Renovation or new construction? Keep financial and energetic aspects in mind when buying a house

Renovation or new construction? Keep financial and energetic aspects in mind when buying a house

According to a report from rp-online.de, the real estate market is facing major changes. The era of renting is coming to an end and more and more people want to buy their own home. But the decision as to whether you should renovate an existing property or build a new one depends on many factors.

In large cities there are often no building plots, which is why new buildings are not an option. In the countryside, however, there are hardly any used properties for sale. The decision is therefore influenced by the offer and location. However, renovation can be beneficial, especially thanks to funding programs that are aimed at energy renovation and promote climate protection.

According to the Federal Ministry of Economics, the highest greenhouse gas savings can be achieved through renovations. The federal government has also announced the “Young Buys Old” home ownership program to promote the purchase of existing buildings in need of renovation.

When buying a used property, there are certain renovation obligations that are set out in the Building Energy Act. A renovation roadmap and the support of certified energy consultants are therefore crucial.

The federal government's energy-related new building subsidies are currently not available, but there are other funding programs such as the “Home Ownership for Families” program, which supports parents with underage children in building or buying a property.

Planning and implementing a subsidized new building requires a lot of effort, as sustainable building materials have to be used and this has to be proven. However, a new building offers the opportunity to plan according to individual ideas and to build energy-efficiently.

Overall, the decision between renovation and new construction depends on many factors such as location, offer, funding opportunities and individual ideas and should therefore be carefully thought out.