Many people are apprehensive about renovating project for their property. However, it is a necessary step to avoid potential damage to the building and even an opportunity to give it a new look and/or add value. Therefore, carrying out a renovation brings many benefits (financial, symbolic) to your property, particularly with regard to its value and/or rental profitability.
Renovation work requires a significant investment, which can be a barrier for those looking to save money. So, why renovate your property? You’ll find all the answers to this question in this article.
When should you do your work?
People tend to postpone renovations to save on the necessary expenses. However, by doing so, basic renovations can turn into major projects. In some cases, the dilapidated state of the house or apartment is only noticed after some time. This observation often occurs during the winter: when your property’s energy consumption 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 determine whether renovations are needed. Drafts coming from windows or doors are clear examples. In addition to uneven temperatures in your home, visible water marks are also a warning sign. This is evident in peeling wallpaper and the presence of mold or mildew in corners. Water-related problems affecting walls accelerate the deterioration of your home. They are also a source of illness and other harmful effects on health.
Difficulties or problems related to the use of heat-related equipment, such as a boiler or radiator, usually occur after 15 years of use, and are not left out. Therefore, if your property purchase or home is more than 15 years old, renovation work is necessary. You can then opt for more recent, and above all, more efficient, equipment to improve your living comfort.
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Assistance for renovating property project
There are a multitude of grants available that can ease the burden of your renovation project. These grants are subject to eligibility requirements.
MaPrimeRénov
MaPrimeRénov is a bonus designed to combat thermal sieves, but also to finance energy renovation work. These works include: attic insulation, the installation of a pellet stove, etc. To obtain it, you must first define the type of work to be undertaken with a guide or an expert who can read the plans. Secondly, you will need to consider the location of the house or apartment you own as well as the level of resources available to your household. This bonus is paid by the National Housing Agency.
NB: For the most modest households, this bonus can go up to 90% of the work estimate.
The “Live better with peace of mind” aid
Habiter mieux sérénité (Living Better Serenity) is a program dedicated to low-income households. This assistance allows the beneficiary to significantly reduce the cost of work, particularly those related to optimizing the energy performance of the home. Consequently, attic insulation and heating of the property to be renovated can be covered. For very low-income households, the amount of assistance is capped at €15,000 and represents up to 50% of the cost of the work.
The “Living peacefully/Living healthy” aid
The Habiter serein and Habiter sain grants were established to enable low-income households to renovate their homes. The “Habiter serein” grant is designed for large-scale construction and renovation projects. These are covered by the ANAH (National Agency for Housing and Housing) at a rate of 50% of the cost of the work. On the other hand, the “Habiter sain” grant focuses specifically on building security. In this sense, renovation of the electrical system, plumbing, and heating are among the concerns included in the grant scheme.
The zero-interest eco-loan
The zero-interest eco-loan is one of the types of assistance that requires the involvement of an RGE (Recognized Environmental Guarantor) craftsman during the development. The reading and drawing up of the plans must be carried out by this same craftsman to be validated in conjunction with the architect . This type of financing allows renovation work to be carried out to optimize energy performance.
Reduced rate VAT
The tax rate reduction to 5.5% only applies to energy renovation work and related renovations. Relocating radiators or installing tiles in buildings are concrete examples, as they are directly related to the installation of energy networks. This VAT reduction also applies to the installation of electrical equipment that produces heat using renewable energy.
You are just a few clicks away from renovating your home
The Energy Savings Certificate or the energy bonus
This system was put in place to help energy suppliers reduce their customers’ consumption. One of the planned measures is the renovation of apartments or houses for homes that consume too much energy. Construction and development must be carried out by RGE (Regional Energy Management) professionals. Only a craftsman approved by this label is sworn in to prepare a viable financing application. The support of an architect is always an undeniable advantage.
Helping Hand
The “Coup de Pouce” offers are necessary to increase the energy premium for certain buildings. First, the Heating Coup de Pouce is used to finance a heating system based on renewable energy. The heat pump and biomass boiler are part of this aid. Second, the Insulation Coup de Pouce allows financing of attic and floor insulation. The price granted for this aid varies between 10 euros and 12 euros per square meter, depending on the work estimate. The Thermostat Coup de Pouce, as its name suggests, allows you to purchase a thermostat to control the boiler remotely.
Property tax exemption
When building or extending part of your home, a tax return must be filed with the tax authorities. The tax authorities may then grant a property tax exemption for two years after the completion of the project. Whether for major renovations or minor renovations, you can benefit from this form of tax relief once the project is completed.
Aid from local authorities
You may also be able to obtain assistance from local authorities for any renovation work. For more information about this assistance, it is advisable to contact the town hall directly.
The advantages of renovation
A renovation project is a long-term investment that benefits both the owner and the tenant. This approach can, for example, increase the price of the building or house in question if it is resold, which is one of the good reasons to carry out home renovation work. In the case of a property intended for rental, it is an opportunity to increase the rental value of the property.
Be aware that renovation work should be considered an investment rather than an expense. It can significantly reduce the home’s energy bill. Furthermore, the possibility of tax-exempting the work and benefiting from state aid therefore increases the profitability of applicants. Furnishing and decorating the home will also give it greater symbolic and material value. Beyond the question of “what does it cost me,” it is important to shift the perspective and ask yourself “what do I get out of it?”
Indeed, whether the property in question is intended for rental or sale purposes, renovation can add significant value to the home. With the right layout and materials, the rental or sale price of the property can increase considerably. This is especially noticeable in a dilapidated apartment that has been upgraded after major renovations. Note that improvements related to optimizing the energy performance of the property are the most accessible as long as they are partially subsidized by the State through financial aid. Experts recommend improving the DPE ( Energy Performance Diagnostic) rating for greater comfort. The DPE rating is based on a classification from A to G (A having the best energy performance and G the worst). A property increases in value on average 5% for each DPE rating increased.
In addition to the rising cost of housing, a new layout allows you to update your home. You can add new, attached structures made of wood or other materials to add more style. Not all renovation work is expensive. Sometimes a small, inexpensive change can make all the difference. In addition to having a more comfortable home, you’ll benefit from a healthy atmosphere, ideal for maintaining your overall health and well-being.
Renovating a property: a multitude of possibilities
There are many possibilities when renovating an apartment. You can modify anything you want, following the advice of your interior designer: transforming a studio into a one-bedroom apartment, creating volume, raising the elevation, optimizing space, dividing it up, etc.
Only professionals can provide you with a realistic quote based on the plans you’ve established. It’s important to have the right support to avoid exorbitant addendums. Note that quotes generally depend on the list of materials you’ve chosen and the space to be renovated. Hence the importance of the advice provided by your expert.
Choosing the best professional in charge of the work
Renovating your property means trusting professionals. By renovating your home, you can choose the right craftsman for every aspect of the project. An architect is required to review the plan and prepare the file. You’ll then need a craftsman who specializes in each trade (plumbing, electrical installation, etc.). At Réno, we already have a network of qualified partners to guarantee you a turnkey project.
