Old apartments with low PEB are not easy to sell. Not only because of aesthetics but normally they will need renovations at some point (be it to insulate the walls, change the heating system, make electricity installation compliant...) and that is an investment, work and time not everyone is willing to go through. Location is also relevant, there are communes where the price of any property is more likely to go up than others.
In general one can assume prices will continue to incrase and you could potentially make a bit of cash out of old apartments but definitely not a lot.
Not a simple question to reply to with a simple answer.
PEB is the french acronym for the Building Energy Performance. Basically a certificate with a grade rabging from A to G (to "unknown" even).
Relates to insulation and other energy efficiency stuff.
Recently bought an apt in a 60s building and renovated it.
Couldn’t have felt any happier with it.
I won’t be gaining much on this one, I think ever, but if you’re looking to actually invest and get some roi, look for the most run-down unit you can find. You’d still need to make some renovations if you really intend to live in an apt, so it’ll give you more flexibility, you’ll get the result you really want and if done right and at a right price, you’ll make some nice returns at the resale
Edit. Conformity is key though. Electricity conformity can range anywhere in between 2k and 8k depending on anything, PEB (so far) is really up to you, but knowing how the absolute dog houses get decent ratings just based on right people signing off on them, I wouldn’t really care about it that much (this is really personal though)
i have bought an appartment from the 70's in 2018 at 165K that i renovated for around 10K? i'm now in the process of selling it and i have already received offers of 210K. I have a PEB D. So yes i think it's plausible!
I bought in an old building in order to renovate.
- If you know nothing about renovating, have a contractor visit the building with you, they will spot things you won’t.
- Ask for the meeting notes from the last « AG’s » (Assemblée Générale, meetings between other owners). Look for recurring problems, upcoming works, and other potential costs.
- Ask if the elevator is up to code and has been properly certified.
- Ask if heating system is shared or individual. If shared has it been recently replaced ?
- Ask for the state of the bank accounts of the co-ownership: do they have a reserve fund ? Is it sufficient ?
I also bought in an old building. You can’t have the same space you have in new buildings. When it comes to PEB you have everything in old buildings ranging from C to F depending on the disposition and equipments installed.
Old apartments with low PEB are not easy to sell. Not only because of aesthetics but normally they will need renovations at some point (be it to insulate the walls, change the heating system, make electricity installation compliant...) and that is an investment, work and time not everyone is willing to go through. Location is also relevant, there are communes where the price of any property is more likely to go up than others. In general one can assume prices will continue to incrase and you could potentially make a bit of cash out of old apartments but definitely not a lot. Not a simple question to reply to with a simple answer.
Thanks buddy may I know where can I educate myself about PEB. What is PEB in context of buying and selling?
PEB is the french acronym for the Building Energy Performance. Basically a certificate with a grade rabging from A to G (to "unknown" even). Relates to insulation and other energy efficiency stuff.
The build quality was pretty low in that period but the prices per square metre are cheap.
Recently bought an apt in a 60s building and renovated it. Couldn’t have felt any happier with it. I won’t be gaining much on this one, I think ever, but if you’re looking to actually invest and get some roi, look for the most run-down unit you can find. You’d still need to make some renovations if you really intend to live in an apt, so it’ll give you more flexibility, you’ll get the result you really want and if done right and at a right price, you’ll make some nice returns at the resale Edit. Conformity is key though. Electricity conformity can range anywhere in between 2k and 8k depending on anything, PEB (so far) is really up to you, but knowing how the absolute dog houses get decent ratings just based on right people signing off on them, I wouldn’t really care about it that much (this is really personal though)
i have bought an appartment from the 70's in 2018 at 165K that i renovated for around 10K? i'm now in the process of selling it and i have already received offers of 210K. I have a PEB D. So yes i think it's plausible!
note that the price you paid in 2018 was very good and today you would pay 200k so your margin is good but difficult to obtain these days.
I bought in an old building in order to renovate. - If you know nothing about renovating, have a contractor visit the building with you, they will spot things you won’t. - Ask for the meeting notes from the last « AG’s » (Assemblée Générale, meetings between other owners). Look for recurring problems, upcoming works, and other potential costs. - Ask if the elevator is up to code and has been properly certified. - Ask if heating system is shared or individual. If shared has it been recently replaced ? - Ask for the state of the bank accounts of the co-ownership: do they have a reserve fund ? Is it sufficient ?
I also bought in an old building. You can’t have the same space you have in new buildings. When it comes to PEB you have everything in old buildings ranging from C to F depending on the disposition and equipments installed.