By Stephen Rolston
It might seem like a great deal to get a fixer-upper, but what if behind those vintage details in that century home, there is a deferred maintenance time bomb? Outdated wiring, worn-out systems, and surprise repairs can turn your dream home into a money pit. 😟 Would starting fresh be the smarter move for you? This list breaks down 6 reasons you should choose a new home instead of a remodel.
Remodelling isn’t always cheaper than buying a new home
At least not in the long run. In some cases, it can even cost more when you combine the cost of renovations, hidden issues, and energy inefficiency. By comparison, buying a new home offers price predictability and long-term savings.
The Canadian Homebuilders Association estimates that remodelling projects cost more than anticipated due to unforeseen issues at least 40% of the time. Mould, asbestos, and code violations are common in homes over 30 years old. New homes, built to current standards, dramatically reduce the risk of surprise repairs and structural headaches.
According to the 2024 Remodelling Cost vs.Value Report and national averages from Canadian renovation contractors, here’s a sample of what you can expect to pay for some of the most common major home repairs:
Major kitchen remodel $70,000 – $100,000
Full bathroom renovation $25,000 – $40,000
Electrical system upgrade $10,000 – $20,000
HVAC system replacement $10,000 – $18,000
Asbestos or mould removal $5,000 – $25,000+Other $0 – $100,000s
New homes, on the other hand, are guaranteed $0 up-front repair costs.
Source: Canadian Survey Compares Added Value of Nine Renovation Projects | JLC Online
Older homes aren’t always compatible with a modern lifestyle
Older homes were built for different eras and needs. They typically have smaller kitchens, fewer bathrooms, more interior walls, lack home office space, and have minimal storage. Adapting old homes to modern living preferences often requires major renovations.
Older homes can be less environmentally friendly
While salvaging materials seems eco-friendly, older homes are often inefficient, leaky, and resource-hungry. New homes are engineered to be much more energy-efficient, with less waste and a smaller carbon footprint.
The new Net Zero Ready homes at Watercolour Westport are up to 80% more efficient than standard code-built homes. Features like triple-pane windows, increased insulation, and high-efficiency heat pumps contribute to energy savings and environmental sustainability. Even if an old home is retrofitted, it’s unlikely to match the performance and efficiency of a newly built, code-compliant house.
Remodelling is usually more stressful, and a LOT more work
Remodelling is a high-stress experience. Buying new lets you avoid the mess and move into a finished, fully functioning space.
New home buyers skip:
-Applying for permits
-Dust, noise, and construction zones in your home
-Communicating and negotiating with contractors
-Unexpected costs
-Waiting for the renovations to be complete
Modern appliances work most seamlessly in new homes
You can try to get smart appliances in old homes, but it’s rarely easy. Older homes weren’t built to accommodate today’s technology, energy systems, or high-efficiency equipment. Retrofitting can be costly and limited by existing infrastructure.
Installing a heat pump in an older home can cost $10,000 – $35,000, often requiring upgrades to ductwork and electrical systems. By contrast, modern homes are designed to integrate efficient systems from the start—leading to lower costs and higher performance.
Some new communities are walkable, green neighbourhoods
Where and how you live matters just as much as the home itself. A very small number of new home communities, such as Watercolour, are planned with walkability, green spaces, and modern infrastructure that supports better living from day one.
Walkable, mixed-use neighborhoods can improve health, increase property values, and reduce reliance on cars. New communities often offer a higher quality of life than older neighborhoods with outdated planning.
Why take a gamble?
At Watercolour Westport, our new homes are modern, cutting-edge Net Zero Ready. Not only do buyers not need to worry about renos, they’ll enjoy high-quality housing in a walkable neighbourhood amidst nature.
Ready to get out of your old place? We’ll find a rental for you in Westport while we prepare your new home!
FAQ’s
Question: Is it cheaper to remodel or build a new house in Canada?
Answer: While remodelling can seem cheaper upfront, unexpected issues like structural damage, outdated wiring, or permit complications can quickly raise costs. In many cases, buying new is actually more cost-effective, especially when factoring in energy savings, modern infrastructure, and fewer future repairs.
Question: How long does it take to remodel a house?
Answer: A full-home remodel can take 4 to 12 months or more, depending on the scope, permits, contractor availability, and surprise complications. By contrast, a new build typically has a predictable construction timeline and move-in date, allowing for easier planning and less disruption.
Question: Do new homes save on energy bills?
Answer: Yes. The Net Zero Ready homes at Watercolour Westport are up to 80% more efficient than standard code-built homes. Features like triple-pane windows, increased insulation, and high-efficiency heat pumps contribute to energy savings and environmental sustainability.
Question: Can I get financing for remodelling like I can for a new home?
Answer: Financing a remodel often requires a home equity loan or line of credit, which may come with higher interest rates and additional conditions. New homes, on the other hand, are eligible for conventional mortgages, government incentives, and energy-efficiency rebates, making them easier and more affordable to finance.
Question: Is it difficult to modernize an older home?
Answer: Yes, especially if the home has outdated wiring, plumbing, or structural issues. Modernizing often requires tearing down walls, reconfiguring layouts, and upgrading systems—all of which are costly and invasive. Many older homes also aren’t compatible with newer tech or energy standards without major investment.
Question: Do new homes appreciate in value like older homes?
Answer: Yes, new homes typically appreciate at a steady rate, especially in growing communities. They’re attractive to future buyers due to their modern amenities, energy savings, and lower maintenance needs. Unlike older homes, they also come with fewer risks of depreciation due to outdated systems.
Question: Are older homes built better than new homes?
Answer: Not necessarily. While some older homes were built with durable materials, most lack the energy efficiency, safety standards, and structural engineering of modern homes. New construction must meet rigorous codes and often includes stronger foundations, better insulation, and environmentally friendly materials.
Question: What hidden costs should I expect when remodelling?
Answer: Common hidden costs include:
- Asbestos or mould remediation
- Electrical or plumbing code upgrades
- Structural reinforcements
- Permit fees and inspection delays
- Temporary housing during construction