Often the overhaul of a single-family or terraced house is a major project that is time-consuming and costly. The older a property gets, the more urgent – and usually more expensive – the renovation becomes. It’s good that you can save money on renovating some areas without the resulting suffering.
Prioritize when renovating and save money
Not every renovation is equally urgent. Often the measures can be planned and implemented according to their importance. While a new heating system or energetic insulation should be tackled promptly, purely visual embellishments can sometimes wait. Because the costs you save on heating pay off immediately after completion, you can save money when renovating with clever prioritization.
Use subsidies for renovation
The state supports the project for many renovations, especially when it comes to energy-related renovation measures. The Reconstruction Loan Corporation ( KfW ) or the Federal Office of Economics and Export Control ( BAFA ) provides information on suitable funding programs. But the federal states, cities, and municipalities also offer various subsidies. Usually, an energetic consultation with an expert is necessary for advancement. Subsequently, the funding can be applied for.
Make targeted use of your work and save money
Owners who have manual skills can save money by doing their own thing when renovating. This involves, for example, painting the walls or laying the floor. After planning and consultation with the craftsmen, this can be done to hand. This means that owners can save expensive tradesmen’s bills when renovating.
Note: When it comes to the “muscle mortgage,” it is important to have professional management and the correct assessment of your abilities. Anyone who makes mistakes can delay the project, and structural damage to the building can occur in the long term.
Deduct costs for craftsmen from tax
Even if the costs are often expensive for professionals, a portion can be deducted with the next tax return. The best thing about it is that owners can claim up to 20 percent of the craftsman’s costs for renovations.
Recycle instead of discard
To save money when renovating or refurbishing, a repair is sometimes enough instead of an expensive new purchase. If the entire heating system is to be replaced, that is of course not possible – under certain circumstances, it can be for the front door. If it is energetically overhauled and also made burglar-proof, a repair saves money.