Current home modernization costs: What costs you should currently expect

Many property owners want to be informed about the amount of modernization costs. Nowadays, home modernizations are no longer a rarity. Although it is about increasing the value of an existing house, improving a newly acquired property that is in need of renovation, upgrading its energy efficiency, or simply realizing the dream of modern living space – the reasons for a home modernization can be manifold. In any case, such a measure always entails a financial outlay.

In this article, we will show you what costs you should expect if you have decided to modernize a property or are perhaps even about to acquire a property that requires modernization. Especially if you are purchasing a house in need of renovation, take the time to look into this topic more closely. Clarifying the potential costs in advance can help you manage your finances effectively and ensure that you can get the most out of your home. Read on and find out what to expect with your planned house modernization.

Take price trends into account when planning your modernization

It is important to understand that the prices we mention are to be understood as broad, non-binding guidelines that include all aspects, such as installation costs and value-added tax. In general, however, the actual costs always depend on several factors. Differences in the construction method of the house, regional price differences, and individual implementation details Your modernization projects can lead to costs varying considerably.

Furthermore, the current economic uncertainty due to substantial global disruptions affecting both production and supply chains—a factor you should have on your radar. This could lead to potential price increases in the coming months. It is challenging to make exact predictions as economic conditions are constantly changing and thereby having potential impacts on our estimates.

It is therefore always advisable to plan a certain margin into your budget in order to be prepared for unexpected cost changes and still be able to put your modernization plans into action. Stay flexible and regularly inform yourself about current price developments in order to adjust your cost planning.

Roofing options and their costs

When it comes to roofing, there are various materials to choose from, which differ in their costs and properties. Budget-friendly options include concrete roof tiles, bitumen shingles, or steel tiles – these offer solid quality at an affordable price point. Clay tiles, on the other hand, are a more expensive alternative, with costs varying considerably depending on the shape of the tile and the chosen type of installation. For enthusiasts of regional roof types, such as slate or thatched roofs, it should be noted that these options are generally more costly. The lifespan of a roof covering is typically between 30 and 40 years, which shows that investing in a high-quality roofing material can be advantageous in the long run. Furthermore, when planning your costs, you should consider the ratio of material to labor costs. On average, about 30 percent of the costs are attributable to materials and 70 percent to labor. However, this is a guideline and can vary depending on the individual project and the chosen materials.

Costs and options for roof insulation

The costs for roof insulation depend on various factors, including the material used, the insulation thickness, the roof shape, and the chosen insulation method. An expensive but efficient solution is above-rafter insulation, which is particularly useful if the roof cladding is being renewed at the same time. Alternative options are between-rafter or under-rafter insulation. The lifespan of roof insulation is between 20 and 40 years. The ratio of material to labor costs is approximately 20/80 percent, although these values depend heavily on the specific conditions of the project. The cost per square meter for a U-value of 0.2 is approximately:

• 60 EUR for interior insulation without cladding
• 100 EUR for interior insulation with cladding
• 200 to 300 EUR for above-rafter insulation

Please note that these prices are only guidelines and may vary depending on individual factors.

Options and costs in attic conversion projects

Converting an attic can create significant added value by transforming unused space into livable areas. However, the actual costs vary greatly depending on the planned use and the current condition of the attic.

Some essential measures that may be required for a loft conversion include insulation and cladding, electrical and heating installations, and the installation of new windows. Roof windows offer a cost-effective solution, while dormers are more expensive, but create more space and headroom. If a bathroom is to be integrated into the attic, the expenses will increase accordingly.

The lifespan of a converted attic, similar to that of roofing, is between 30 and 40 years. The ratio of material to labor costs depends on the scope and complexity of the individual trades.

As a rough guide for the costs, depending on the type of renovation, €600 per square meter of living space should be budgeted for pure interior work and up to €1,200 per square meter of living space for a comprehensive complete renovation. However, please bear in mind that these values can vary depending on the individual project and local conditions.

Facade insulation: options and costs

An effective method for thermal insulation on the facade is exterior insulation. A common and generally cost-efficient system is the external thermal insulation composite system (ETICS), where the insulation is applied directly to the wall and plastered or clad. Higher-quality alternatives are curtain wall facades with insulation and cladding made of materials such as wood, slate, or metal, which are, however, more expensive. Facade insulation has a lifespan of about 40 years. The ratio of material to labor costs is approximately 20/80 percent, although this depends on the chosen system and individual project details. The costs per square meter are approximately:

• 100 to 200 EUR for an ETICS

Additional costs may arise for scaffolding the site, working on reveals, window connections, roof overhangs, or the base masonry. Please note that the quoted prices are only guide values and may vary depending on the project and local conditions.

