Should You Build a New House or Renovate? Here’s How to Decide

Deciding whether you should build a new house or renovate an existing home is a major decision that involves numerous considerations. The best option depends on your goals, timeline, budget, and the current condition of your home. But what else do you need to know?

In this guide, written to help you decide whether to build a new house or renovate, we’ll compare the pros and cons of building a new house vs renovating, outline the costs to consider, share key questions to ask yourself, and show real-life examples from Hasler Homes’ portfolio of custom builds and award-winning North Vancouver home renovations. By the time you finish this guide, you’ll have a clear idea of whether to build a new house or renovate – and walk away with some new home inspiration!

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Quick Answer
Pros and Cons
Costs to Consider
Questions to Ask Yourself
New Home & Renovation Examples
Can’t Decide? We Can Help.
FAQ

If you’re wondering, “Is it better to build or renovate a house in Vancouver?” you’re not alone. Here’s a quick answer.

Build a new house if your existing home is in poor condition, has major structural issues, and/or its current layout doesn’t fit your family’s needs, and the foundation limits the level of customization you want.

Renovate if your home has good bones, is in a desirable Vancouver location, and/or has unique charm or architectural features you want to preserve.

Bottom line: Whether you should build a new house or renovate in North Vancouver depends on your home’s condition, your budget, and your goals. Build new for maximum customization and efficiency, renovate to preserve character and save costs (if your home has a solid foundation).

Deciding whether to build a new house or renovate your home is a major decision. To help you weigh your options and make an informed choice, we’ve broken down the key pros and cons of each. 

As an award-winning local Vancouver builder and renovator, we’ve also included our expert insight on which option is best for different situations – based on what we’ve seen work for homeowners throughout Vancouver and the North Shore.

At-a-Glance Comparison: Pros and Cons of Building a New House vs Renovating

The table below summarizes the main advantages and drawbacks of building a new house versus renovating an existing home in Vancouver, BC.

Build a New House	Renovate an Existing Home
Complete customization – Design every detail without structural limitations.	Often more cost-effective – Lower upfront cost for most projects, especially smaller updates.
Maximum energy efficiency – Build to or beyond BC Energy Step Code standards.	Preserve original charm – Retain architectural features while upgrading for comfort.
Longer lifespan – Brand-new structure, systems, and finishes.	Faster timeline possible – in most cases, renovations can be completed faster than building a new house.
Maximize lot potential – Optimize views, light, and property layout from the ground up.	Can be done in stages – Spread costs and work over time.
Lower likelihood of hidden issues – Fewer surprises than working with an older home.	May uncover hidden issues – Older homes can reveal costly problems once work begins.
Higher upfront cost – Includes demolition (if necessary), site prep, permits, etc.	Potential design limitations – Existing layout, foundation, or walls can restrict changes.
Longer timeline – Often 19 to 36 months or more in Vancouver.	Temporary disruptions – Noise, dust, and limited access during the project.

Pros and Cons of Building A New House in Vancouver

Here’s what to consider if you’re thinking about building a new house.

Benefits of Building a New Home

• Complete customization – Building a new house means you’re not constrained by an existing structure. You can design and construct a fully custom home in the architectural home style you love, with a layout, finishes, and features tailored to your lifestyle.

• Better energy efficiency – New builds can be designed for optimal performance, with advanced insulation, high-efficiency systems, and smart home technology. As a result, you can reduce your long-term energy costs and environmental footprint. If energy efficiency is important to you, be sure to work with a local builder, like Hasler Homes, that specializes in high-performance homes.

• Longer lifespan – A new build resets the clock on your home’s structure, systems, and finishes, ensuring a longer lifespan. Therefore, as long as you hire a good builder (i.e., one known for high-quality craftsmanship), your new home will last for generations to come. Want to make sure you choose the right builder? Here’s how to choose a home builder.

