Retrofit Cost Calculator
Estimate whether an upgrade is worth it. Compares all-in cost against rent uplift, valuation uplift at sale, and void during refurbishment — discounted to today.
NPV is negative (−€4,839) at your 6% hurdle. Your capital does better elsewhere — bonds, equities or a different property.
Red flag · Rent uplift of €180/mo on a €350k property is aggressive. Verify against actual let comps in your area before betting.
Next move · Phase the works — defer cosmetic upgrades and only do what's needed for tenancy. Most "wishlist" retrofits don't earn their NPV.
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Free stress test
Project NPV under stress
Three what-ifs. Individual unlocks the full sensitivity grid.
| What if | Base | Under stress |
|---|---|---|
| Upgrade cost +20% | −€4,839 | −€10,439 |
| Rent uplift −20% | −€4,839 | −€7,521 |
| Void +1 month | −€4,839 | −€6,239 |
Retrofits are sensitive to cost overruns and void extensions — the three rows above are the most common ways NPV gets eaten.
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How to interpret your results
- Positive NPV means the project beats your hurdle rate. Negative NPV means your capital does better elsewhere.
- Payback under 5 years is generally considered strong for residential. 5–8 years is reasonable. Over 10 years, look hard.
- Annual yield on cost is the rent uplift expressed as a return on the money you spent. Compare it to your alternative uses of capital.
- Void cost during refurb is the single most-underestimated input. Two extra months of void can flip a project from positive to negative NPV.
What this doesn’t include
Tax-deductible status of the upgrade (varies by country), insurance/inspection changes, and any rebates or grants. Worth checking with your accountant for your specific situation.
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