Is Renovating Worth It in Today's Brampton Housing Market?

Most of us are guilty of pushing the renovation task down our to-do list. Time is short, money is tight - there always seems to be a reason to keep saying we’ll get to the renovation task “someday.” The do-it-now-or-never situation only arrives when we decide to put our house on the market. That's when we start quickly finalising whether to renovate the house or sell it as-is. Since you’re reading this, we’re guessing you are at this crossroads, trying to decide between the two options. Well, renovating could be a smart move if you are selling your house in Brampton now or in a few months. We will go over the reasons below.

Today’s Buyers Have a Soft Spot for Renovated Homes

Even though the prices of houses for sale in Brampton are higher than ever, today’s buyers still want fully renovated, move-in-ready homes. Yes, you heard that right! A recent survey from Wahi found that most homebuyers still dream of owning a fully renovated, single-family home in the suburbs. When asked to choose between a fixer-upper, a tear-down, or a renovated house, most Canadians (64%) chose the renovated option. Meanwhile, only 23% were open to buying a fixer-upper. And just 2% of homebuyers picked a complete tear-down home.

The survey showed that older homebuyers are even less interested in fixer-upper houses. The survey found that 74% of homebuyers aged 55 and over prefer renovated homes. Even younger buyers lean more toward move-in-ready properties. 66% of those aged 35-54 and 59% of homebuyers aged 18-34 say they would buy a renovated home.

What’s So Irresistible About Renovated Homes?

There are some pretty obvious reasons why homebuyers are willing to say “yes” to renovated homes and “no thanks” to fixer-uppers. Here are a few key factors driving this trend:

1. No Stress, No Mess - Home renovations can be expensive, time-consuming, and stressful. Many buyers don’t have the patience to deal with contractors, rising material costs, or construction delays. That's why they prefer to move into an already upgraded home, sparing themselves the headache of managing home improvements.
2. Renovated Homes Feel More Modern and Comfortable - A freshly renovated home is simply visually appealing. New flooring, modern lighting, updated bathrooms, and open kitchens give a space a clean, bright, and welcoming vibe.

Long story short, if you want your house to appeal to more buyers, you should seriously consider renovating your house. Even minor upgrades can make a big difference in how buyers perceive your home.

The Current Market Conditions Are Also Pushing Sellers to Step Up

Buyer’s preferences aren’t the only reason to consider renovations. The current Brampton housing market conditions are also pushing home sellers like you to go the extra mile. Let’s dig into why this is happening.

This Year’s Spring Housing Market Is Not Giving Sellers the Usual Advantage

Traditionally, spring is when the real estate market really comes alive. The warmer months are when the snow melts, buyers come out in full force, and homes sell faster and closer to the asking price. The expectations for this year's spring housing market were the same. In fact, with the lower interest rates and new mortgage reforms in place, all bets were that this spring market would outperform the past few years. However, unfortunately, the 2025 spring market has been slower than expected so far, and sellers seem to be the most affected, especially those who need to sell fast.

The culprit behind the slowdown? The uncertainty surrounding the trade war. Concerns about the trade war's potential impact have spooked buyers and made them hesitant to make major financial decisions like home-buying. Instead of diving into the market, many have taken a wait-and-see approach, pausing their homeownership plans.

Source - The Canadian Home

The numbers from the above table clearly reflect the shift in home buyers' confidence. Houses are sitting on the market longer than usual, the number of transactions is lower, and sale prices are slipping. In short, this year’s housing market is not the hot, seller-friendly spring market you were probably hoping for.

Renovation Can Give You an Edge in This Slow Market

It’s clear - a house for sale in Brampton is not getting the attention it deserves in today's market. That’s why, as a home seller, you must leave no stone unturned when it comes to getting your home ready for buyers, and renovation is a key part of making your home more appealing. Without strategic renovations, your selling price could be 10-20% less than a similar move-in-ready home in your area. If you’re okay with walking away from that extra money and don’t mind a slower sale, you can sell your home as-is. But if not, you must renovate your home in a way that -

● Make Your Home Irresistible at First Glance

With higher inventory levels, homebuyers now have endless options. If your home doesn’t grab their attention instantly, buyers will scroll or drive past and move on to the next property. That’s why you must aim to make buyers fall in love with your house at first glance. The way your home looks and feels matters more than ever.

● Avoid Giving Buyers an Easy Way Out After the Inspection

More and more buyers are including inspection clauses in their offers that let them walk away from the deal if they find serious issues. As a home seller, don’t let that happen - you must nip this possible obstacle in your home sale process in the bud. You must deal with any repairs and renovations now, so nothing surfaces during the inspection.

Final Tip: Don’t Blow Your Budget on Costly Renovations

To wrap things up, yes - updating and renovating your home is a smart move if you plan to sell soon. But remember that it’s crucial to avoid going overboard or pouring too much money into renovations that won’t give you a strong return. Only spend on improvements (renovations, regular maintenance, or home staging) that might boost your home’s value. Most experts recommend keeping your renovation costs within 10 to 15% of your home’s estimated market value. To stretch your dollar further, consider budget-friendly DIY updates, get multiple quotes, and don’t hesitate to negotiate with contractors.

In the end, your goal should be to make smart, strategic updates that help your home sell faster and for the best possible price.