• Maximize your lot’s potential – Starting from scratch allows you to make the most of your property’s unique features. Whether it’s capturing mountain and water views, increasing natural light, or working with a sloped lot, a new build lets you design around the best aspects of your property.

• Lower likelihood of major surprises – While any construction project can come with setbacks and unexpected costs, new builds typically present fewer unknowns than renovating – especially if you have an old home that could be hiding issues behind the walls.

Drawbacks of Building a New Home

• Higher upfront costs – Building a new home typically costs more than renovating due to additional expenses such as demolition, site preparation, multiple permits, design fees, etc. While the investment can pay off in the long term, it’s important to budget for these higher initial costs.

• Longer timeline – New builds often take longer to complete than renovations, especially in North Vancouver, where permitting, design, and site work can extend timelines. Therefore, if you’re deciding whether to build a new house or renovate and you have a tight deadline, a renovation may be the more practical choice.
  
  Wondering how long a custom home takes to build in Vancouver? Find out here – How long does it take to build a house?

• Permitting complexity – In most cases, building a new home involves a longer and more complex permitting process. The good news? With an experienced team like Hasler Homes, you won’t have to navigate it alone – we handle all permitting and compliance requirements from start to finish.
  

• Temporary relocation – If you’re building a new house on the property where you currently live, you’ll need to move out during construction. On the other hand, with a renovation, you may be able to continue living in your home while the work is completed.

Building a New House is Best For:

• Homeowners with aging or poorly built homes.
• Properties with foundational issues or poor layouts that can’t be improved due to structural limitations.
• Those who want complete design freedom.
• Families planning to stay long-term and wanting a home that will last for generations to come with minimal maintenance.
• Homeowners looking for maximum energy efficiency (e.g. a Net Zero home).
• Property owners with unique lots who want to maximize their location’s potential.

Pros and Cons of Renovating a Home in Vancouver

Here’s what to keep in mind if you’re considering renovating your home.

Advantages of Renovating

• May be more cost-effective – Renovating is often more affordable than building a new home, especially if you’re only updating specific spaces, like the kitchen, bathrooms, or basement. When renovating vs. building a new house, you’ll save on costs like demolition and site preparation. That said, the cost of your renovation will depend on numerous factors, including project scope, building material quality, etc.

• Faster timeline – Renovations generally take less time to complete than new builds. Many projects can also be done in stages, allowing you to update one area at a time.

• Phased investment – Since renovations can be completed in stages, you can also spread the costs over time, rather than making a single large upfront investment.

• Can improve resale value – Well-planned, high-quality renovations can significantly boost your home’s value, particularly in North Vancouver, where modern, move-in-ready homes are in high demand. If you’re considering renovating your home before selling, here are the best renovations to increase home value. 

• Less red tape – Smaller renovations often require fewer permits and approvals compared to new construction, helping you move from planning to building more quickly.

• Maintain original charm – Does your home have unique charm or architectural details you want to preserve? When deciding whether to build a new house or renovate, keep in mind that renovating will allow you to retain these unique characteristics while still upgrading to modern comfort and efficiency.

• Environmental benefits – Renovating a home is often more sustainable than starting from scratch, as it reduces construction waste and the need for large quantities of new building materials.

• Stay in your home during construction – With careful planning and the help of a good builder, you can typically stay in your home while renos are underway. An experienced Vancouver home renovation company, like Hasler Homes, will schedule work strategically to minimize disruptions.

Disadvantages of Renovating

• Unexpected issues and costs – Homes, especially older ones, can hide issues such as mould, asbestos, outdated wiring, and structural damage. Unfortunately, these problems often don’t become apparent until work has started, which can lead to extra unexpected costs, delays, and even design changes.

• Potential delays – While renovations are generally faster than new builds, they can still be subject to delays – especially if unforeseen issues arise.

• Design limitations – Because you’re working with an existing structure, you may be restricted by the current layout, foundation, or load-bearing walls. This can make certain design goals more difficult or expensive to achieve or, in some cases, not possible at all.

