Renovated or Well Maintained? What BC Homebuyers Need to Know

by Debbie Evans

Renovated or Well Maintained? What BC Homebuyers Need to Know

Housing Commentary · October 2026 · Debbie Evans, REALTOR® — westvanliving.ca

Most of Canada's housing conversation is about construction: how many homes, how fast, at what cost. A new CMHC analysis published October 22 asks a quieter question. What about the homes we already have? Using 2021 Census data, CMHC counted nearly 920,000 dwellings, or 6.1% of the national stock, that needed major repairs.

For buyers, sellers and owners across West Vancouver, North Vancouver, Vancouver, Squamish and Whistler, the finding has a practical reading: a home's condition is part of housing supply, and it is a core part of its value.

919,550

Dwellings needing major repair (2021)

6.1%

Share of Canada's housing stock

~13×

Mould/mildew reported: major-repair homes versus regular-maintenance homes (2022 survey)

What CMHC Found

The headline is not that Canada's housing stock has been neglected. CMHC notes that the share of homes needing major repair has been fairly stable since 2016. The raw number keeps climbing because the housing stock keeps growing, and a steady percentage of a larger base is a larger number of homes.

The burden is not evenly shared. Renters are more likely than owners to live in a home needing major repair, and the gap is wider for subsidized housing and for Indigenous communities, where CMHC reports rates about three times the national average.

All Canadian dwellings6.1%

Owner-occupied5.3%

Renter-occupied7.3%

Subsidized housing9.4%

CMHC also links condition to health. Using the 2022 Canadian Housing Survey, it found that homes needing major repair report mould or mildew far more often than well-maintained homes, along with more pests and more concerns about drinking water.

Mould or mildew: regular maintenance → major repair needed1.9% → 25.2%

Pests: regular maintenance → major repair needed10.6% → 38.6%

Undrinkable water: regular maintenance → major repair needed1.9% → 8.9%

What "Major Repair" Means

Statistics Canada defines it as things like defective plumbing or electrical wiring, or structural repairs to walls, floors or ceilings. The measure is reported by the household, not confirmed by an inspector. That matters when we compare it to what a building inspection or a strata depreciation report might find.

How British Columbia and Vancouver Compare

The long-term trend here is encouraging. Between 1996 and 2021, the major repair rate fell in British Columbia and in the Vancouver census metropolitan area. CMHC attributes the improvement in large urban centres to new construction and renovation activity outpacing the rate at which existing housing deteriorates.

British Columbia, 1996 → 20217.61% → 5.84%

Vancouver CMA, 1996 → 20216.84% → 5.29%

Canada, 20216.1%

Read the Numbers Carefully

These are 2021 figures for a region that spans the whole Vancouver metropolitan area. They are not a West Vancouver, North Vancouver or Squamish number, and they describe what households report about their own unit. Common property in a strata building, such as the roof, envelope and mechanical systems, may not show up in them at all.

Condition Is Part of Value

After nearly 40 years in interior design, construction and renovation, the pattern I see is that fresh finishes do not tell you the condition of the systems behind them. Water, wiring and plumbing fail, and they do it behind the finishes. A bright, freshly painted home can be sitting on a roof, drain line or electrical panel that is near the end of its life.

That is why I encourage buyers to separate two questions that are often blended together in a listing:

What did the renovation include? Was it mainly finishes, or were plumbing, electrical, ventilation and other systems updated too?
What maintenance has been completed? Ask about the roof, drainage, windows, building envelope, heating and hot water equipment, and request supporting records.

A well-maintained home with dated finishes and a renovated home with deferred systems are priced and lived in very differently. The first gives you a sound foundation to design around. The second may hand you a bill for work you can't see.

The Best Time to Fix Systems

If you are planning a kitchen or bathroom renovation, the walls are already open. That is usually the most cost-efficient moment to address aging wiring, supply and drain lines, ventilation and moisture control. CMHC's mould findings are an association rather than proof of cause, but they are a reminder that ventilation and moisture management belong in the scope, not the "if there's budget left" column.

Keeping existing homes in good repair helps preserve the housing supply we already have.

For Strata Owners and Buyers

Much of the North Shore and Vancouver market is strata, so condition is a shared question as well as a personal one. British Columbia has tightened the rules in two ways that affect how buildings plan for repairs.

Since November 1, 2023, strata corporations must contribute at least 10% of the annual operating fund budget to the contingency reserve fund (CRF) when approving the budget. This is a minimum contribution requirement, not a guarantee that the reserve fund is adequate.
BC strata corporations with five or more strata lots must obtain depreciation reports every five years and can no longer vote annually to defer them. For existing stratas without a report, or with one received before December 31, 2020, the deadline was July 1, 2026 in Metro Vancouver, the Fraser Valley and the Capital Regional District, with certain island exceptions. For other areas, including Squamish and Whistler, the deadline is July 1, 2027. Stratas with four or fewer lots are exempt. A report projects repair and replacement costs over 30 years and must include at least three funding models.

