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Pros and cons of renovation – what is the bottom line? A study by the “working group for contemporary building” came to the conclusion that the cost of renovating an apartment building from the 1950s was between 990 and 1475 euros per square meter, depending on the effort involved. The costs for the demolition and the subsequent new construction meanwhile amount to 1000 to 1465 euros per square meter of living space. In view of this calculation, it is therefore important to weigh up whether a refurbishment really makes sense.
When determining costs, however, potential subsidies must also be included. Currently, the focus of the federal and state funding programs – above all the KfW funding – is primarily on energy-efficient refurbishment. The so-called existing replacement (replacement new construction) is not taken into account.
The following benchmark may help you make your decision: If the conversion costs are more than 75 percent of the new construction costs, demolition is most likely the better choice. Because the new building costs a little more, but also offers advantages: It is designed completely according to the wishes of the client, so it offers a lot of freedom of design, while you usually have to make compromises with the old building. In addition, old buildings cannot always be completely upgraded in terms of energy, which can have a negative financial impact.
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