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–<\/span><\/p>\n New analysis from Canadian real estate listing website Wahi shows how renovations affect home prices around the Greater Toronto Area. <\/p>\n TORONTO<\/a>, ONT. \u2014June 11, 2025 \u2014 Canadian homebuyers sure like their homes renovated. In fact, Wahi\u2019s 2024 Great Canadian Dream Home Survey<\/a> showed that 64% of potential homebuyers prefer renovated homes over fixer-uppers or tear-downs.<\/span><\/p>\n <\/p>\n \u00a0<\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n
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With its latest study, the Canadian digital real estate brokerage and listing website now looks at how renovations can influence the price of a home in the country\u2019s biggest housing market.<\/span><\/p>\n
To do so, Wahi analyzed nearly 100,000 listings for single-family homes that sold throughout the Greater Toronto Area between the beginning of 2023 and the end of this year\u2019s first quarter. Wahi compared sale prices for those listings that mentioned renovations and those that did not.<\/span><\/p>\n
The results?<\/span><\/p>\n
GTA-wide, the median price for renovated homes was $1,200,000, compared to $1,152,000 \u2014 a difference of $48,000, or roughly 4%.<\/span><\/p>\n
That\u2019s good news for owners of renovated homes who are looking to sell in today\u2019s buyer\u2019s market, though exactly how much a reno will pay off depends on the individual home.<\/span><\/span><\/p>\n
\u201cThe latest Wahi analysis gives us an idea, in broad terms, of the premium that homebuyers put on renovated homes,\u201d says Wahi CEO Benjy Katchen. \u201cHowever, every home is different. How much more a renovated home sells for depends on myriad variables, including local market conditions, quality and style of the build, and overall investment, to name a few,\u201d he continues.<\/span><\/span><\/p>\n
Different home features also appeal to different buyers, as Wahi previously highlighted with its 2025 What Homeseekers Want Survey<\/a>. While the survey found that a backyard is the most sought-after feature, a renovated kitchen or bathroom also ranked highly. Some 59% of respondents cited it as one of their top five features making it the second most popular attribute, beating out finished basements, garages, and more than 20 other options.<\/span><\/span><\/p>\n
Renovated Homes in the City of Toronto Command the Highest Premium<\/strong><\/span><\/span><\/p>\n