As you can see, in the broadest sense, “renew” means to do something new, to revive. When this definition is applied to the homebuilding world, “revive” can mean anything from repainting and cladding cabinets to installing new light fixtures or adding other finishes and luminaires. Regardless of the task at hand, the original design is never drastically altered. Rather, it is simply updated or adjusted to meet a new or revised standard.
Renew means “to restore to a good state of preservation”. In other words, dilapidated buildings or poorly maintained homes are sometimes considered to be in poor condition. Renovating a house or building means resurrecting that structure of a state of deterioration.