With every home improvement project, comes budget and costs. Deciding to renovate your home is an important step and it can be stressful for many. While it comes with the excitement of getting a personalised home, it also comes with a fair share of worries. The major one being home renovation costs. How much money should you set aside? Are you renovating a resale property or a new one? What should you renovate and what can wait? To ensure that your bank balance remains healthy and you are prepared, we have charted out some budget estimates. This should help you manage your finances better and plan ahead.
When it comes to home renovation, we at Livspace believe in delivering the best. Our designers ensure the best experience for you and your family. Here’s a break-up of estimated home renovation costs when you’re working with us.
#1: Renovation costs according to the type of property
|Type of Property||Scope of Work||Cost Range of Renovation|
|HDB BTO||Kitchen, wardrobe and furniture||S$10,000 – S$60,000|
|HDB Resale||Full home design + furniture||S$30,000 – S$1,00,000|
|New Condo||Furniture only||S$10,000 – S$60,000|
|Resale Condo||Full home design + furniture||S$30,000 – S$1,50,000|
Unless you own a private property in Singapore, your home is going to fall under one of the following categories:
HDBs are, basically, new government subsidised housings that are built-to-order. These homes are usually furnished with the basics and require minimal renovation. Moreover, several renovation rules and regulations apply to these properties since they are heavily subsidised by the government.
These are older homes that have an older layout and might have amenities that don’t necessarily match modern sensibilities. You will need to overhaul and renovate these homes from scratch, insuding hacking, plumbing, electrical work, tiling, masonry and so on. Find out Everything You Need to Know About Renovating Your HDB for more information.
Condos, which are privately owned, non-subsidised residences in Singapore, cost more than HDBs. Newly launched condo units have sleek looking interiors complete with all the essential fittings and usually good quality natural stone flooring. Therefore, you can avoid an end-to-end renovation in new condos.
Resale condos, as the name suggests, are pre-owned condos and the scope of renovation and its imminent cost depends on how old the condo is and how many times ownership of the unit has changed. You are going to want a good deal of overhaul in your resale condo since you are going to spend a considerable amount in acquiring it. For a better idea, find out How Can an Interior Designer Help You With Your Condo.
#2: Renovation costs for HDBs
When you engage with us for your HDB renovation, we make sure that you get a fair deal. Renovation costs usually depend on the type and size of your home. You can expect to spend around S$25,000 – S$55,000 if you plan to renovate a HDB BTO. Similarly, for a resale HDB renovation, your budget can revolve around S$15,000 – S$75,000, depending upon the scope of work. The below table will give you an idea:
|Type of Property||Average Cost (New HDB)||Average Cost (Resale HDB)|
Check this out to get a good deal: How to Get the Best Renovation Deal in Singapore? Opt for Livspace & IKEA.
#3: Renovation costs for condos
Condos can be both, new and resale. While new condos hardly need any renovation work, resale condos on the other hand require some renovation to be carried out. The size of the condo and the scope of work is what will decide your renovation costs. Set aside a budget of around S$12,000 – S$20,000 for new condos and S$20,000 – S$100,000 for resale condos. Let the following table give you budget estimates:
|Type of Property||Average Cost (Resale condo)|
#4: Renovation costs for kitchens
There are two types of renovation—partial and complete. Of course, these are the major factors that will affect your kitchen renovation cost. If you only require dismantling old cabinets and installing new ones, you will incur the cost of hacking and getting new cabinets. The length of new cabinets will determine the cost. If you are looking at a full revamp, then you will have to factor in the cost of hacking the tiles, getting and installing new ones, plus labour charges. Also, add the cost of installing new cabinets as well. Here’s a breakdown of budget estimates for you:
|Scope of Work||Average Cost|
|Full renovation (including hacking and remodelling)||S$10,000 – S$15,000|
You can check this for more details: What You Need to Know About Kitchen Renovation Cost for HDB Resale.
#5: Renovation costs for toilets
Whether you are embarking on a complete renovation journey for your bathroom or just planning to do some DIY renovation, you must know everything about toilet renovation cost. While on average you will be spending about $4,000-$7,000 on an entire renovation project. Here’s an estimation of a basic toilet renovation cost:
|Scope of Work||Average Cost|
|Hacking the toilet||S$1,200 – S$1,500|
|Plumbing||S$1,200 – S$1,500|
|Tiling||S$3,000 – S$4,000|
|Shower screen installation||S$600 – S$850|
|Vanity||S$850 – S$1200 (depending on the size)|
You can go here for more details: Toilet Renovation Cost 2021: Breaking it Down and Tips to Get it Right.
#6: Hidden costs to look out for
Every home renovation project is unique and while you can create a budget estimate and try to stick to it, there will always be some hidden or extra costs that you will incur as you go about the renovation. It is essential that you keep aside a miscellaneous budget for these uninvited costs. And, let us caution you, knowing these beforehand is going to help you majorly with your finances.
Yes, you yourself can be the biggest reason for a sudden change in your budget estimates. Initially you might think that you can do with modular cabinetry for your kitchen, but once the renovation kicks-off you realise you want custom cabinetry. This is going to hugely affect your budget.
Sudden structural changes
That beam you thought was strong enough is not as strong. Suddenly you want an open plan layout for your home, which means demolition and hacking. These changes can alter your budget immensely.
High utility bills
You might not realise it but your utility bills can eat into your budget and it is advisable to be prepared in advance.
Keeping pets/building a shelter for them
No matter which four-legged friend you have, you should consider them when you draw up a budget estimate for your home renovation costs. For the safety of your pets, add boarding into your budget.
Food from outside during/ just after renovation
Whether you move out or stay in while your home is getting renovated, you might miss out, but ordering food in is going to cost you. It sounds negligible but in reality you will want to factor this into your budget.
Unforeseen costs lurk where pests such as termites hang out. Any water damage found in the structure of any home is huge for hidden costs.
It is always better to be safe than sorry and when it comes to major things like home renovation, you should follow this rule strictly. Managing finances is a humongous task and we hope with this we could help you slightly. Here are 8 Ways to Save At Least $20,000 on Your Home Renovation.
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