2 min
Time is a destructive force. Kitchen, bathroom, floors, and heating – sooner or later, pretty much every house and apartment will need at least a partial, if not full, overhaul. What are the costs for homeowners when repairs are necessary?
First of all, it is important to distinguish between refurbishment, renovation, and modernization . Refurbishment and rehabilitation generally involve damage repair. This may be mold that needs to be removed, moisture damage, a leaking roof, or cracks in the wall, for example. The aim here is to return something to its original state. The costs borne by homeowners in this situation depend very much on the individual circumstances, of course. Nevertheless, it is possible to identify certain figures that can be used as a guideline.
In contrast to refurbishment and rehabilitation work, the purpose of renovations is to improve part of the house. The focus here is primarily on making visual improvements, which should improve quality of living. Floors, walls, kitchen, bathroom – there are so many possibilities for renovation. It goes without saying that the sums invested here can also vary greatly depending on the requirements.
Modernization is about bringing the house or apartment up to date. This includes, for example, insulating the building shell, replacing old windows, or upgrading the heating system. Therefore, these types of project usually involve conversion work that reduces energy costs, conserves resources, and sustainably increases the residential value of the property.
A loan is the ideal financing solution for urgent renovation or refurbishment work in particular. It gives you the liquidity you need to organize the necessary work in the shortest possible time. Homeowners also benefit from special conditions with BANK-now.
*The costs stated are guidelines. They may vary depending on the construction project.