Interior insulation of exterior walls: Options and costs

The price for interior insulation of exterior walls can vary greatly depending on the choice of material. Common and generally more cost-effective materials are mineral wool and polyurethane. If you value sustainable alternatives, eco-insulation materials such as wool and flax offer a more environmentally friendly, albeit more expensive option. Professional installation of interior insulation includes not only the installation of the insulation material, but also the application of a vapor retarder and cladding with tongue-and-groove boards or plasterboard. The lifespan of such interior insulation is about 30 years. The ratio of material to labor costs is generally around 20/80 percent, but can vary depending on specific project details. Regarding the cost per square meter, you can expect the following guideline values:

• 60 to 200 EUR for interior insulation

These values are only guidelines, as the actual amount can vary greatly depending on the material and local conditions.

Exterior painting: material options and costs

Choosing the right paint for an exterior facade can have a strong impact on costs and durability. While white lime paint or plastic dispersion paint are among the most affordable options, the more resilient and expensive silicate or siloxane products are recommended to achieve a longer-lasting effect. It should be noted that the facade must be carefully inspected before painting. Any loose or damaged plaster should be repaired, which can incur additional costs.

An exterior paint job typically has a lifespan of 5 to 10 years. The ratio of material to labor costs is often around 20/80 percent, but can vary depending on the condition of the facade and the chosen paint.

Regarding the cost per square meter, you can expect the following guideline figures:

• Starting from around 40 EUR for the exterior paint job

Please note that these details are only guidelines and may change depending on the exact requirements and circumstances of your project.

Basement ceiling insulation: factors and costs

The selection and implementation of measures for basement ceiling insulation depend on various factors. These include the chosen insulation material, the thickness of the insulation layer, and the room layout in the basement area. Depending on these factors, different insulation methods and materials can be used to ensure effective thermal insulation. Due to the different materials and circumstances, no general statements can be made regarding the lifespan of basement ceiling insulation. The ratio of material costs to labor costs is generally around 20/80 percent, but can vary depending on the chosen insulation material and individual project requirements. Regarding the cost per square meter, you can roughly expect the following values:

• 60 to 100 EUR for the basement ceiling insulation

It is important to note that this information serves only as a guide and may vary depending on the specific requirements of your project and local conditions.

Heating system: Options and costs

The selection of a suitable heating system is an important aspect of the energy-related renovation of any house. While a condensing gas heating system may be more cost-effective, due to future legal requirements, this option may no longer be feasible starting in 2024. Alternatives that are also suitable for older buildings include a wood pellet heating system or a heat pump. Should you decide to continue operating your existing heating system, replacing the circulation pump with an efficiency-enhancing model could be worthwhile. The average lifespan of heating systems is around 15 years. The ratio of material to labor costs is roughly balanced at 50/50 percent. The following cost overview gives you a rough idea of the potential prices for the various heating options in a single-family home with approx. 140 square meters of living space:

• Gas condensing boiler: 9,000 to 13,000 EUR
• Air source heat pump: EUR 25,000
• Geothermal heat pump (with ground collectors): EUR 40,000
• Wood pellets (including storage container, conveyor system, storage facility): 35,000 EUR

Additional costs may apply for:

• New domestic hot water storage tank: starting at approximately 2,000 EUR
• High-efficiency pump: from 350 EUR including installation
• New radiators: starting at around 400 EUR including installation

The stated values serve as guidelines and may vary individually. Please note that these approximate costs depend on the scope of your project and regional conditions.

Contact us – we are always available

CONTACT US

Installation of a solar thermal system: factors and costs

The installation of a solar thermal system that combines solar collectors with a modern boiler can significantly reduce the costs for gas, oil, or other energy sources. The total costs for such a system vary and depend on various factors. The type of collectors, the size of the collector surface area, the storage volume of the system, and its performance play a decisive role here. An important aspect when deciding on a solar thermal system is determining its intended use: Should the system be used exclusively for hot water generation, or are you planning to use it for heating support as well? As a rule, solar thermal systems are assumed to have a lifespan of 20 years. There is also a guideline regarding the cost expenditure for material and labor. On average, material costs account for 40 percent and labor for 60 percent. To estimate the costs for different types of solar collectors, the following overview provides benchmark values:

• Price per m² of collector area for flat-plate collectors: from about 800 EUR
• Price per m² of collector area for tube collectors: around 1,500 EUR

It is important to note that these figures serve merely as a rough guideline and may vary depending on the specific requirements of your project and any potential regional price fluctuations.

