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Buying an apartment or house to renovate: is it a good idea, and under what conditions?
Buying a property to renovate is a unique opportunity, with its own challenges and rewards. Whether you are looking for a city-centre apartment or a characterful house to reinvent, buying a property in need of renovation gives you the opportunity to create a home that truly reflects your style while making a smart investment. Buying a property to renovate can also give you more room to negotiate the purchase price, benefit from financial incentives and, in the long term, increase the value of your property. But turning this opportunity into a successful project requires careful preparation. In this guide, we cover everything you need to know before taking the first step towards buying a property.
The essentials in 30 seconds
Buying a property that needs renovation can give you access to a better location, greater negotiating power and the opportunity to create value, on one condition: you need a reliable estimate of the renovation costs before making an offer.
This guide explains how to assess renovation work during a property viewing, how to use this estimate as part of your negotiation strategy, and what to check before signing. At Maison Kyka, the technical assessment and renovation cost estimate are an integral part of our property search service.
The benefits of buying a property to renovate
Buying an apartment or house and carrying out renovations offers several advantages. It allows you to:
- secure a great location
- negotiate a lower sale price
- customize the interior exactly as you wish
- to increase property value and generate a profit upon resale
Access a better location
If you are looking for a prime city-centre location or a particularly attractive rental investment, buying a property that needs renovation can be a smart choice. Newer properties, which are often built further from city centres, cannot always offer the same character or convenience as a well-located period property.
Location is even more important if you are buying a property to rent out. Older properties often benefit from easy access to public transport, shops and other everyday amenities. For young professionals and older residents alike, particularly those who prefer not to rely on a car, a renovated property in a central location can be especially attractive.
Benefit from a lower purchase price
Because they require renovation work, older properties are often listed at more accessible prices than new or recently renovated homes. The difference can be significant, sometimes 10 to 20 % lower, or even more when extensive renovation work is required.
Notary fees on older properties are higher than on new-build properties in France, typically around 7 to 8% compared with 2 to 3%. However, renovation costs are not included in the amount used to calculate notary fees, which can result in meaningful savings on the overall cost of your property project.
Design the interior around your lifestyle
Buying a property to renovate gives you considerable freedom to transform the space and create a home that genuinely reflects who you are. Each room can be designed around your tastes, needs and lifestyle, rather than simply reproducing conventional layouts.
The result is a home that feels entirely your own: a comfortable retreat at the end of the day and a place you are proud to share with family and friends.
The aim of any renovation is to reveal the property's full potential, while striking the right balance between originality and practicality.
If you are looking for inspiration or expert guidance, Maison Kyka can help. Our interior design studio works with you to create a unique space that reflects your tastes and lifestyle, while bringing the creative vision and distinctive details that make all the difference.
Increase the property's value
Renovation work can significantly increase the appeal of your property. Unlike a new-build home, a property in need of renovation offers considerable potential for value creation, which can result in an attractive capital gain if you decide to sell in the future.
Improving the property's DPE energy performance rating can be particularly worthwhile, as energy efficiency has an increasingly significant impact on property value.
If you are considering a rental investment, buying a property to renovate can also offer greater flexibility than investing in a new-build property. With an older property, you generally have more freedom when setting the rent, except in areas subject to rent controls, including Paris, Lyon and Marseille, among others. Even with these restrictions, a well-renovated property can remain more attractive to tenants and offer strong long-term investment potential.
With Maison Kyka, you are supported by property and renovation professionals at every stage of your project:
- Property search : our project managers help you find and negotiate the sale price of your dream property,
- Interior design : our interior design studio helps you determine the most worthwhile renovations to carry out,
- Renovation work : the launch and monitoring of the renovation are handled by one of our project managers,
- Furnishing : we help you find and install the furniture best suited to your project,
- Resale : if you decide to sell your property, we are best placed to help you maximize your capital gain. From photos and listing ads to viewings, Maison Kyka takes care of everything.
"My experience with this team was exceptional. My architect perfectly understood my expectations and the project team was always attentive. My project was delivered on time and the final result is fantastic. I am very satisfied with the service received." Lyrod L.
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How to estimate renovation costs before buying a property
Four key sources can help you estimate the renovation work required before buying a property.
First, the mandatory property surveys and assessments, which provide valuable information about the actual condition of the building and its systems:
- electricity
- gas
- asbestos
- lead
- DPE energy performance rating
Next, a technical property inspection, covering:
- floors
- walls
- windows and joinery
- visible plumbing
- electrical panel
- signs of damp or moisture
Average renovation costs can provide a useful initial benchmark for your budget: €500 to €900 per m² for light refurbishment, €1,200 to €2,000 per m² for a complete renovation, and at least €2,000 per m² for a high-end renovation.
However, the only estimate you should truly rely on is a detailed quote from a professional, based on an on-site assessment before you make an offer. When buying an older property, it is also advisable to allow an additional 10 to 15 % of your renovation budget for unexpected costs.
Negotiate the purchase price based on renovation costs
A detailed renovation estimate can change the course of a negotiation. It replaces a general impression, such as "the property needs work", with a concrete figure.
The discount negotiated on the purchase price will rarely cover the full cost of the renovation. For a property that has been accurately priced, it typically represents between one-third and half of the estimated renovation costs.
The strongest arguments when negotiating include unfavourable property surveys, essential work required to bring the property up to current standards, and an F or G energy performance rating that prevents, or will soon prevent, the property from being rented out.
