Build new or renovate – renovatin tips from Alair Homes on Vimeo.

Which one is more efficient in Vancouver, to build a new home or renovate an existing one? Well if you like the area that you are currently living in, you might also like the answer. Cost comparison of building from the ground up compared to a major reno.

There are several key reasons to consider when comparing these two options. Here are a few:

How does the cost compare between building new against a major renovation?

Our experience is that to end up with similar square footage and finish materials it typically is around $300,000 to $500,000 less to do a major renovation. There are exceptions of course and an expert builder should be consulted. The main reason is that usually, we re-use the foundation and much of the existing framing. Typically, all the mechanical systems, electrical and plumbing is upgraded.

An expert builder or house designer should be familiar with your municipality

They should be involved because the current zoning, various bylaws, right of ways and encroachments may have changed from the time of the original build. That means you may not be able to build a new house on the lot as you are envisioning. So this is step one. Know the guidelines.

Location can really be a big factor in your decision

Sometimes, if your current house is close to the ocean, lake or creek, it’s very likely you can not build that close again if you were to tear down and build new. So a renovation/addition may be your only option to keep that coveted position on your lot.

A new build though may be the only real option

This could be the only option for two reasons: One is that the current house is in such poor shape that it is not worth renovating. Or secondly, that a new home from the ground up is just your preference!