Electrical installation: options, lifespan, and costs

Nowadays, when reinstalling electrical wiring, it is not strictly necessary to chisel open walls. Alternatively, prefabricated installations offer the option of laying cables in skirting boards or ceiling profiles. A special and more complex option is the installation of a bus system, which is required for intelligent home automation.

An electrical system typically has a lifespan of about 30 years. Regarding the cost distribution between materials and labor, the material cost share is about 20 percent, while the labor effort accounts for the majority share of 80 percent.

The average price for electrical installations per square meter (sqm) of living space can be estimated as follows:

• 120 to 170 EUR including installation of switches and sockets

Please note that these figures are based on average values and may vary depending on the design and individual requirements.

Window selection and installation: factors, lifespan, and costs

The costs for window selection and installation vary depending on various factors such as the number, type, and size of the chosen windows, as well as the type of glazing. In cases where the window frames are still usable, cost savings might be achieved by simply replacing the glazing instead of the entire window.

The life expectancy of windows is typically about 30 years. Regarding the ratio of material to labor costs, you could expect about 30 % of the total cost to be for materials and 70 % for labor.

The cost of a single window depends heavily on the chosen material and the size. Here are some average costs for comparison:

• For a standard window (1.23 x 1.48 meters) with triple glazing:
• Plastic: approx. 760 EUR
• Wood-aluminum: up to 1,300 EUR

Please note that these prices are for guidance only and actual costs may vary depending on the provider, region, and specific installation requirements.

Door Modernization: Factors, Lifespan, and Costs

The modernization costs of doors vary depending on the material, workmanship, thermal insulation, and burglar resistance. For interior doors, the material and workmanship are the primary decisive factors, while for front doors, thermal insulation and burglar resistance also play a role.

The lifespan of doors is typically around 30 years. Regarding the ratio of material to labor costs, the following guideline values can be provided:

• Front door: approx. 40 % material costs and 60 % labor costs
• Interior doors: approx. 30 % material costs and 70 % labor costs

The average costs for different doors including installation are:

• Interior door with frame: approx. 200 to 700 EUR
• Exterior door: 2,000 to 8,000 EUR

Please note that these figures serve as guidelines and actual costs may vary depending on the provider, region, and individual requirements.

Cost of bathroom modernization: material and labor costs

When modernizing a bathroom, there are various options, ranging from a standard finish to luxury fittings. The most cost-effective version includes replacing the tiles, bathroom furniture, a new shower or bathtub, as well as minor remodeling work. The most expensive option would be a complete renovation with high-end brand products and custom design.

The lifespan of a modernized bathroom is between 15 and 25 years. Regarding the ratio of material to labor costs, about 40 % accounts for material costs and 60 % for labor costs.

The average cost per square meter (m²) for modernization varies depending on the level of DIY work and whether the work is performed by a professional:

• 1,000 to 3,500 EUR per m² with DIY work
• 3,000 to 5,000 EUR per m² for a complete bathroom modernization as a professional service

It should be noted that these costs serve as a guide and depend on the provider, the region, and individual preferences and requirements.

Floor modernization: Material selection, lifespan, and cost expenditure

In addition to choosing the new flooring material such as laminate, parquet, tiles, stone slabs, carpet, etc., you should also consider the condition of the existing subfloor and whether an existing old covering needs to be removed. These factors can have a significant impact on the time required and the costs of the modernization. The expected lifespan of flooring is generally between 15 and 30 years. The ratio between material and labor costs varies depending on the type of flooring material chosen. The average costs per square meter, including material and installation, for various types of flooring are:

• RRP: 40 to 50 EUR
• Wall-to-wall carpet: approx. 40 to 70 EUR
• Wooden floorboards: approx. 80 to 170 EUR

The total cost of modernizing flooring in a house can only be determined individually. The various rooms might require different floor coverings depending on the type of use and individual preferences. Please note that these prices serve as guidelines and actual costs may vary depending on the provider, region, and specific requirements.

Individual financing advice for property owners

At Rogers Real Estate we have a broad network of financing experts and can therefore recommend a competent financial advisor to you if needed. This advisor is independent of banks and therefore offers objective advice based exclusively on your individual needs and financial situation. Our recommended financing advisors specialize in supporting owners in finding the optimal financing solution for their real estate projects. You benefit from tailored advice and gain access to a variety of financing options. This ensures that you find the best financing option for your project.