• Temporary disruptions – While you should be able to remain in your home during most renovations, in some cases, you may need to temporarily move out. If you do stay at home while construction is underway, your daily routines, like cooking or doing laundry, may be disrupted by noise, dust, and limited access to certain rooms.

• Potential for higher costs with extensive renovations – Large-scale renovations can quickly add up, in some cases matching or even exceeding the cost of building a new home. This is especially true if major structural changes are required.

• Lower maximum energy efficiency – While you can enhance the energy efficiency of your home through renovations, it’s difficult to match the performance of a brand-new, high-performance home built to modern BC Energy Step Code standards.

Home Renovations Are Best For:

• Homes with solid bones that just need modernizing.
• Homeowners who love their location but want to refresh, expand, or reconfigure their current home.
• Those who wish to preserve charm or architectural details while upgrading their home.
• People who want to update specific spaces, such as kitchens, bathrooms, or basements, without rebuilding their entire home.
• Homeowners preparing their home for the market who want to boost resale value with targeted, high-ROI upgrades.
• Property owners who require a faster turnaround than a new build.
• Homeowners who want the flexibility to complete home improvements in stages.

Decision takeaway: Renovations are generally best for homeowners who want to preserve their home’s character or update only a few specific areas of their home (as long as the home is structurally sound). On the other hand, building a new house is often the better choice when complete customization, maximum energy efficiency, or major structural changes are a priority.

Not sure what’s best for you – build a new house or renovate?

In North Vancouver, some homes are better suited for renovation, while others could benefit from a complete rebuild. If you’re not sure whether to build a new house or renovate, a personalized consultation with an experienced contractor can help you make the right choice for your budget, timeline, and lifestyle.

Reach out today for a free consultation!

For most homeowners, cost is a factor when deciding whether to renovate or build a new house. That’s why it’s essential to understand both the expected and potential unexpected expenses for each option before making your decision.

Below is a quick breakdown of new build costs and renovation costs in Vancouver, along with the main factors that will influence your final budget.

Cost to Build a House in BC

Building a new home typically costs more than renovating an existing one – and a custom home will be more expensive than a standard-built home (due to its personalized design, higher-quality materials, and the level of craftsmanship involved).

Factors that affect custom home costs in Vancouver, BC:

• Location – site preparation requirements, accessibility, and zoning can impact cost.
  
• Home size – larger homes require more materials and labour.
  
• Design complexity – unique architectural features or high-performance requirements can increase your budget.
  
• Finishes and materials – luxury fixtures, flooring, and millwork add to the total cost.
  
• Unexpected costs – there are many additional costs that homeowners overlook when budgeting for their new build. See our Unexpected Costs When Building a House guide for a complete list.

To see the typical cost of a custom Hasler home, see the “How much does a custom built home cost?” FAQ on our Custom Built Homes page.

Renovation Costs in Vancouver, BC

The cost to renovate a home in Vancouver will vary depending on your goals/plans and the current condition of your property. For instance, minor updates, such as replacing fixtures or flooring, are far less expensive than large-scale renovations like full kitchen overhauls, bathroom renovations, basement transformations, or structural changes.

In most cases, a renovation will cost less than building a new house, especially if the goal is just to update a room or two. In this case, the decision whether to build a new house or renovate is usually pretty straightforward (given the home doesn’t have any hidden issues). 

However, in some cases, whole-home renovations and unexpected issues (like unforeseen structural problems) can push renovation costs to the point where they rival or even exceed the price of a new build. Therefore, if you want to make significant updates or have an older home that may be concealing hidden problems, the decision whether to renovate or rebuild becomes harder.

