It’s the classic Vancouver dilemma. You love your neighborhood—your favorite coffee shop is around the corner, and the kids are settled in school. But the house? The house is tired. The kitchen is cramped, the layout is choppy, and you need more space.
So, do you sell and move to a bigger place? Or do you stay and renovate?
At Skön, we help homeowners navigate this choice every day. While the allure of a "new" home is strong, the financial reality of moving in British Columbia often comes with a hefty price tag—money that vanishes into taxes and fees rather than improving your lifestyle.
Here is a transparent breakdown of the costs of moving versus renovating in Vancouver and Burnaby for 2026.
1. The "Vanishing Money": The Hidden Costs of Moving
When you look at the price of a new home, you are only seeing the sticker price. In Vancouver, the "transaction friction"—the cost of simply swapping one set of keys for another—is staggering.
Let’s look at a hypothetical scenario: You own a $1,800,000 home in East Vancouver or Burnaby and want to move to a slightly upgraded home worth $2,100,000.
Here is what it costs just to facilitate that move:
- Real Estate Commissions (Selling): In BC, typical fees are 7% on the first $100k and 2.5% on the balance.
- Cost: ~$42,000 + GST
- Property Transfer Tax (Buying): You pay 1% on the first $200k and 2% on the balance up to $2M.
- Cost: ~$34,000
- Legal Fees & Moving Costs: Lawyers, movers, and utility setups.
- Cost: ~$4,000 - $6,000
- Mortgage Penalties: If you break a fixed term early.
- Cost: Variable (often $3,000+)
The "Vanishing" Total: ~$85,000+
The Reality Check: That $85,000 buys you nothing. It doesn't add a square foot of space or a single quartz countertop. It is simply the cost of doing business.
2. The Renovation Alternative: Investing in Your Asset
Now, imagine taking that same $85,000 (plus the difference in mortgage you would have taken on) and pouring it into your current home.
In 2026, here is what a budget of $100,000 - $150,000 can get you in a renovation:
- A Skön-Level Kitchen: Custom millwork, quartz islands, and integrated appliances ($60k–$80k).
- Open Concept Living: Removing a non-load-bearing wall to connect the kitchen and dining ($10k–$15k).
- New Flooring: Wide-plank engineered white oak throughout the main floor ($15k–$20k).
The Difference: Every dollar spent here stays with you. It increases the appraised value of your home (tax-free if it’s your principal residence) and improves your daily life immediately.
3. The "Devil You Know" vs. The "Money Pit"
There is a risk factor to moving that is often overlooked. When you buy a new home, you are buying someone else’s problems. That "move-in ready" house might have a furnace nearing its end of life or a roof that leaks in November.
When you renovate, you are uncovering and fixing your own home's issues. You gain:
- Control: You know exactly what is behind the walls because you put it there.
- Customization: You aren't paying for someone else’s taste (like a newly renovated kitchen you hate). You are building your dream space.
4. When DOES Moving Make Sense?
We are huge advocates for renovation, but sometimes moving is the right choice. You should consider selling if:
- The Lot is the Limit: You physically cannot add the square footage you need (e.g., you need two more bedrooms and zoning forbids an addition).
- The Commute: You need to be closer to work or family in a different municipality.
- The Neighborhood: You have fallen out of love with the area, or safety/schools are no longer a fit.
5. The Skön Verdict
If you love your neighbors, your school catchment, and your commute, renovating is almost always the smarter financial move in Vancouver.
By avoiding the PTT and other fees, you essentially "unlock" an $80,000+ budget to transform your home. Instead of paying the government and agents, you pay for heated floors, custom cabinetry, and a space that feels uniquely yours.
Don’t Move. Improve.
Are you sitting on a diamond in the rough? Let’s talk about how to spend that "moving budget" on a home you’ll never want to leave.
Let’s run the numbers for your home. Book a Renovation Feasibility Consultation
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