The terms renovation and update are often used synonymously, but this is not quite correct. We explain the difference.
Renovation: If a renovation is necessary, it’s because of problems or defects that need to be remedied to maintain the property’s value, to make it more comfortable or to prevent further problems. Renovation therefore refers to restoring or modernizing a building or apartment.
Example: If asbestos is discovered in the walls, it must be removed to prevent health risks to the occupants. This problem cannot be solved with a simple lick of paint.
Update: An update or refresh is more concerned with improving appearances. Although there could be some superficial damage, there are no substantial defects.
Example: If there is chipped paint on the walls or damaged wallpaper, a fresh coat of paint or some new wallpaper is sufficient. The aim of this type of work is to make the walls look like new again.