Von Poll Immobilien: Refurbish existing properties on Upper Lake Zurich or invest in new builds?

Are you interested in buying real estate on Lake Zurich and are asking yourself the essential question of whether the renovation of an existing property is worthwhile or whether the purchase of a new build is the more attractive option? Otherwise, perhaps you have inherited a property with which you associate a high emotional value, but the current condition of the property makes renovation unavoidable, particularly in terms of energy efficiency, and you would like clarity on the cost issue?

We will be happy to advise you in detail and provide you with in-depth insights into the practical experience of our real estate agents so that you can make your final purchase decision or renovation decision on Lake Zurich with a clear conscience. Whether an existing property or a new build - with the support of Von Poll Oberer Zürichsee, you will find the most suitable option for you.

Refurbishment or purchase of a new build: the decisive factors

Before the question of whether the refurbishment of an existing property or the purchase of a new build on Lake Zurich is the more attractive option for you can be clarified, your initial situation must first be assessed. The first question to ask is whether you already own a property - for example through an inheritance - or whether you intend to buy a property on Lake Zurich. While an inherited property is often associated with an emotional value that cannot be replaced by money, the cost-benefit factor can be different than it is for existing properties. For example, emotions can ensure that the preservation of the beloved property takes the highest priority and any renovation costs may be higher. If, on the other hand, the consideration is made on a purely objective level, the purchase of real estate on Lake Zurich is about finding the most cost-effective solution. Simply comparing purchase prices is not enough. It requires a sound analysis of a long-term perspective that takes all eventualities into account. Our real estate agents would like to provide you with a guide below that takes the decisive factors into account.

Where would you like to live in the future? Does the location have a suitable offer?

When it comes to finding your individual dream home, the location is of crucial importance. In times of an increasing shortage of available building land, the first step is to determine which types of property can be purchased in your preferred location. Are there attractive new builds that fit into the budget or are there existing properties that are suitable for renovation?

From the practical experience of our real estate agents on Lake Zurich, we can report that construction projects are currently being hampered by several factors (rising prices for raw materials, shortage of skilled workers, shortage of building land), which is limiting the number of new builds. While the most sought-after locations tend to have existing properties that were completed some time ago, new builds are often found on the outskirts of cities or in the countryside. The first key consideration is therefore: What relevance does the residential location have for your cost-benefit calculation? Is the location so decisive that any additional costs for the renovation of an existing property in poor condition would be accepted, or is the residential location rather secondary, so that the most cost-effective solution is decisive for the decision?

The building fabric of the property determines whether the renovation is worthwhile

While new builds on Lake Zurich usually maintain a modern standard and have an intact building fabric, this cannot be so easily assumed for existing properties. Although new buildings should also be professionally assessed before purchase, a professional appraisal is usually particularly advisable in the case of an existing property purchase. If, for example, the building fabric is in a generally poor condition, making gutting necessary, the expert will recognize this immediately and can advise you not to buy, as the expected renovation costs would probably exceed the purchase price for a new build. In a positive scenario, however, the real estate expert may also determine that the appraised property is in above-average condition, which is why a purchase with subsequent renovation appears lucrative.

Costs & budget for buying a house with renovation on Lake Zurich

Once an attractive property in the desired location has been found, the purchase is a question of the available budget and the expected costs. From the experience of our real estate experts, it can be said that the renovation costs incurred are generally lower than the purchase price for a new build. The decisive factor is above all the extent of the refurbishment required for an existing property, particularly taking into account energy efficiency and compliance with legal regulations.

In order to arrive at a reliable assessment, it is advisable to obtain founded energy advice from a GEAK expert. The GEAK stands for the Building Energy Performance Certificate of the Cantons and outlines the energy status of the property in a clear presentation. Furthermore, the GEAK is based on a standardized calculation that applies to the whole of Switzerland, whereby the verdict of this energy certificate ultimately includes recommendations for renovation measures and distinguishes between the efficiency of the building envelope and the overall energy efficiency.

Expert real estate professionals know exactly about the individuality of each building and can quickly identify any weak points during the assessment and thus identify energy potential: Does the building envelope meet current standards? Is the water heating optimized? And is the electrical consumption in line with an energy-efficient property? The in-depth assessment also includes the identification of potential contamination, such as asbestos, the examination of earthquake safety (apartment buildings) and the fire protection concept.

The final expert report not only provides you with a good overview of the expected renovation costs, it also serves as a basis for applying for possible subsidies from the federal government, canton and municipality.

Existing property or new build? The advantages and disadvantages at a glance

As we have seen, the decision for a certain type of property can be influenced by various factors, which is why a final recommendation must always take into account the individual wishes of the buyer. To make it easier for you to decide whether to buy a property on Lake Zurich, we would like to provide you with an overview that summarizes the advantages and disadvantages of an existing property and a new build.

Advantages of renovating an existing property

• Lower investment costs if the building fabric is in good condition
• Simplified approval procedures and a lower risk of objections
• Garden and plants can be retained
• The charm and soul of the building live on
• Partial renovation possible, property can also be lived in during the renovation

Disadvantages of renovating an existing property

• An expert appraisal by a qualified real estate expert is essential
• Energy efficiency of a new building remains unmatched even after the renovation
• . unmatched
• Complete renovation is usually more expensive than buying a new building
• Existing room structure cannot be changed according to your own wishes
• Higher susceptibility to mold and moisture

Advantages of a new building

• Contemporary & modern: New builds meet current standards
• Energy efficiency, building services and heating systems are at an optimum level
• New builds usually have a higher potential to retain their value

Disadvantages of a new build

• The purchase price of a new build tends to be more expensive
• As the investment costs are taxable in total, they cannot be deducted from taxes
• Time factor: Depending on the (construction) condition of the property, it may not be possible to live in it immediately

Von Poll Immobilien: Our support helps you make the right purchase decision

Would you like to make your purchase decision with the best possible feeling? Then rely on the expertise of our experienced real estate experts. Share your vision with us now and let us know what characterizes the perfect living experience for you so that we can soon find the perfect property for you on Lake Zurich. Contact us now via the following link or reach us by telephone at +41 44 211 60 09 or by email to [email protected]. Our real estate agents are eagerly awaiting your request and look forward to guiding you to real estate purchase success on Lake Zurich soon.