To restore to a former better state (as by cleaning, repairing, or rebuilding).
After living in the house for 10 years, they have decided to renovate it; they installed a new kitchen, moved some walls, repainted the interior, and made several changes. It now looks much better.
Merriam-Webster Online Dictionary
renovate (verb)transitive verb
1.
to restore to a former better state (as by cleaning, repairing, or rebuilding)
2.
to restore to life, vigor, or activity - revive the church was renovated by a new ecumenical spirit renew
