ELI5. how do old builduings get refurbished? Façade and structurally? What is more cost effective: destroy+rebuild or refurb?
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There is not a single answer to that question, it will be it depends.
There will be situations where tearing it down and rebuilding is cheaper than repairing. It will simply depend on how large part you need to fix.
There is also a difference between fixing something that is damage compare to modifying it so it is more modern.
A company will have a group of engineers and architects review the design of a building. They will use those drawings and design calculations to create a new set of plans and drawings detailing the work that needs to be done. Then a construction team just does it.
Whether to tear down or refurbish is a much more complicated question. It depends on the building size, location (which itself can be broken down into local building density, access to the site, how close the buildings next store are, local building code, local zoning code and so on), desired use, and previous use (which can be broken down into current configuration, layout, potential contamination and more). There is also public opinion to think about.
To add to what u/user_account_deleted said, some buildings are also protected for their cultural or historical value.
If it’s just the looks then the frontage will be preserved while everything behind that will be knocked down and rebuilt to modern needs and standards. E. g. a mansion being converted to apartments, each of course with its own bathroom and kitchen.
If it’s the building as a whole then it’s restoration work, a job for specialized workers. In France the “Monuments historiques” keep a keen eye on what’s under their supervision and the owner has to get a permit for any modification or even repair.
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