October 6 2026

Why More Vancouverites Are Choosing to Renovate Instead of Move, And When It Makes Sense

samanthaFood for Thought on Real Estate, Market Wisdom 0

There’s a conversation happening in a lot of Vancouver households right now. The home feels a little small, or the layout isn’t quite right, or the kitchen has been on the list for years. And the question that comes up is the same one it’s always been — do we renovate, or do we move?

A few years ago, moving felt like the more straightforward answer for a lot of people. But in today’s market, more and more homeowners are landing on a different conclusion. They’re staying put and changing what they have instead. And in many cases, it’s not just an emotional decision — it’s a financial one that actually makes sense.

Why So Many People Are Staying Put

A recent survey found that 63% of homeowners would rather renovate their current home than move to one that’s already been updated. And in Vancouver specifically, the reasons are easy to understand when you look at what moving actually costs.

In Metro Vancouver’s current market, the transaction costs of selling one home and buying another — real estate commissions, property transfer tax, legal fees, moving costs — can easily run between $80,000 and $150,000, depending on the value of the properties involved. That’s before you’ve spent a dollar on the new place. For a lot of homeowners, that number alone changes the math significantly. A renovation that costs $60,000 to $80,000 and turns your current home into exactly what you need starts to look very different when the alternative involves six figures in transaction costs just to get through the door of something else.

There’s also the reality of what’s available. Vancouver’s market has more inventory than it did a few years ago, but finding a home that genuinely ticks all the boxes — the right layout, the right neighbourhood, the right building, at a price that works — is still not easy. A lot of homeowners look at what’s out there, compare it to what they already have, and decide that what they have is actually pretty good. It just needs some work.

The Real Cost of Renovating in Vancouver

Renovating in Vancouver is not cheap. Labour costs across the Lower Mainland are high, skilled tradespeople are in demand, and material costs — while more stable than they were during the supply chain chaos of 2021 to 2023 — are still elevated. Going in with a realistic budget is essential.

A kitchen renovation in Vancouver can run anywhere from $25,000 for a more modest update to well over $80,000 for a full redesign with high-end finishes. A bathroom typically lands between $15,000 and $40,000. A full home renovation on a detached house can easily exceed $200,000 depending on the scope and the finishes involved.

One of the most common budget surprises is the scope of the actual work and time it takes. What starts as replacing the kitchen cabinets has a way of becoming a full kitchen gut, which leads to redoing the floors, which leads to updating the lighting — and suddenly the budget has doubled from where it started. Setting a clear scope and sticking to it, with a contingency of at least 15% to 20% for unexpected costs, is one of the most important things a homeowner can do before a single wall comes down.

Permit timelines are another reality to plan around. In 2025, the City of Vancouver processed over 12,000 residential building permits, with average approval times running between six and ten weeks for standard renovation projects. If your renovation requires a permit — and most structural, electrical, or plumbing work does — build that timeline into your plan from the start.

When Renovating Makes Sense

Renovating makes the most sense when you love where you are but the home itself isn’t quite working for how you live. You’re in the right neighbourhood, close to the right schools or commute, in a building or on a street you genuinely like — but the layout is dated, the kitchen is tired, or you need more functional space.

It also makes sense when the changes you need are achievable within your current footprint. Not every home can be transformed into everything you want it to be. A condo with fixed walls and strata bylaws has real limitations on what can be changed. A house on a lot with room to expand has a lot more flexibility. Being honest about what the property can actually deliver — before you spend the money — is an important step that a lot of people skip.

And it makes sense when the numbers work. A renovation that improves how you live in the home and adds value to the property is a very different calculation from one that over-improves beyond what the neighbourhood or building can support. Spending $150,000 on renovations in a building where comparable units sell for $600,000 is unlikely to return that investment when it comes time to sell. Knowing the ceiling of your property’s value before you renovate is worth the conversation.

When Moving Still Makes More Sense

Renovating isn’t always the right answer. If the fundamental issues with your home can’t be fixed — the location doesn’t work, the building has serious problems, or the layout simply can’t be changed within your strata’s bylaws — then no amount of renovation will solve what you’re actually trying to solve.

And if your life has changed significantly — a growing family that needs more space than the current footprint can provide, a job change that makes the commute unworkable, or a desire to be in a completely different part of the city — moving is often the more honest solution, even if it’s the more expensive one in the short term.

The Question Worth Asking

Before deciding either way, the most poignant question isn’t “how much will this renovation cost?” or “what can we get for this home?” It’s simpler than that: what problem are we actually trying to solve?

If the answer is something your current home can realistically be changed to address — and the numbers make sense — renovating may be the right path to consider. If the answer points to something the home can never be, no matter how much money goes into it, then moving is probably the clearer path forward.

Either way, it’s a decision worth making carefully. And in Vancouver’s market right now, with transaction costs as high as they are and renovation options as broad as they’ve ever been, the choice between the two is genuinely closer than it used to be.