Factors that affect renovation costs:

• Scope – the larger and more complex a renovation, the more it will cost. In some cases, a whole-home renovation can cost as much or more than building a new house.
• Materials – premium, high-quality finishes, fixtures, and appliances can significantly increase your renovation budget.
• Labour – skilled trades and specialized work will affect your total investment.
• Unexpected costs – sometimes renovations encounter unexpected issues that can result in additional costs. For example, unexpected structural problems, mould, asbestos, etc. This is common with older homes in North Vancouver and can significantly increase the total cost of a reno.

How much will your home renovation cost? Contact us today for a free estimate!

Cost Takeaway: Build vs Renovate

Renovations are generally more affordable than building a new home – especially small or moderate updates. However, building a new home is a better investment for people seeking complete customization, maximum energy efficiency, or when major updates or structural work is required. Ultimately, whether you should build a new house or renovate comes down to your budget, goals, and the condition of your current home.

If you’re debating whether to build a new house or renovate your existing home, asking the right questions can quickly point you in the right direction. 

Ask yourself the following questions to help determine which option makes the most sense for your needs, goals, budget, timeline, and property.

1. How much customization do I want?

If your goal is a fully personalized home with no compromises, a new build gives you total control over design, layout, and features.

In fact, by the time you update an older home, working around existing structural limitations, it may be cheaper to tear it down and rebuild.

2. What’s my budget (including a contingency fund)?

If you have a limited budget and only want to update certain areas of your home – like the kitchen or bathrooms – a renovation may be the best choice. But if you have the funds for a larger investment and want to design a fully custom home, building new can provide more long-term value.

Contingency Tip:

For homeowners in North Vancouver, BC, we recommend factoring in an extra 5-7% of your total construction budget for a new build and 20-30% for renovations. Set aside these funds for unexpected expenses. Learn more about contingency funds here – Contingency Fund Recommendations.

3. How much time do I have?

If you need results quickly (e.g., to move back in before a specific date), renovations often have shorter timelines.

A custom home in Vancouver can take 19 to 36 months or more to build, a significantly longer timeline if you want to make updates quickly.

Need a timeline estimate to help you decide whether to build a new house or renovate? Request a consultation.

4. Does my current home have “good bones” or is it beyond repair?

If your home’s foundation, structure, and layout are solid, renovating can be more cost-effective than building new. However, if there are major structural issues or layout limitations, a rebuild may be more practical (and safer).

5. How important is energy efficiency?

If your goal is a high-performance home—think Net Zero or Passive House—it may be easier (and, in some cases, cheaper) to achieve this with a new build. 

While renovations can improve efficiency, they typically can’t match the performance of a purpose-built high-performance home.

6. Do I want to preserve my home’s character or start fresh?

If you’re deciding whether to build a new house or renovate, consider how much you value your home’s current architectural style, details, and/or charm.

If you love your home’s architectural style, heritage details, or unique charm, a renovation allows you to modernize while keeping those features intact.

On the other hand, if you’d rather design something completely new that reflects your style and needs, building a new house is the way to go.

7. What are my long-term plans for the property?

If you plan to sell soon, a targeted renovation may offer a higher return on your investment – especially in Vancouver’s competitive real estate market.

If you plan to stay for decades, a new build can provide you with a home designed for your specific needs now and in the future.

8. Will renovations cost more than (or nearly the same as) a new house?

Working on an older structure can be challenging, time-consuming, and expensive. Old plumbing, wiring, and structural components can pose many challenges. As a result, in some cases, home renovations can cost just as much or more than building a new house. Therefore, it’s important to consider the estimated cost of your home renovation and whether a new build can offer more value for a similar price.

For example, if your renovation budget exceeds $600,000, you may want to consider whether tearing down and rebuilding your home is a better option.

Decision Tip

Still not sure whether to build a new house or renovate? The best next step is to get professional advice tailored to your property, budget, and goals.

Contact Hasler Homes for a personalized consultation. We’ll walk you through the pros, cons, costs, and timelines so you can make the best decision.

