There is a difference between property repair and property renovation. Repairing the property involves modifying a feature of the property which is old or already existing so that it can be brought back to the performance level which it used to work on. Renovation of a property on the other hand involves removing a feature of the property which is old or existing at the moment and replacing that particular feature with one that is completely new. Examples of renovation of property are installing a new water heater as a replacement for a water heater which is old, or installing new windows as a replacement for the old ones.
In a lot of cases renovating property is very simple. But there is no denying the fact that getting the property repaired is more cost effective than getting it renovated. There is also the chance that when things are replaced as a result of property renovation the quality of the replacements might not be as good as the original ones.