expenditure items :
Expenditure Item | Average Cost per m² | Price Range |
Structural Work (foundation, walls, roof) | 500 € – 1 000 € | 300 € – 1 500 € |
Finishing Work (electricity, plumbing, heating) | 500 € – 800 € | 400 € – 1 200 € |
Joinery (windows, doors) | 200 € – 300 € | 150 € – 400 € |
Finishes (floors, walls, ceilings) | 200 € – 400 € | 150 € – 600 € |
Sanitary and Kitchen | 200 € – 300 € | 150 € – 450 € |
Painting and Decoration | 100 € – 200 € | 80 € – 300 € |
Other costs should also be considered to evaluate the building renovation budget, including :
– Architect fees,
– Building permit fees,
– Studies and diagnostics,
– Various expenses (insurance, cleaning, etc.).
It is important to inquire about available financial assistance. Also, don't forget to research thoroughly and compare offers before committing to a renovation project.
Renovation Prices for Private Areas of a Building
A building comprises private areas that translate into living spaces specific to each owner. The cost of building renovation thus varies depending on the room or private area to be improved. If you are a co-owner, perform a preliminary estimation to assess the cost of works in your area. The renovation price will depend on the room to be renovated.
Kitchen Renovation Prices in a Private Area
You live in a condominium building and wish to improve the condition of the kitchen in your apartment? A kitchen renovation is necessary. The average cost of a kitchen renovation in a condominium is around €235 per m². This rate includes wall painting and kitchen furniture renovation. Not to mention the change of flooring. The budget for plumbing and electrical renovation work amounts to over €850 per m². Don't hesitate to request a kitchen renovation quote for a complete cost assessment of your works.
Bedroom Renovation Prices for an Apartment in a Condominium
Among the private areas of a condominium building, bedrooms are essential. Starting a renovation project is necessary to optimize your comfort. So, what is the price of renovating a bedroom in a condominium? The budget to plan for renovating this private area ranges from €125 to €255 per m². This price includes window glazing replacement, floor replacement, wall painting, and insulation installation.
Bathroom or Toilet Renovation Prices for a Building
To enjoy a functional accommodation, you must renovate the bathroom. In the private areas, resident co-owners take care of their respective zones. But then, how much do bathroom and toilet renovation works cost ?
The price of a bathroom renovation can vary greatly depending on the extent of the works to be carried out. The average cost ranges from €1,000 to €15,000.
This summary table provides an estimate of costs for different types of improvements :
Type of Improvement | Average Cost | Price Range
Type of Improvement | Average Cost | Price Range |
Sanitary Fixtures Replacement (WC, sink, shower/bathtub) | 2 000 € – 5 000 € | 1 000 € – 8 000 € |
Tile Renovation | 1 500 € – 3 000 € | 1 000 € – 4 000 € |
Electrical and Plumbing Compliance | 1 000 € – 2 000 € | 500 € – 3 000 € |
Walk-in Shower Creation | 3 000 € – 5 000 € | 2 000 € – 8 000 € |
Whirlpool Bathtub Installation | 5 000 € – 10 000 € | 4 000 € – 15 000 € |
Bathroom Expansion | 10 000 € – 20 000 € | 5 000 € – 30 000 € |
Renovation Price for Apartment Entryway
If you live in an apartment building and want to renovate your entryway, knowing the prices is crucial. To renovate an entryway in a condominium, expect to budget between €115 and €285 per square meter. This rate may vary depending on the condition of the area. For renovating the entryway and replacing the door, budget up to €2,850 (including supplies and installation labor).
Renovation Price for Common Areas of a Building
In addition to private areas, a building also has common areas. Therefore, apart from renovating private spaces, renovating common areas is also necessary. All condo owners are responsible for their maintenance, and the expenses are divided among them. This applies to the renovation of common areas as well. These areas include :
– Entrance halls,
– Staircases,
– Elevators,
– Corridors,
– Attics,
– Pipelines,
– Gardens,
Courtyards,
– Electrical networks,
– Boiler rooms…
These are all common areas of a building. Renovation work becomes necessary as soon as signs of deterioration are noticed in these areas. But how much does renovating the common areas of a building cost? The average cost ranges from €110 to €345 per square meter (m²).
The price of renovating the common areas of a building can vary greatly depending on the extent of the improvements needed.
This summary table provides an estimate of costs for different levels of improvement :
Level of Improvement | Average Cost per m² | Price Range |
Refreshment (painting, flooring, etc.) | 110 € – 170 € | 80 € – 250 € |
Amélioration standard (électricité, plomberie, etc.) | 170 € – 250 € | 120 € – 350 € |
Amélioration confort (isolation, chauffage, etc.) | 250 € – 345 € | 180 € – 500 € |
Refreshment
Refreshment works involve painting walls and ceilings. It also includes replacing the flooring and refurbishing the woodwork.
Standard Improvement
It includes, among other things :
– Bringing electrical and plumbing systems up to standard,
– Replacing lighting fixtures,
– Installing secure entry doors.
Comfort Improvement
This operation encompasses the following works :
– Insulation of walls and attics,
– Installation of an efficient heating system,
– Implementation of controlled mechanical ventilation (CMV).
Factors influencing the price of renovation of common areas in a building are :
– The condition of the common areas: the older and more deteriorated the common areas, the higher the renovation cost will be ;
– The size of the common areas: prices generally decrease according to the surface area.
Building Renovation: Independent Contractors or Architecture Firm ?
Independent contractors often offer specialized services in specific areas such as plumbing, electrical work, or carpentry. Their flexibility and ability to work on small projects can be advantageous for targeted renovation work, such as renovating a bathroom or installing flooring. Additionally, they may sometimes offer more competitive prices, which can be appealing for projects with a limited budget.
On the other hand, engaging an architecture firm can provide a more comprehensive and professional approach to renovation. These firms typically have a multidisciplinary team of experts capable of managing all aspects of the project, from initial design to overseeing construction.
Their expertise can be particularly valuable for complex projects requiring structural modifications or specific designs. Furthermore, architecture firms often have established relationships with contractors and suppliers, which can ensure the quality of materials and workmanship.
Whatever your choice, be sure to obtain multiple detailed quotes and check the professionals' references before making a decision. Ultimately, the goal is to choose the option that best meets your needs and expectations for building renovation.
How to Get a Better Price for Building Renovation ?
In conclusion, obtaining a better price for building renovation can be achievable by adopting a few effective strategies. First and foremost, it is essential to carefully plan the renovation work by determining priorities and assessing the costs associated with each aspect of the project. Having a clear vision of the work to be done makes it easier to negotiate with contractors and suppliers to obtain competitive prices.
Furthermore, researching competitive materials and craftsmen is another way to reduce the total cost of renovation. Comparing prices and requesting multiple quotes can help find the best deals without compromising the quality of materials or services. Additionally, some contractors offer the opportunity to benefit from grants or tax credits for eco-friendly renovation work, such as energy-efficient renovations. Learning about these opportunities can help alleviate the financial burden of renovation while contributing to environmental preservation.
Finally, remaining flexible and open to adjustments during the renovation process can also lead to savings. Sometimes, alternative solutions or compromises can be considered to stay within the initial budget while achieving renovation goals. In summary, obtaining a better price for building renovation requires careful planning, thorough research, and a flexible approach to adapt to unforeseen circumstances while maintaining the quality of the work performed.
