The dilemma \u201cnewly built or old house?\u201d concerns almost every prospective property buyer. Everyone is looking for a clear answer, but reality is more complex.<\/p>\n\n
In recent years, the market has shown a clear shift toward older and second-hand properties. Many buyers choose to purchase an old house and renovate it in order to adapt it to modern living needs and to their personal taste. <\/p>\n\n
However:<\/p>\n\n
Are all old houses the same?<\/p>\n\n
How much does a renovation really cost?<\/p>\n\n
How can I tell if it is worth investing in an old property?<\/p>\n\n
What are the main evaluation criteria?<\/p>\n\n
These are the questions we will try to answer.<\/p>\n\n
Not all old houses are the same<\/p>\n\n
The year of construction of a building hides many \u201csecrets.\u201d In Greece, buildings can be divided into basic categories, with the most critical milestones being 1987 and 2017. <\/p>\n\n
In 1986, the seismic regulation changed. This means that buildings constructed after 1987 are generally safer in terms of structural adequacy. This does not mean that older buildings are necessarily \u201cbad,\u201d but they certainly require a technical inspection. <\/p>\n\n
In Alexandroupoli, for example, the seismic coefficient is 1, which means low seismicity. However, the city\u2019s coastal location creates other types of problems, mainly corrosion of building materials due to humidity and sea air. <\/p>\n\n
Can these be dealt with technically? Of course.
What a renovation of an old property usually includes<\/p>\n\n
In older residences, especially those built before 1987, the following are almost always required:<\/p>\n\n
Replacement of electrical and plumbing installations<\/p>\n\n
Upgrade or replacement of the heating system<\/p>\n\n
External thermal insulation and replacement of window frames<\/p>\n\n
Repairs to railings and parapets due to corrosion<\/p>\n\n
Renovation of bathroom and kitchen<\/p>\n\n
Replacement of flooring<\/p>\n\n
Interior and exterior painting and aesthetic interventions<\/p>\n\n
Older houses were designed based on the needs of another era. Changing the layout by demolishing walls creates additional cost. If the existing layout is maintained, this must also be taken into account in the valuation of the property. <\/p>\n\n
Special attention is also needed for central heating systems, which in most buildings before 1987 no longer function.<\/p>\n\n
The \u201chidden\u201d cost that is often ignored<\/p>\n\n
A cost that is often overlooked by private buyers is the cost of demolition and removal of rubble. Today, debris cannot be disposed of in landfills, and its legal management involves significant expense. <\/p>\n\n
What applies to buildings after 1987<\/p>\n\n
Buildings constructed after 1987 \u2013 and especially during the period of intense development in Alexandroupoli (1995\u20132010) \u2013 show clearly improved construction quality.<\/p>\n\n
In these cases, the main interventions are usually limited to:<\/p>\n\n
Energy upgrade (thermal insulation \u2013 waterproofing)<\/p>\n\n
Choice of a modern heating system (LPG or heat pump)<\/p>\n\n
Aesthetic changes<\/p>\n\n
What is the price difference between old and new?<\/p>\n\n
According to a survey by the Public Opinion and Market Research Unit of the University of Macedonia, the price difference between newly built and old apartments now ranges between 25% and 30%.<\/p>\n\n
When an old property is 20% cheaper than a newly built one, 67% of buyers choose the newly built.
Indicative renovation costs (current prices)<\/p>\n\n
Full bathroom renovation:<\/p>\n\n
Labor: ~\u20ac4,000<\/p>\n\n
Materials: \u20ac2,000\u20132,500 (depending on choices)<\/p>\n\n
Complete electrical installation: ~\u20ac3,500 (without sockets)<\/p>\n\n
External thermal insulation: \u20ac40\u201350 \/ m\u00b2<\/p>\n\n
Interior painting: ~\u20ac3.5 \/ m\u00b2<\/p>\n\n
Exterior painting: ~\u20ac8 \/ m\u00b2 (without scaffolding)<\/p>\n\n
Heating:<\/p>\n\n
Natural gas with radiators: \u20ac7,000\u20137,500 (3-bedroom apartment)<\/p>\n\n
Heat pump: ~\u20ac10,000<\/p>\n\n
Major renovation: from \u20ac500 \/ m\u00b2 and above, depending on materials and choices<\/p>\n\n
Conclusion<\/p>\n\n
Today, old properties built after 1995 that do not need renovation are offered at 30%\u201340% lower prices than newly built ones.
The right choice is not a matter of age, but of correct assessment of cost and value.<\/p>\n\n
domima-axd is by your side for reliable property valuation and technical support for renovation, should it be required.
The dilemma \u201cnewly built or old house?\u201d concerns almost every prospective property buyer. Everyone is looking for a clear answer, but reality is more complex. In recent years, the market has shown a clear shift toward older and second-hand properties. Many buyers choose to purchase an old house and renovate it in order to adapt […]<\/p>\n","protected":false},"author":2,"featured_media":4139,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/domima-axd.com\/en\/wp-json\/wp\/v2\/posts\/4141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/domima-axd.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/domima-axd.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/domima-axd.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/domima-axd.com\/en\/wp-json\/wp\/v2\/comments?post=4141"}],"version-history":[{"count":1,"href":"https:\/\/domima-axd.com\/en\/wp-json\/wp\/v2\/posts\/4141\/revisions"}],"predecessor-version":[{"id":4142,"href":"https:\/\/domima-axd.com\/en\/wp-json\/wp\/v2\/posts\/4141\/revisions\/4142"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/domima-axd.com\/en\/wp-json\/wp\/v2\/media\/4139"}],"wp:attachment":[{"href":"https:\/\/domima-axd.com\/en\/wp-json\/wp\/v2\/media?parent=4141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/domima-axd.com\/en\/wp-json\/wp\/v2\/categories?post=4141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/domima-axd.com\/en\/wp-json\/wp\/v2\/tags?post=4141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}