Solar panels, smart-home technology, quartz countertops, luxury vinyl flooring, lots of storage, and secondary suites above the garage or in the basement are all valuable upgrades that provide a lot of bang for your buck when building a new home.

Buying a home with renovations in mind

Over the years, designer, builder and renovator, Shane Rennie of Rectangle Design Inc. has seen a consistent trend emerge when it comes to renovations.

"Most people are looking for a long-term investment, a family home, a place that they can see themselves in 15 or 20 years and they are looking to renovate to suit, so that the home lasts a lifetime," said Rennie.

But renovating an entire home at once is often out of most people's price range.

"The trend now is to renovate in phases," said Rennie, who recently purchased a home that he is renovating in three stages. "The home is in a fantastic neighbourhood, but it was at the top of our budget."