BC Homebuyer’s Renovation Planning Guide 2025
Planning Renovations When Buying a Home in BC
Many BC homebuyers factor in renovation costs when purchasing a property. Whether buying a “fixer-upper” or planning improvements to an otherwise good home, renovation planning at purchase protects your investment.
Pre-Purchase Renovation Assessment Checklist
- Get a full home inspection (not waived) — especially for older or unknown-history homes
- Request permits history from city (unpermitted work affects financing and insurance)
- Estimate renovation budget before making an offer
- Get contractor walk-through quotes before conditions removed if possible
- Check zoning for secondary suite or addition potential
Financing Renovations at Purchase
BC mortgage options that include renovation costs:
- Genworth/Sagen Purchase Plus Improvements: CMHC-insured mortgages can include up to $40,000 for renovations (must complete within 120 days)
- CMHC MLI Select: For rental/affordable housing including renovation financing
- Conventional purchase + HELOC: Standard purchase mortgage + renovation line of credit after possession
Red-Flag Properties to Avoid
- Unpermitted additions or suites (retroactive permit may require demolition)
- Evidence of foundation movement (sloping floors, sticking doors)
- Asbestos-containing materials requiring full abatement before renovation
- Homes with active insurance claims or active disputes
→ See also: Vancouver Renovation Planning Guide
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Ready to start your renovation?
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