As a homeowner, your home is filled with memories. Although its sentimental value is strong, it is often necessary to renovate it before putting it up for sale in order to increase its attractiveness on the market. The less work there is to be done, the more the future buyer will envision themselves living in your home. It is also an opportunity to trigger impulse buying, and thus obtain better purchase offers. However, the current context and the rise in the price of raw materials in the construction sector may lead you to reconsider your projects.

The Cost of Work on the Rise

Do you want to renovate your house or apartment before selling it, but you don't know which projects need to be done first? STATEC has conducted a survey on the evolution of construction prices in Luxembourg. It's a safe bet that you made a choice among your renovation projects in view of the results of this survey.

The health crisis has played a big role in price increase in Luxembourg as well as worldwide. Indeed, the temporary closure of many production chains and the disorganization of supply chains in the sector have reduced supply, while the recovery plans put in place by governments have generated a strong recovery in demand. Resulting in an increase in prices and delivery times of raw materials on construction sites.

The rise in prices in the construction sector has amounted to more than 9.4% in Luxembourg in a single year (October 2020 - October 2021). The field of insulation and roofing is the most impacted, with more than 15.8% increase over the same period. Technical installations (heating, electrical network) and finishing works respectively recorded +7.4% and +8.4%.

Check out the STATEC survey

Priority Works

Some renovations will be more useful to you for resale than others, some will even be essential so as not to discourage future owners such as:

• Checking and upgrading the technical installations of your home up to standard, such as the heating system or the electrical grid,
• The energy insulation must also be carefully inspected in order to identify any areas causing energy loss,
• Some aesthetic renovations: restoring wooden floors or stairs, repainting the walls, etc. Also remember to refresh your exteriors if your home has them: it is still the first thing your future visitors will come in contact with.

To have a complete and personalized diagnosis of the extent of the renovations to be carried out, do not neglect the quotation stage and take the time to compare the offers from several professionals who will be able to provide you with the solutions adapted to your budget.

State Aid

To remedy the continuous rise in prices in the construction industry, the Luxembourg government has created various aids offered to owners wishing to renovate their homes. We can take as an example the PRIMe House, which has been extended until 2025 and capped at €46,000, for the energy renovation of your home and the installation of equipment to improve its energy efficiency.

Need help with your energy renovation project? Visit the Enovos website