When you are evaluating a strata purchase, the questions I would put first are:

Is there a current depreciation report, and what does it recommend over the next 5 to 10 years?
What is the CRF balance relative to that forecast?
Which major items have been completed (roof, envelope, piping, elevators), and which are still ahead?
Do the minutes mention special levies, loans or deferred work?

Look at Both the Suite and the Building

Renovations improve how a home lives every day: the kitchen, the bathroom, the flooring, the lighting. Strata records answer a different question, which is how the building has been maintained and how its owners are planning and paying for future work. Looking at both gives you a complete picture of the home and a firmer footing for the price conversation.

My listing at 303-441 East 3rd Street in Lower Lonsdale offers a practical example. The updated kitchen and bathroom, hardwood floors and upgraded lighting contribute to the suite’s everyday comfort and appeal. Alongside those features, buyers and their advisors can review the strata documents to understand the building’s maintenance history, financial position and plans for future work. Together, these help buyers make an informed decision.

For Sellers and Homeowners

If you are planning to sell, or simply protecting what you own, I suggest a simple order of operations:

Systems first. Address anything that affects safety, water or structure.
Function second. Improve storage, lighting and floor plan efficiency where they limit how the home lives.
Finishes last. Surfaces should follow the work behind them, not hide it.

Keep records. Invoices, permits and service dates for roofs, windows, plumbing and electrical work give a buyer and their inspector something concrete to rely on, and that clarity tends to support a smoother negotiation. Before you start work, confirm current permit requirements with your municipality, since rules for existing homes vary between the District of West Vancouver, the North Shore, the City of Vancouver and Squamish.

The Bigger Picture

Canadians already spend heavily here. CMHC, drawing on Statistics Canada data, puts household spending on maintenance and repairs at roughly $25 billion a year. Statistics Canada also reports that the cost of homeowners' maintenance and repairs rose by nearly one-fifth between September 2018 and September 2024. Deferring necessary repairs can allow damage, and the eventual cost, to grow.

CMHC's conclusion is that maintenance and new construction work best together. From a REALTOR® and design perspective, I would put it more simply: the most affordable home is often the one that is already built, provided it is kept in good repair.

Frequently Asked Questions

Common questions about housing condition, maintenance and what it means for buyers and owners in BC.

What does "needing major repairs" mean in the Census?

Statistics Canada uses it for things like defective plumbing or electrical wiring, or structural repairs to walls, floors or ceilings. It is reported by the household, so it reflects what residents recognize rather than the findings of a professional inspection.

Is housing in BC in worse shape than the rest of Canada?

No, on this measure. In 2021 the BC rate was 5.84%, below the national rate of 6.1%, and it had fallen from 7.61% in 1996. The Vancouver census metropolitan area was at 5.29%. These are broad regional figures and don't describe individual neighbourhoods or buildings.

How does maintenance affect what a home is worth?

Condition affects both price and the speed and certainty of a sale. Buyers and their inspectors look closely at roofs, drainage, windows, plumbing, electrical and ventilation. Documented maintenance reduces uncertainty, while visible deferred work tends to be priced in with a margin for risk.

What should I review before buying a strata unit?

Start with the depreciation report, the contingency reserve fund balance, the minutes from the past two years or more, and any special levies or planned major work. These tell you about the building, which a suite's finishes can't.

Do BC stratas have to get a depreciation report?

In most cases, yes. Strata corporations with five or more lots must obtain a report every five years and can no longer defer it by annual vote. Existing stratas without a report, or with one received before December 31, 2020, had to obtain one by July 1, 2026 in Metro Vancouver, the Fraser Valley and the Capital Regional District (with certain island exceptions), and must do so by July 1, 2027 in other areas, including Squamish and Whistler. Stratas with four or fewer lots are exempt.

Should I renovate or repair first?

Generally, address safety, water and structural issues first, then function, then finishes. If a renovation is already planned, open walls are an efficient time to update systems behind them.

Sources

CMHC — Build more. Lose less: Why maintaining existing homes matters, Mathieu Laberge, Chief Economist and Senior Vice-President, Housing Insights, October 22, 2026 (2021 Census and 2022 Canadian Housing Survey data).
CMHC — Dwelling Condition by Tenure and Period of Construction (data table).
Statistics Canada — Which households need repairs, and how much more do they cost?, November 14, 2024.
Province of British Columbia — Strata depreciation report requirements.
Province of British Columbia — The contingency reserve fund (CRF) in strata corporations.
Province of British Columbia — Strata legislation: changes to legislation.

Debbie Evans Personal Real Estate Corporation | REALTOR® & Registered Interior Designer

eXp Realty | West Vancouver, North Vancouver, Vancouver, Squamish & Whistler

Whether you are weighing a purchase, planning a renovation or deciding what to fix before you sell, I can help you read a home's real condition alongside its price. That means looking beyond the finishes at the systems, the floor plan and the building behind them.

westvanliving.ca

This article is for general information only and is not legal, financial, engineering or building inspection advice. Figures are drawn from the 2021 Census and the 2022 Canadian Housing Survey as reported by CMHC and Statistics Canada, and from Province of British Columbia strata guidance current at the time of writing. Regulations and permit requirements change, so confirm details with the relevant authority and consult a qualified professional before making decisions about a specific property.