This study focuses on an overview of two programs applied to the residential building stock of Bucharest (Romania), namely, the seismic strengthening program and the thermal rehabilitation program. The methodology for seismic risk assessment given in the current generation of Romanian codes, as well as in previous regulations, is examined. A brief review of other seismic risk assessment methodologies currently applied in various seismically prone countries is also presented. Examples of high-rise buildings in Bucharest that suffered significant damage during the Vrancea 1977 earthquake and that were thermally rehabilitated without any strengthening works are shown in this paper. The consistent differences between the current outcomes of the two programs are presented and discussed. Finally, this review paper highlights the lack of coherence in terms of seismic risk assessments for the same class of buildings, inducing, in some situations, a false feeling of safety in the building inhabitants. In addition, a combined procedure for both seismic strengthening and thermal rehabilitation is mandatory, considering the seismicity of Romania, as well as ongoing climate change.