Is a property renovation or new build better?

Due to factors such as lower interest rates, rising rental prices, and increasingly small living spaces, many people are inclined to become home owners rather than tenants. But just as Schüco discusses in its blog,
searching for the right property or plot raises an important question: is a property renovation or new build better?

It is not a simple decision and is influenced by the needs of the owner, their finances, the state of property, etc. Each option has its advantages and disadvantages, but depending on what you are looking for, one might be more suitable than the other.

When is a new build better?

If the aim is to have a home adapted to your preferences, a new build is best as it will allow you to customize the home, room layout, interior design, lighting and, in short, prioritize your needs and ensure everything is to your liking.
That’s why this option is so popular. Plus, standards have changed. Where narrow entrances, narrow stairs and small rooms used to be the norm, people are now inclined towards more spacious designs, even if this means fewer
rooms.
Home automation is also a factor to consider. The popularity of home automation is increasing and its implementation is easier in new builds, as cabling can be installed directly. Finally, a new build enables the application of energy efficient designs that help in the fight against Climate Change.

When is it best to renovate?

Sometimes we are forced to buy existing properties due to the difficulty of finding available pieces of land, especially in areas in the centre of town. In these cases, it is advisable to hire an expert to review the condition of the
home before buying, as this will be a decisive factor. The expert can advise you on the renovations required and provide an estimate for the cost of themodifications. If, for example, only a door and window renovation is needed, it
is advisable to buy the property. Renovating a home does not completely exclude the new owner’s ability to
personalize it. It can be given a personal touch by adding extensions, tearing down walls and implementing some redesign, with the advantage that it can be done little by little, depending on the budget available.
There are also other advantages to consider, such as savings to be made if the house already has features such as a paved entrance, garage, swimming pool or garden, the installation of which would be significantly more expensive
if it were a new build. The financial support usually provided by governments if the home is protected and the purpose of renovation is to improve its energy efficiency is also worth considering.

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