Here’s How Much You Should Budget For Your Home Renovation In Singapore (2019 Update)

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Here’s How Much You Should Budget For Your Home Renovation In Singapore Sing Business Mag

Other than the cost of your home, the next most expensive thing Singaporeans pay for would probably be home renovations. Getting that minimalist home design, that stylish living room or warm beautiful kitchen comes with a huge price tag.

Home restoration, renovation and remodeling services are available for all types of homes in Singapore. Both older and contemporary homes can be restored, renovated and remodeled. The projects may involve green or eco-friendly building, energy efficiency, preservation and regular home renovation and remodeling services.

These types of projects vary in terms of complexity and size ranging from architectural and entire home renovations, to simple bathroom remodeling. Home improvement experts also handle complex and technical projects that include dealing with projects that require various phases and specific structural issues.

Some of the projects that home renovators usually work on include the following:

  • Accessibility adjustments and adaptations.
  • Home energy remodeling and upgrades.
  • Exterior remodeling.
  • Interior remodeling.
  • Historic structure restoration and preservation.
  • Family rooms.
  • Home offices.
  • Basements (especially for private properties).
  • Bathroom remodels.
  • Kitchen remodels.
  • Home additions.
  • Whole house remodels, renovations and restorations.

 

Calculating The Cost Of A Home Renovation

Here’s How Much You Should Budget For Your Home Renovation In Singapore Sing Business Mag

Renovations can be challenging. Aside from the task of finding the right person for the job and thinking about different ideas, people need to budget effectively for their renovation. Determining a suitable figure is comparable to groping in the dark when a person does not know what the costs entail.

These factors include the normal range, the cost of different types of projects and whether the interior designer’s prices are affordable. There are several questions that need to be answered, which is why it is crucial for homeowners to carry out adequate research.

Property Details

The first step is to consider the key statistics of the home. These include the type of property such as resale or new, condo and HDB, the size of the house and the total number of rooms that will be renovated. These are some of the essential items when determining the right budget for a renovation.

Costing Trends

Factors such as costing trends affect the overall budget such as the average cost of renovating a condo, which is typically less than what is required to renovate HDBs. This is because condos usually have higher end renovations. Condos typically cost an upwards of S$40,000, while HDBs are likely to cost slightly more than S$50,000. Resale flats are usually more expensive to renovate as well. Considering these variables is necessary for tailoring budget requirements for specific needs.

Types Of Renovations

Here’s How Much You Should Budget For Your Home Renovation In Singapore Sing Business Mag

  • Renovation projects vary widely and it is always a good idea to consider the cost of overhauling a home in terms of different parts rather than the whole house.
  • There are several components such as wiring, plumbing and painting but carpentry, tiling and flooring often take up a huge chunk of the budget. For example, masonry may cost S$10,000 for a living room, while extensive carpentry for shelving and cabinets can cost as much as S$20,000 for the same space.
  • Renovation costs consist of the different projects that can be paid for, ranging from moderate to extensive projects. Each renovation option should factor in estimated budgets to have a better idea of how much each room will cost.

Priorities

It is important to figure out the priorities and set up a budget. For people who are on a stringent budget, unnecessary additions such as complex carpentry designs and fancy tiles can be reconsidered. Homeowners can also save money by opting for affordable materials and designs. Interior designers often implement various money saving tricks to lower costs.

Hidden Costs

After considering the basic details and determining the types of projects that will be carried out, there should be an accurate estimate of what the renovation will cost. However, things may not always add up as expected. Hidden costs or extra work can disrupt the budget such as moving cots, design fees, unforeseen repairs and last minute changes. It is advisable to set aside at least 10% of the total budget for these costs.

Appliances And Furnishings

Here’s How Much You Should Budget For Your Home Renovation In Singapore Sing Business Mag

It is important to note that appliances and furnishings can set homeowners back as much as S$30,000 and these areas should be added up to reach the total sum required for the entire renovation.

The reality is that renovations can be costly but the good news is that with proper budgeting, people are only required to pay for what they need. With an accurate and transparent budget for home renovations, people can be financially prepared for the tasks ahead.

 

Finding Interior Designers and Contractors in Singapore

People spend most of their times at home, which is why it is advisable to hire a professional who can transform any living space into paradise. Interior designers are trained to create amazing spaces that can fulfill daily needs while providing a relaxing haven after the hustle and bustle of daily life.

Cost-Effective

Along with being trained to come up with beautiful, functional spaces, professional designers are aware of how to avoid costly mistakes. Their knowledge ensures that the entire process is streamlined and helps clients understand the difference between long-lasting concepts and fleeting trends.

Resources

Designers and contractors have access to abundant resources to add personal and fresh styles to people’s homes. From textiles to furniture, designers in the industry know where to find virtually everything.

Objectivity

When renovating a home, a person may be overwhelmed by the details and find it difficult to make final decisions. Professional designers are objective and can cohesively interpret their clients’ goals and inspirations.

Results

Designers and contractors are committed to ensuring that the clients’ needs are efficiently met. They focus on creating spaces that not only look amazing, but that work effectively for the occupants as well.

Professionalism

Here’s How Much You Should Budget For Your Home Renovation In Singapore Sing Business Mag

One of the major challenges of home renovations is the planning and stress that comes with them. A designer is essential for the peace of mind and for making sure that all the work is done.

Some of the interior design companies that homeowners can hire include the following:

  • Vegas Interior Design.
  • Urban Habitat.
  • Design 4 Space.
  • Starry Homestead.

 

Cutting Down Home Renovations Costs

Here’s How Much You Should Budget For Your Home Renovation In Singapore Sing Business Mag

A home renovation can be one of the most costly home projects and people often run over their budgets. However, there are various ways to avoid unnecessary spending with knowledge and careful planning. Whether someone wants to update the home exterior, add an extension or renovate the house completely, it is essential to maintain a realistic budget.

Assessment

Prior to starting a renovation project, people need to assess the value that it will add to the property. This is crucial if a quick resale is expected. Consulting real estate agents is a good way to find out what buyers want in the area and how possible it is to achieve their expectations.

Planning

Working out the costs of renovation and proper planning are important along with splitting the budget. For example, most of the money may be spent on internal fittings and fixtures or structural renovations.

  • Creating new rooms from the space that is already available is more affordable than extending the home.
  • Renovation professionals should always be consulted when carrying out large building projects.
  • Online resources are great for comparing and researching costs for different products like furnishings, tiles and appliances.

Quotes

Quotations vary, and it is important to obtain several quotes that can be compared to find the best rates without compromising on quality services. Homeowners should remember to read the quotations carefully, find out what has been included and ask any pertinent questions.

Detailed Designs

While working with a contractor, the design specifications should contain sufficient details to prevent hidden costs. Unforeseen problems such as drainage, roofing and plumbing can cause delays and end up being very expensive.

Budget Tracking

Once the project begins, extra costs can be avoided by minimizing changes. Everything should be factored in, including appliances, furniture, electrics, plumbing and building work to ensure that the budget remains on track and there is enough money to keep the project going.