In Vancouver, many homeowners wonder whether they should renovate their current home or invest in building a brand-new custom home. Both options have benefits and challenges, depending on your lifestyle, budget, and location. This guide compares the two so you can make an informed choice that works for you and your family.
Understanding Your Options
Custom Home: A new build designed from the ground up on your lot, fully tailored to your needs and style.
Renovation: Updating or reconfiguring your current home while keeping the existing structure.
The main difference is flexibility. A custom home offers unlimited design freedom, while a renovation works within existing limitations.
Costs in Vancouver
Custom Homes: Average between $350–$700 per square foot, with luxury builds reaching over $1,000 per square foot. They require a higher upfront investment but often deliver stronger long-term value.
Renovations: Typically range from $150–$400 per square foot, depending on the scope. While lower cost, they can reveal hidden expenses such as structural repairs or outdated systems.
Tip: Always compare renovation costs with potential resale value increases to avoid over-investing.
Timelines
Custom Homes: Usually take 12–18 months to complete, including design, permitting, and construction.
Renovations: Can be completed in 3–9 months, but unexpected site issues can extend schedules.
Permits and Regulations in Vancouver
Building in Vancouver requires strict compliance with municipal bylaws:
- Custom Homes: Require zoning reviews, full building permits, and sometimes environmental or heritage approvals.
- Renovations: Often need strata approval (for condos) and permits for major upgrades, while ensuring compliance with city regulations.
An experienced builder ensures your project moves through approvals smoothly and avoids costly delays.
Lifestyle Considerations
Choose a Custom Home if:
- You want complete design freedom.
- You’re planning long-term or multi-generational living.
- Your lot offers potential for views, space, or new design.
Choose Renovation if:
- You love your current neighbourhood.
- You want to preserve character or heritage charm.
- You need upgrades but not a total rebuild.
Sustainability & Energy Efficiency
Custom Homes: Allow for advanced features like Passive House design, solar readiness, EV charging, and full smart-home integration.
Renovations: Can improve efficiency with upgraded insulation, windows, and HVAC systems, but structural limits may restrict options.
Common Mistakes to Avoid
- Underestimating hidden costs in renovations.
- Choosing a builder without local Vancouver expertise.
- Not budgeting for permits and municipal fees.
- Making late design decisions that delay schedules.
Frequently Asked Questions
How do I decide between building new or renovating in Vancouver?
Compare total costs, timelines, and long-term goals. If your current home limits your vision, a new custom build may be the better option.
Which option adds more value to my property?
Custom homes generally create the highest resale value, but strategic renovations in prime neighbourhoods can also provide strong returns.
Is financing easier for renovations or new builds?
Both are possible. Renovations may qualify for home equity loans, while custom homes often require construction loans with phased draws.
Ready to Take the Next Step?
Still unsure whether to build a custom home or renovate your current space? Call or email Avangard Development for a free consultation. We’ll evaluate your property, goals, and budget to recommend the best path forward for your Vancouver project.
