Renovating A Property In Ireland: A Practical Guide

Published on and written by Cyril Jarnias

Ireland, with its lush green landscapes and rich architectural heritage, offers numerous opportunities to renovate properties and increase their value. Whether you own a charming countryside home or an urban apartment, renovation can prove to be a wise investment in the Irish real estate market. In this article, we will explore the key steps, financial aspects, and material choices to successfully complete your renovation project in Ireland.

Increasing Your Property Value: An Asset in the Irish Market

Renovating a property in Ireland can significantly increase its value in the real estate market. Indeed, the country experiences high demand for housing, particularly in major cities like Dublin, Cork, or Galway. A well-planned renovation can not only improve the comfort and aesthetics of your property but also make it more attractive to potential buyers or tenants.

According to recent data from the Irish real estate market, renovated properties sell for an average of 15% to 20% more than similar unrenovated properties. Moreover, energy-efficient homes are particularly sought after, with a premium that can reach up to 25% compared to less energy-efficient homes.

Investing in renovation can therefore prove to be a winning strategy, whether to live in the property, rent it out, or eventually sell it. However, it is crucial to plan your project well to maximize return on investment.

From Design to Completion: Key Steps of Your Renovation Project

Renovating a property in Ireland requires a methodical and well-planned approach. Here are the main steps to follow to successfully complete your project:

  • Initial Assessment: Start by conducting a full assessment of your property. Identify priority work and those that will add the most value.
  • Design and Planning: Develop a detailed plan for your renovations. If necessary, hire an architect or interior designer to optimize space and create a coherent design.
  • Obtaining Permissions: Check with local authorities if your work requires planning permission. In Ireland, some minor renovations may be exempt, but it’s always best to inquire beforehand.
  • Selecting Professionals: Choose qualified and experienced contractors. In Ireland, it is recommended to hire artisans registered with recognized organizations like the Construction Industry Federation (CIF).
  • Execution of Work: Supervise the progress of the site and ensure that the work complies with current Irish standards, particularly regarding insulation and energy performance.
  • Finishes and Decoration: Once the major structural work is completed, move on to finishes and decoration to bring your project to life.

It is important to note that the average duration of a renovation project in Ireland generally ranges between 3 and 6 months, depending on the scope of work. Good planning and effective communication with your contractors can help meet deadlines and the set budget.

Good to Know:

In Ireland, there are tax incentives for certain types of renovations, particularly those aimed at improving the building’s energy efficiency. Inquire with the Sustainable Energy Authority of Ireland (SEAI) to learn about available assistance.

Financing Your Project: Budget and Funding Options in Ireland

Financing is a crucial aspect of any renovation project. In Ireland, several options are available to fund your work:

  • Personal Loan: Irish banks offer personal loans specifically dedicated to renovation work. Interest rates generally range between 6% and 12% depending on your profile and the amount borrowed.
  • Mortgage Loan: If you are already a homeowner, you might consider refinancing your mortgage to include the cost of renovations. This option can offer more favorable rates, around 3% to 5%.
  • Government Grants: Ireland offers several renovation assistance programs, particularly for improving energy efficiency. For example, the Better Energy Homes Scheme provides grants of up to €6,000 for insulation and installation of more efficient heating systems.

On average, the cost of a full renovation in Ireland ranges between €1,000 and €2,000 per square meter, depending on the scope of work and the quality of finishes chosen. It is recommended to allow an additional 10% to 15% margin to handle unforeseen expenses.

Here is an example budget for renovating a 100 m² house in Ireland:

  • Structural Work: €50,000 – €70,000
  • Plumbing and Electrical: €15,000 – €25,000
  • Insulation and Joinery: €20,000 – €30,000
  • Finishes and Decoration: €15,000 – €25,000
  • Total Estimated: €100,000 – €150,000

It is crucial to establish a detailed budget and track it rigorously throughout the project to avoid cost overruns.

Good to Know:

In Ireland, it is common to pay contractors in installments, as the work progresses. Make sure to clearly define payment terms in your contract.

Materials and Trends: Making the Right Choices for a Successful Renovation

The choice of materials is essential to ensure the quality and durability of your renovation. In Ireland, certain trends are emerging:

  • High-Performance Insulation: Given the Irish climate, good insulation is crucial. Materials like rock wool or polyurethane foam are very popular for their thermal efficiency.
  • Double or Triple Glazed Windows: They significantly reduce heat loss and improve acoustic comfort.
  • Eco-Friendly Heating Systems: Heat pumps and condensing boilers are gaining popularity for their energy efficiency.
  • Sustainable Materials: The use of FSC-certified wood, eco-friendly paints, and recycled materials is increasingly favored in Ireland.
  • Authentic Finishes: To preserve the charm of traditional Irish properties, materials like natural stone, solid wood, or terracotta tiles are often preferred.

It is important to choose materials suited to the Irish climate, resistant to humidity and temperature variations. Do not hesitate to consult local professionals to guide you in your choices.

Good to Know:

In Ireland, construction materials must comply with European standards (CE marking) and national regulations. Ensure that your suppliers adhere to these standards.

Renovating a property in Ireland represents an excellent opportunity to increase your property’s value while improving your quality of life. By following the key steps, establishing a realistic budget, and choosing quality materials, you can transform your property into a true gem in the Irish real estate market.

Remember that every renovation project is unique and requires a personalized approach. Do not hesitate to surround yourself with experienced professionals to guide you in this exciting adventure.

Disclaimer: The information provided on this website is for informational purposes only and does not constitute financial, legal, or professional advice. We encourage you to consult qualified experts before making any investment, real estate, or expatriation decisions. Although we strive to maintain up-to-date and accurate information, we do not guarantee the completeness, accuracy, or timeliness of the proposed content. As investment and expatriation involve risks, we disclaim any liability for potential losses or damages arising from the use of this site. Your use of this site confirms your acceptance of these terms and your understanding of the associated risks.

About the author
Cyril Jarnias

Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.

On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.

Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.

Find me on social media:
  • LinkedIn
  • Twitter
  • YouTube