Even the most beautiful house wears out over time - but anyone who maintains their property knows roughly what construction work will be required after 10, 15 and 20 years and can therefore keep an overview of the costs and financing options. Whether new windows, facade insulation, heating system, or perhaps just new floor coverings and wall design - modernization presents a major challenge for the homeowner and must therefore be carefully planned in detail. We will give you useful tips on how you can renovate, renovate or completely modernize the house and advise you on what you need to consider.
Renovating the house – modernization measures after 10, 15 and 20 years
After just 5 years it worksfirst renovation measuresGo ahead - repaint or wallpaper the interior walls, replace wall coverings, possibly lay new floor coverings, repair or completely replace the room doors. Skilled owners can usually handle the manual tasks without any problems, so only theCosts for materials financedhave to be.
After the 10th year, the first complex renovation work begins - the facade has to be repainted, cracks in the plaster have to be treated. Builders often also have to struggle with moisture in the basement.
From the 15th year onwards, the old heating system is no longer considered energy efficient - the heating system must therefore be modernized by this point at the latest - and possibly retrofitted with a heating controller.
After 20 years the first roof repairs are due and from the 30th year a complete roof renovation is necessary. At this point at the earliest, the front door and windows must be replaced with new ones and the electrical installation must be thoroughly checked.
Conclusion – over time, the vulnerable repairs become more and more time-consuming and expensive. Even with good care, heating, electrical installations, windows and doors have a certain lifespan - after this expires, the builder has to renovate his house. In addition, there are the legally required renovation measures, which also have to be planned for.
Different options for financing home modernization measures
Since the house modernization measures are very extensive, it is worth creating a renovation plan for the coming years and sticking to it. Based on the renovation plan, a budget is then calculated - this means that the costs that the homeowner will incur are listed in detail. If you want to renovate your house, you have three financing options to choose from.
1. Build up financial reserves for repairs - so that the renovation work can be financed with their own savings, builders must regularly set aside certain contributions depending on the age of the house. For buildings up to 5 years old, homeowners need at least 4 euros per square meter annually, for houses over 10 years old – 7 euros per square meter per year, for houses older than 15 years – 8 euros per square meter per year, from 20 years old – 10 euros per year square meters annually.
2. Take out a loan - If your own savings are not sufficient or unexpected repairs occur, builders can apply for a loan. Two types of loans are offered, which finance different measures. The renovation loan is about smaller repair work – re-papering or painting the walls, laying new floor coverings, kitchen design. Modernization loans, on the other hand, have a wide range of services - floor plan changes, facade renovation, new windows and doors, heating system. The banks offer the two loans with earmarks - meaning that the measures taken must then be documented. But the effort is definitely worth it, because thanks to the earmarking, the bank offers low interest rates.
3. Funding for house renovations – the state supportsenvironmentally friendly building technology and energy-efficient construction measures/new windows, heating, etc./. Whether the homeowner can benefit from government funding programs depends more on the renovation work planned.