Seeing the difference between a custom-built home and a renovation can help you visualize what’s possible for your property – whether you decide to build a new house or renovate.

At Hasler Homes, we specialize in both newly built custom homes and high-quality renovations, delivering stunning results that reflect each client’s vision, lifestyle, and budget, while enhancing comfort, functionality, and long-term value.

Below are two of our North Vancouver projects that illustrate what’s possible with a new build or home renovation.

New House Example: Scandia

This Scandinavian-inspired custom home was designed from the ground up. It blends elegant and modern design with high-performance construction—and every detail was tailored to fit the homeowners’ lifestyle.

Highlights include: fully customized design and layout, premium finishes, high-performance home (Built Green Platinum)

Awards:

• HAVAN Awards for Housing Excellence: Winner – Best Custom Home ($2 Million – Under $3 Million)
• CHBA National Awards for Housing Excellence: Finalist – Best Detached Custom Home (3,001 – 4,000 Square Feet)
• Georgie Awards: Finalist – Best Custom Home (Valued Between $2,000,001 – $3,000,000)
• HAVAN Awards for Housing Excellence: Finalist – Best Non-Certified High-Performance Home (New or Renovated)

See more of Scandia here – https://haslerhomes.ca/projects/scandia/ 

Renovation Example: Katsura

This old house renovation in Deep Cove transformed an outdated home into an energy-efficient, modern farmhouse. Working closely with the homeowners, Hasler Homes helped reimagine the home, creating a refreshed space designed for comfort, connection, and modern functionality.

Highlights include: improved layout for better functionality, whole-home update (including the kitchen, bathrooms, living areas, and exterior), energy-efficient home (Built Green Gold)

Awards:

• Georgie Awards: Winner – Best Single-Family Residential Renovation ($750,000 – $1,500,000)
• HAVAN Awards for Housing Excellence: Winner – Best Renovation ($700,000 – Under $1 Million)
• CHBA National Awards for Housing Excellence: Finalist – Best Whole Home Renovation (Over $800,000)

See more of Katsura here – https://haslerhomes.ca/projects/katsura/

Thinking about your own home? Whether you want the complete freedom of a custom build or the character-preserving transformation of a renovation, Hasler Homes can help you bring your vision to life. Request a consultation today.

If you’re unsure which option is right for you – build a new house or renovate – we’re here to help. From stunning custom homes to award-winning renovations, Hasler Homes has the expertise to help you choose the best option for you and your family.

Contact us today to book your consultation.

Is it cheaper to tear down and rebuild or renovate?

In most cases, it is more expensive to tear down and rebuild a home than to renovate. However, extensive renovations can cost as much or more than building a new house. Therefore, it depends on the scope of work, the home’s current condition, and your goals. 

Can I live in my house while it’s being renovated?

Yes, for most renovations, especially smaller projects, you can remain in your home while it’s being renovated. However, for major remodels and whole-home renovations, you may need to move out due to noise, dust, and safety concerns.

What upgrades add the most value in North Vancouver?

Kitchen, bathroom, and basement renovations, and energy-efficient upgrades typically deliver the highest return on investment (ROI) for homeowners in the Vancouver area, especially in North Vancouver. 

Want to know what other renos can increase the value of your home? Explore these 10 renovations to increase home value.

Is it worth renovating an old house?

Yes, if an old home has a solid structure and foundation, renovating can preserve its character while improving comfort, efficiency, and value. On the other hand, if the old house has significant structural issues, a rebuild may be a better investment.

For personalized advice about your old home, book a free consultation.

Is it better to build or renovate a house in Vancouver?

The answer to “Is it better to renovate or build new?” depends on your property, budget, and goals. 

In Vancouver, building new is often the best option if your home has major structural issues, poor energy efficiency, or poses too many limitations on customization. Renovating is ideal if your home has good bones, is in a desirable neighbourhood, or has unique characteristics and architectural elements you want to preserve.