While an F rating is currently the minimum permitted for rental properties in mainland France, properties rated F will no longer be eligible for rental from 2028. Properties rated E will follow from 2034. Think long term and factor these upcoming requirements into your property purchase and renovation plans from the outset.
What to check before signing
Buying a property that requires renovation is an increasingly popular choice. However, if the work is not properly anticipated, the project can quickly become stressful, with unexpected financial and technical issues. Before you buy and renovate an apartment or house, make sure you check the following:
- Property surveys, line by line: asbestos and lead can affect both the cost and progress of the renovation, while a non-compliant electrical installation may need to be fully replaced.
- The DPE energy performance rating: a G-rated property can no longer be rented out in France since 2025, and the same restriction will apply to F-rated properties from 2028. This can provide leverage during negotiations and should also be factored into your renovation budget.
- The structure: load-bearing walls, floors and cracks should all be carefully assessed, particularly if you are planning to create new openings or alter the layout.
- The co-ownership: review the minutes of the last three general meetings, any work approved or planned for communal areas, and the building's rules regarding renovation hours.
- Required permissions: depending on the project, you may need prior planning permission, approval from the co-owners' general meeting for work affecting communal areas or the building structure, or additional authorisation if the property is located in a protected area.
Our property viewing checklist covers each of these points in the order you should review them during a viewing.
I just purchased my second property and Maison Kyka handled everything from A to Z. From the initial search to the renovation work, the architect managed to capture my vision exactly as I had imagined it, only better! Thanks again, I highly recommend them! Adrien B.
Financial support available for renovation work
Several financial schemes are available in France to help reduce the cost of buying and renovating an apartment or house, including:
- the Prêt à Taux Zéro (PTZ) for first-time buyers
- the Éco-Prêt à Taux Zéro (Éco-PTZ)
- the prêt conventionné, a regulated home loan
- MaPrimeRénov’
The PTZ for first-time buyers
The Prêt à Taux Zéro (PTZ) is a French government-backed interest-free loan designed to help eligible households buy their first property. It can be used to finance up to 40 % of the property purchase and renovation costs, with no interest to pay, provided that the renovation work represents at least 25 % of the total purchase cost.
The PTZ can cover a wide range of improvements, including:
- thermal and acoustic insulation
- energy-efficiency improvements
- interior layout alterations
- accessibility improvements
It can therefore be a valuable way to transform an older property into a comfortable, modern home while reducing the financial burden of the project. The loan can be repaid over a period of up to 25 years and can be combined with other forms of financing.
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Éco-Prêt à Taux Zéro (Éco-PTZ)
Unlike the PTZ, the Éco-Prêt à Taux Zéro (Éco-PTZ) is available to a wider range of applicants, including both owner-occupiers and landlords.
This interest-free loan is designed to finance energy-efficiency improvements to primary residences. Eligible work includes roof and external wall insulation, window replacement and heating system upgrades.
Depending on the scope of the work, the loan can range from €10,000 to €30,000, with a repayment period of up to 15 years. To qualify, the renovation work must be carried out by an RGE-certified company (Reconnu Garant de l'Environnement).
Prêt Conventionné
The prêt conventionné, a regulated home loan, is another financing option for buyers purchasing a property that requires renovation. It can cover up to 100 % of the cost of the project, including renovation work, with repayment periods ranging from 5 to 35 years. There are no income requirements, making it accessible to a broad range of buyers.
A wide variety of renovation work can be financed through a prêt conventionné, from energy-efficiency improvements and interior alterations to extending the property.
The loan can also be combined with other financial schemes, including the PTZ and Éco-PTZ. Its main advantages are its flexibility and the absence of income restrictions. However, it is important to compare offers from different lenders before making a decision.
MaPrimeRénov’
Since 2021, the former French energy transition tax credit (CITE) has been replaced by MaPrimeRénov’, a government scheme designed to make energy renovation work more accessible to property owners, whether they live in the property themselves or rent it out.
The scheme can help finance improvements such as insulation, ventilation and the replacement of outdated heating systems.
The amount of financial support available depends on the applicant's income and the expected improvement in the property's energy performance. This can make more extensive and costly energy renovation projects easier to finance. However, certain spending limits and eligibility requirements apply and should be considered when planning the work.
Other grants and financing schemes may also be available to help fund the renovation of a house or apartment, depending on your circumstances and the nature of your project.
Examples of properties renovated by Maison Kyka
Laurène and Romain's 94 m² Haussmannian apartment in Paris's 9th arrondissement
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In Paris's Rochechouart neighbourhood, Laurène and Romain purchased a typical 94 m² Haussmannian apartment. Originally divided into a series of enclosed rooms, with a traditional layout that kept the kitchen separate from the heart of the home, the apartment required a complete redesign to adapt it to a more contemporary lifestyle.
Original features such as mouldings and fireplaces were carefully preserved and enhanced with contemporary touches, creating a harmonious balance between past and present.
Mada's 36 m² apartment in Paris's 15th arrondissement
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In Mada's period apartment, Maison Kyka's interior design studio transformed the existing space by celebrating the property's raw materials and replacing the original flooring with beautiful solid wood parquet laid in a Hungarian point pattern.
The entire apartment was redesigned around a vision combining contemporary style with bold pops of colour.
Frequently asked questions
Looking to buy a property to renovate in Paris or the Greater Paris area, but not sure where to start? Maison Kyka offers personalised support and a distinctive approach to help you find, design and create your future home.
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