A property rated F or G on the energy performance certificate raises a binary question: renovate to retain the right to rent it out, or sell it as is at a discount.
The answer depends less on the cost of the work than on the difference between the renovation cost and the loss in value accepted at resale. Before requesting even a single quote, you need to consider the current EPC rating, the regulatory timeline for rental bans, and the price per square metre in the area.
EPC ratings and the rental timeline: choosing between renovation and selling as is
Properties rated G are already subject to the rental ban. Properties rated F will follow according to the timeline set out in the Climate and Resilience Act. For landlords, the decision to renovate is therefore not based solely on the potential resale gain, but also on keeping the property available to rent.
An easing of the timeline was under discussion in late 2026, but had not yet come into force. Basing a renovation project on the assumption that regulations will be relaxed is a gamble. It is better to work on the basis of the rules currently in force and treat any delay as a cash-flow bonus.
In a condominium, the situation is more complicated. The individual EPC rating of a unit may differ from the building’s collective rating. A landlord who wants to install external insulation depends on a vote at the general meeting. If the condominium association rejects insulation or heating work, the landlord is left with a property that may be banned from rental, with no immediate way to act.
When the condominium association holds things up and the energy rating makes renting impossible in the short term, selling as is (at a discount) can sometimes be the only rational option. Arranging the work with Immo Web Partner helps define the renovation scope precisely before making this decision.
Energy renovation: what MaPrimeRénov’ still covers
The MaPrimeRénov’ scheme has tightened its eligibility criteria. For single-family homes, a major renovation that retains a gas- or oil-fired heating or hot water system is no longer eligible for the grant. Standalone insulation work is no longer subsidised under the “single measure” pathway, although it may still qualify as part of a major renovation project.
This shift has a direct impact on the budget. A homeowner planning to replace only their windows or insulate their attic without changing the heating system will no longer have access to the most substantial grants. The single-measure pathway, once more flexible, now steers homeowners towards a whole-home renovation that includes replacing the heating system.
Another technical change to factor in: the conversion factor for electricity to primary energy is set to drop from 1.9 to 1.7. This change will mechanically affect the EPC ratings of electrically heated homes. A property rated E today could move up to D without any work, simply through recalculation. Before committing to costly renovations, checking how this new factor will affect the property’s rating can help avoid overspending.
Improvements before selling: which work to prioritise
Not all improvements add the same amount of value. The classic pitfall is renovating to suit your own taste instead of focusing on the features that prompt buyers to make an offer.
Improvements with a strong return on investment
- Thermal insulation (attics, walls) improves the EPC rating and reassures buyers about future energy bills. It has the greatest impact on how buyers perceive the value of an older property.
- Bringing the electrical system up to code removes a common reason for renegotiating the price. An unfavourable electrical inspection report can knock several thousand euros off an offer.
- Refreshing wet rooms (kitchen, bathroom) remains the most powerful emotional selling point. Buyers find it hard to picture their lives in a dated bathroom, even when the building itself is in good condition.
Work to avoid or keep to a minimum
Highly personalised features (custom-built wardrobes, high-end kitchens) rarely translate into a higher sale price. A buyer will not pay extra for a natural stone worktop if they plan to redo the kitchen to suit their own taste.
Focusing the budget on the building envelope and bringing systems up to code rather than on décor delivers a better return at resale. For visible finishes, a refresh (paint, flooring) is enough.
Renovation budget: keeping the project on track
Budget overruns on renovation projects almost always stem from the same issue: an incomplete initial assessment that leads to surprises during the work. Opening up a wall and finding a roof structure damaged by wood-boring insects can turn a refresh budget into a major renovation budget.
We recommend setting aside a contingency fund that represents a significant share of the initial budget. This buffer covers structural surprises without bringing the project to a halt.
For an energy renovation project, the order of work determines its overall effectiveness:
- Insulate first (attics, walls, ground floors) to reduce energy needs before sizing the new heating system.
- Review ventilation immediately after insulation. A home made airtight without suitable ventilation will develop humidity and air quality problems.
- Replace the heating system last, once heat loss has been reduced. The required capacity will be lower, reducing equipment costs.
Insulating without reviewing ventilation is the most common technical mistake in energy renovation. It worsens indoor air quality and can cause mould that destroys the property’s value instead of increasing it.
The choice between renovating and selling as is should be based on data, not intuition. The EPC rating, the applicable conversion factor, eligibility for grants, and the property’s actual condition: these four factors are enough to determine whether the return on investment justifies the work. When the numbers do not add up, selling at a controlled discount remains a valid wealth-management strategy.
