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92% of the Italian real estate is made up of homes and related appurtenances, for an estimated total value of 5,526 billion euros. A 2017 Scenari Immobiliari report indicates that 52.2% of residential buildings are residential buildings. built before 1979, a percentage that rises to 82.3% if we also consider those built before 1990.
The challenge of real estate redevelopment of such an antiquated heritage is more current than ever. From seismic safety to energy modernization, through updating living layouts and systems in a smart home key (home automation and similar technologies), the work to be done is enormous.
It is no coincidence that the European Union has embraced the concept of Renovation Wave, or the sustainable transformation of the vast stock of buildings in the old continent. The Recovery Fund - the European recovery instrument - also includes a spending chapter of 40.1 billion euros earmarked for energy efficiency and seismic retrofitting of private homes in our country. Various tax benefits are envisaged, among which the best known is the renewal of the building stock. the Superbonus 110%.
In Casavo's corporate culture, activities relating to construction and construction site management are of primary importance. In fact, real estate development often involves the renovation and subdivision of the apartments we purchase to re-market them.
Among the many professional souls present in the company, that of the Renovation Manager therefore plays a particularly strategic role. Our Marco Lacroce, a construction engineer, is the perfect interpreter of this role. We asked him a series of questions to better understand how to leverage renovations to increase the value of a property.
What does your job as Casavo Renovation Manager involve?
I am a construction engineer accustomed to working in the construction sector. In the past, I have managed significant contracts and also had a great experience in the USA. Upon returning to Italy, I was the first member of the Casavo Renovation team. The challenge was to build a group capable of expressing creativity, but at the same time working according to the standards dictated by Casavo's business plan.
As Renovation Manager, I coordinate, together with the Real Estate Operations Manager and the Senior Construction Project Managers of the various cities, all the team members, the Construction Project Managers.
The biggest challenge is maintaining a single standard of intervention regardless of the city in which the construction site is located. Understanding the needs of the teams, the technical requirements, and defining the resources to be used are just some of the tasks I am responsible for to make the evolution of projects increasingly smooth.
One of the words we use most at Casavo is: Scalable: everything we do must be applicable to models of different sizes and characteristics without having to change the working method. Operating in very different markets (Rome, Milan, Bologna, Florence, Turin and Verona) is not always easy, but the processes we have developed help us stay consistent with the company vision.
Can we say that you are a construction manager who monitors all construction site activity?
That's not entirely accurate. Both I and the Construction Project Managers (CPM) coordinate the professionals and companies external to the company who design and physically carry out the works. My main responsibility is make the local CPM activity uniform and efficient throughout the territory.
Our work ensures that the entire process - which includes planning, relations with the Public Administration, execution of the works and final delivery - takes place smoothly and without problems. Even the management of the works is delegated externally, to professionals who work with us.
Is the planning carried out by an external professional who follows your instructions?
Exactly, the directives on how the projects should be carried out are identified within two main teams: Investment and Renovation. We try to understand, within the available budget, what are the best activities to do within a specific apartment. We then communicate them to the external designer who follows and implements the project according to our specifications.
Since January of this year, we have introduced a team of designers to Casavo who uses part of the Realisti.co technology to generate three-dimensional models and photorealistic renderings and therefore develop some phases of the project internally.
We can say that, depending on the types of properties to be renovated in the different cities (for example, Turin and Milan with structures from the 1970s or 1980s, or Florence and Rome with period properties), among your objectives there is Is it also about creating a standard?
Yes, one of my main objectives is precisely that of controlling and verifying the standard, especially between different cities. We aim to guarantee the same quality wherever we operate. Having an ideal reference model is also very important for the partner companies with whom we collaborate to ensure continuity and stability.
We are entering a somewhat complicated field, but we will try to make it simple. Let's talk about the various renovation bonuses, what are they and how can you get them?
The Superbonus 110% is relaunching the construction sector. It allows you to recover 110% of the work carried out, in the form of a tax deduction, invoice discount, or credit transfer when you carry out interventions that improve energy efficiency or reduce seismic risk.
Most of the interventions involve the renovation of the facade of the building through the creation of an insulating coat that provides good energy performance and allows you to "drive" the replacement of windows.
