Refurbishment backlog – would I be better off selling my property?

Un propriétaire qui souhaite ou se voit contraint de rénover son bien immobilier se retrouve face à de nombreuses interrogations et des coûts non négligeables. Que faire si les travaux de rénovation à entreprendre s’accumulent, font grimper la facture et mettent vos nerfs en pelote ?

In the context of property, we talk of a refurbishment backlog when properties have not received the necessary refurbishment work and therefore don’t meet current technical standards. A lack of funds is a common reason for a refurbishment backlog.

Which parts of the property are affected?

When it comes to refurbishment backlogs, the most commonly affected areas of the property are the roof, flooring and building services. But these are just a few examples. The areas in need of refurbishment always depend on the state of the old building.

When selling real estate, many pitfalls lurk that diminish success.

Approach the sale professionally. We will help you. Contact us.

 

A property from the 1930s that has always been adapted to the latest technical standards will have less of a refurbishment backlog than one from the 1960s that hasn’t been updated in any way since it was built.

To find out exactly what needs doing to their property and whether the cost of refurbishment is worth it, owners should consult a construction specialist or architect. The possible presence of hazardous substances in the roof area might also require the services of a surveyor. A local estate agent can help you find a competent expert in your area.

What are the potential costs faced by owners?

The extent of the costs depends on the condition of the property. Even simply updating the electrics can cost up to five figures. The same goes for cellar refurbishment, roof repairs and the removal of hazardous substances. The costs of setting up the construction site and hiring experts must also be factored in.

Owners of rental properties must also be aware that a maintenance backlog makes these buildings unprofitable in the long run. The longer the refurbishment work takes, the greater the loss of rent income. Old heating systems and poor insulation drive the costs up further.

When the costs are too high

If, following the construction experts’ report, it turns out that the refurbishment costs are too high and unaffordable, or if the investment is not worth the outlay, then we advise that you consult an estate agent about potentially selling the property. This is because a demolition and new-build are also expensive. Furthermore, a demolition is not always possible without further obstacles to overcome.

Are you planning to refurbish your old property and are unsure whether it is worth the money? Then get in touch with us! We will be happy to support you.

Note
In this text, the generic masculine is used for better readability. Feminine and other gender identities are explicitly included to the extent necessary for the statement.

Legal note: This article does not constitute tax or legal advice in individual cases. Please have the facts of your specific individual case clarified by a lawyer and/or tax advisor.

Photo: © PantherMediaSeller/Depositphotos.com

APPRAISE YOUR PROPERTY NOW

Free of charge and without obligation

Was sollte man über das neue Gebäudeenergiegesetz wissen?

Am 1. November 2020 ist das neue Gebäudeenergiegesetz (GEG) in Kraft getreten. Es dient dazu, Regelungen zur Begrenzung des Energiebedarfs von Gebäuden, die bisher auf verschiedene Gesetze wie EnEV und EEWärmeG verteilt waren, an einer […]

Read more

Senioren-WG: Aus dem Eigentum in die WG

Wenn sich im Alter die Unfälle im Haushalt häufen, fragen sich Betroffene wie deren Angehörigen, ob die eigene Immobilie noch das richtige ist. Seniorenresidenzen und Pflegeheime sind selten und oft teuer. Für Senioren, die ihren […]

Read more

Developments in property prices – is the property bubble bursting, or is it the crystal ball that’s about to shatter?

Prognosen zur zukünftigen Entwicklung des Immobilienmarktes haben eines gemeinsam – sie beruhen auf Annahmen, die entweder eintreten können oder auch nicht. Insofern gleichen sie einem Blick durch die Glaskugel. Analysten der Deutschen Bank haben nun […]

Read more

OUR TEAM

with passion for service

Mathilde Allemand

Office Berlin Wilmersdorf

Junior Project Manager

French, German, English +49 30 88 70 24 08 mathilde.allemand@aden-immo.com

Michael Bautz

Office Berlin Friedrichshain

Real Estate Agent

German, English +49 30 29 77 87 80 michael.bautz@aden-immo.com
Lars Drewes

Lars Drewes

Office Berlin Wilmersdorf

Head of Sales

German, English +49 30 23 633 533 lars.drewes@aden-immo.com
Foto Mitarbeiterin Isabelle Goncalves

Isabelle Goncalves

Office Berlin Wilmersdorf

Real Estate Agent

French, German, English +49 30 887 024 07 isabelle.goncalves@aden-immo.com

Robina Henicke

Office Berlin Friedrichshain

Real Estate Agent

German, English +49 30 29 77 87 80 robina.henicke@aden-immo.com

Annabel Huard

Office Berlin Wilmersdorf

Senior Project Manager

French, German, English +49 30 88 70 24 08 annabel.huard@aden-immo.com

Udo Lewin

Office Berlin Wilmersdorf

Real Estate Agent

German, English +49 30 23 633 533 udo.lewin@aden-immo.com

Olivier Montero

Office Berlin Friedrichshain

Real Estate Agent

French, German, English +49 30 29 77 87 80 olivier.montero@aden-immo.com

David Nguyen

Office Paris

Managing Director

French, English +33 1 56 33 70 70 david.nguyen@aden-immo.com

Hélène Salvanes

Office Berlin Wilmersdorf

Marketing & Business Development

French, English, German +49 30 88 70 24 08 helene.salvanes@aden-immo.com
Porträt Arnaud Schott_quadratisch

Arnaud Schott

Office Berlin Wilmersdorf

Managing Director

French, German, English +49 30 23 633 533 arnaud.schott@aden-immo.com

Cihan Selmo

Office Berlin Charlottenburg

Real Estate Agent

German, English, Turkish +49 30 220 66 11 77 cihan.selmo@aden-immo.com

Ulrike Siebert

Office Berlin Wilmersdorf

Marketing Manager

German, English +49 30 88 70 24 08 ulrike.siebert@aden-immo.com

Julian Strehblow

Office Berlin Charlottenburg

Real Estate Agent

German, English +49 30 220 66 11 77 julian.strehblow@aden-immo.com
Foto Mitarbeiterin Alice Thion

Alice Thion

Office Berlin Wilmersdorf

Rental Manager

French, German, English +49 30 887 024 07 alice.thion@aden-immo.com

Jeannette Zentel-Schertlin

Office Berlin Charlottenburg

Real Estate Agent

German, English, Spanish +49 30 220 66 11 77 jeannette.zentel-schertlin@aden-immo.com