Should You Build New or Do Large-Scale Renovations on Your Home?

If you’re already considering a new build or a large-scale renovation, chances are something significant has changed in your life. Perhaps your family has grown, and you need more space, or your lifestyle has evolved, and your current house no longer suits your needs.

This is natural. Life evolves, and with it, our homes must adapt to meet new challenges and desires.

So, build new or renovate? It is not just that simple anymore. A new factor thrown into the mix is Vancouver’s forward-thinking housing initiative called multiple conversion dwellings (MCDs). This is an entirely new choice for homeowners and worth looking into. Single-family homes in certain neighbourhoods can be converted into as many as six residential units depending on the property’s size as long as the style and uniqueness of the neighbourhood are kept. So, building your own living spaces to your liking on your property is quite possible while stratifying the other units to your financial benefit.

Again, the question is, build new or renovate?

What Do You Expect From Your Home?

Our homes are deeply personal. They must cater not only to our individual needs but also to those of every family member. This complexity makes the decision challenging.

First, ask yourself: Is my current house truly my home?

Here are some guiding questions to help you decide:

• What’s missing in my current house?
• How long do we plan to stay here? What future plans should we consider?
• Are children staying with us long-term, or are they preparing to leave the nest?
• Are aging parents part of our living plans?
• Is it time to incorporate “aging in place” modifications?
• Do I want something brand new or something that evolves with our changing needs?
• Am I missing critical space—bedrooms, bathrooms, or open living areas?
• Does my house support my lifestyle today, including social gatherings or hobbies?
• How important is the style of the home—traditional or modern?
• Am I willing to wait months for construction, or is time a critical factor?
• Do I have the resources for uninterrupted construction, or would I need financing?

Now, we are getting somewhere. Surely we have enough information to make this decision.

Weighing the pros and cons

With answers to these questions, let’s try evaluating both options’ pros and cons.

Pros of a New Build

1. Customization & Modern Design: Build your home entirely, incorporating energy-efficient systems and the latest technology.
2. Energy Efficiency: Modern construction reduces long-term energy costs.
3. Fewer Maintenance Issues: New systems have warranties, minimizing costly repairs.
4. Long-Term Value: A well-designed new home can have a higher resale value.
5. Fewer Hidden Costs: Avoid the unexpected issues often found in older homes.

Cons of a New Build

1. Higher Upfront Costs: Land, permits, and construction fees add up.
2. Longer Timeline: Building can take months or even years.
3. Potential Delays: External factors like weather and supply chain issues can slow progress.
4. Uncertainty: Zoning restrictions and environmental factors may complicate the process.

Pros of Renovation

1. Cost-Effective (Potentially): Renovating can be less expensive than starting from scratch.
2. Faster Timeline: Small-scale renovations often take less time than a full build.
3. Preserve Location: Stay in the neighbourhood you love while improving your property.
4. Historic Charm: Maintain the character of an older home while updating its functionality.
5. Less Land Risk: No need to navigate the complexities of buying land or undeveloped plots.

Cons of Renovation

1. Hidden Costs: Renovations often uncover costly issues, like mould or outdated systems.
2. Limited Customization: Existing layouts may limit design potential.
3. Disruption: Construction noise, dust, and temporary relocations can be inconvenient.
4. Design Compromises: Older structures may restrict your vision of the home.
5. Older Systems: Even post-renovation, older elements can remain inefficient.

Made a decision? Still confused? Probably!

The truth is there are so many factors to consider in such a project that you need professional guidance.

Need for professional guidance

Surrounding yourself with the right professionals makes the process far less daunting. A team that includes a skilled designer, an experienced builder, and a reliable realtor ensures you’re supported by expertise at every step. A well-structured process led by these experts can guide you toward the right choice for your unique needs.

For example, at Kerr Design Build, the decision-making journey with a client begins with Concept Creation, a phase designed to bring clarity. Much like making a pros and cons list, this process helps lay out all your ideas—even the ones that initially seem incompatible. A professional designer translates those ideas into one or more tailored options, showcasing the potential of your lot or home. This phase allows you to explore possibilities, weigh them, and start narrowing down your choices.

Once you’ve identified some promising options, the decision process deepens. It’s no longer just about which option excites you most—it’s about “value”:

• How much will each option cost?
• What’s the long-term value of the investment, especially if you sell the property later?
• Is what you love something future buyers might love, too?

If necessary, we bring in a trusted realtor who understands your vision and can provide valuable insight into how your choices align with the market, giving you confidence in the potential return on your investment.

With all this information, you can now decide what is right for you and your family — to build new or renovate.