For years, it has been A standard bonus for building renovation is also foreseen, which over time has increased from 36% to 50%. It is the simplest to obtain and does not have major requirements to access it. The intervention must concern extraordinary maintenance work, with the presentation of a building application to the Municipality for the internal renovation of an apartment. Once the work begins, almost everything is included in the costs, even the replacement of windows or the boiler along with other maintenance activities. The maximum tax deduction foreseen amounts to 96,000 euros to be recovered over 10 years.
The last largest is The Ecobonus is well-suited to renovations where fixtures and the heating system are replaced. The tax deduction in that case is 50%.
Let's talk about the renovation specifications. What do you think should be included?
The specifications are a key document for us. They are the annex to the contract that contains all the technical specifications of the work to be carried out on the construction site. We include the architectural project, the description, and the work schedule in the specifications. Casavo partner real estate agents and clients are also provided with a more commercial and understandable version of the document.
In our renovation projects, we also take care of bathroom fixtures, with the exception of the sink, which is usually the subject of attention and customization by the customer. The same goes for the shower enclosure. The choice of models is endless, and we prefer that the customer decides based on their tastes. In the case of a property with two bathrooms, we foresee the possibility of installing the bathtub in one of the two.
As for the floors, parquet has come back into fashion and is our preferred option at the moment. However, if the customer arrives before the installation, we leave them the option to to choose the materials they prefer (parquet or tiles), as well as the type of finish and colors.
Does it still take time to get to the point where Alexa can turn on the boiler?
Yes, it still takes a little time. The systems we install in some of our projects, for example, are able to communicate with voice assistants. We often plan the installation of home automation systems, but it must be said that customer sensitivity on the subject is not yet so marked. In general, we notice that younger buyers, say under 30, appreciate the possibility of having a home automation system. to control the brightness of the different rooms via your smartphone, but above all for entertainment, while for the more mature customer it is not so important.
What is appreciated by everyone is the presence of electric shutters, a good wi-fi signal, and effective voltage load control to avoid blackouts when two or more large appliances are in operation at the same time.
Quality and speed are the distinctive elements of Casavo renovations. How does this approach help Gold Partners in reselling properties?
Regarding quality, I think of the triangle formed by time, costs and scope of the project. By intervening on times and costs, it can happen that you deviate from what was set.
To prevent this from happening, we have established reference standards: since we deal with many renovations, we are able to analyze the data we receive regarding budgets and timing. We have created a good database from which to draw to understand the impact given by times and costs with the aim of making the sales process functional.
Quality is a strong point and we are not willing to sacrifice it.
On average, how long does a renovation take?
When we buy, renovate and resell a property (trading) it takes a period of about four/five weeks after obtaining all the necessary permits to carry out the planned interventions. As regards the subdivisions - for example into three or four units - the time frame is instead about 100-120 days.
How do you use digital within your business? Real estate redevelopment?
We have specific software that helps us manage the many open construction sites and coordinate people. It is important to monitor the start and end dates of the work, check the status of the activities, whether they have been carried out and whether the paperwork has been delivered. This work would be impossible without a dedicated tool.
With the design team we have a fairly modern workflow. Through the use of the iPhone 12 and other technologies, we are experimenting with the LiDAR scanner, which makes it possible to create what is called a point cloud in jargon. When you use the smartphone camera, points appear on the walls that provide a 3D view of the apartment.
Usually, to make sure we don't miss anything, we start with a classic survey, followed by a point cloud survey. As a final step, we create a 3D photo survey on our platform. The entire package is sent to the design team, which is able to reconstruct the elements and develop a project within 48 hours.
The 360 technology is also used on site by both our project managers and external partners to carry out surveys. The construction managers have their own account to upload photos when they are on site and update the project managers in real time. All of this is also useful as a photographic archive of the progress of the work.
This propensity for technology allows us to experiment and implement new processes. And those who work with us have the opportunity to grow through innovation.
Join the transformation of the real estate world with Casavo
At Casavo, we have one goal: to transform the real estate world and make the work of our partner agents easier.
If you operate in Milan, Rome, Florence, Turin, Bologna, or Verona and haven't done so yet, sign up to Doris, our platform reserved for real estate agents, and start publishing your listings for free now. You can also enrich them with virtual tours, thanks to Realisti.co, for an even more effective effect.
In our vision, the road that leads to the future of the real estate market passes through the stages of digital and technological simplification. A journey we want to share with you and all the agencies that want to renew this sector. Together.
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