Buying your own home is one of the most rewarding things adulting can offer. But whether you have a big budget or small, renovation costs in Singapore can quickly run out of control. Figuring out the finances for your home renovation is an important yet difficult task. You need to account for unforeseen expenses and keep a buffer for that, too. A perfect way to deal with this is to have a spreadsheet and make entries for whatever you know you are definitely going to be spending on.
But if you want some quick tips on how to save on renovation costs in Singapore, read on.
What Are Some Basic Renovation Costs in Singapore?
|Type of Property||Scope of Work||Cost Range for Renovation*|
|HDB BTO||Kitchen, wardrobe, and furniture***||$10,000 – $60,000|
|HDB Resale||Full home design** + furniture||$30,000 – $100,000|
|New Condo||Furniture only||$10,000 – $60,000|
|Resale Condo||Full home design** + furniture||$30,000 – $150,000|
**Full home design includes carpentry, masonry, flooring, ceiling, plumbing, electrical work, painting and hacking
***Furniture here refers to in-built furniture
The cost of house renovation in Singapore largely depends on the type of property and size of your home. Unless you own private property, your home will fall in any one of these categories:
- HDB BTO: HDBs are, basically, new government-subsidised housing projects that are built to order. Basic amenities are readily available in HDBs and will not require extensive renovation, unless you want to do so. Depending on what you want, you can choose to cut down costs by opting for lesser built-in furniture, omit fancy false ceilings, etc.
- HDB resale: As the name suggests, resale properties are usually old and you might need to renovate certain parts as per your needs. These homes require an extensive overhaul of their interiors with hacking, plumbing, electrical, painting, masonry and all other renovation services. Hence, the cost of renovating resale properties is higher than that of BTO flats.
- New condo: Condos in Singapore are privately owned properties that are non-subsidised and cost more than HDBs. But the good part is that these homes come equipped with high-end furnishings and fittings. Hence, an end-to-end house renovation in these Singapore homes is rarely, if ever, necessary.
- Resale condo: The cost of renovating a resale condo is usually higher than a new one. Hence, people with a higher budget are the ones who go for condos.
For more details on renovation costs in Singapore, check this out: How Much Does Renovation Cost in Singapore?
How to Save on Renovation Costs in Singapore?
Coming to the main point, how does one really find a budget home renovation in Singapore? Chalking out a reno budget that suits your requirements and lifestyle is easier when you have some tried-and-tested ways on which you can rely. Check out some tips below:
#1: Stick to your budget
First and foremost, let’s get this clear — the term ‘budget’ does not necessarily mean cheap. It just means that you allocate your money in the right way and know what you’re going to be spending it on. Before everything else, decide a ballpark figure that you will be able to afford for your home renovation in Singapore.
Only after you have this decided can you allocate money to different aspects of the renovation. A spreadsheet is a great way to track expenses so you do not go wrong. Also, when you make a budget home renovation plan, it is best to account for some unexpected expenses. It can be something as simple as 10% of your overall budget going towards miscellaneous expenditure. Once you have all this ready, make sure you try and stick to this as much as possible.
#2: Reduce Built-in Furniture
Yes, we understand that in compact homes, built-in furniture is quite a boon when it comes to increasing storage space. However, this custom carpentry will turn out to be rather more expensive than having loose pieces of furniture. It will set you back by at least $10,000 on average.
Moreover, if you plan to move out or revamp often, then loose furniture is an ideal choice, since you can easily carry it with you. An excellent example of this is the freestanding IKEA PAX wardrobe that packs a punch.
Did you know we have partnered with IKEA? Check this out for more details: Beautiful Home Interiors by the Winning Duo: Livspace & IKEA.
#3: Reduce Renovation Costs in Singapore With Discounted Big-Ticket Items
So what are these big-ticket items we’re referring to? Purchases like sofas, dining tables, TVs, mattresses, appliances and so on can overrun your budget by a huge margin. A great way to avoid this is to wait for seasonal or clearance sales. This will help you save renovation costs in Singapore. Also, look for retailers who offer special deals through group buys or BTO projects. The discounts you get in these sales are huge and you will be surprised at the dollars that you’ll be saving.
#4: What Material to Substitute With What?
Material choice is a big part of your budget and your interior designer will be able to explain this to you better. There are some materials that cost a fortune but can easily be replaced by relatively cheaper options if you’d like.
For instance, flooring can be made out of vinyl instead of stone or hardwood, which reduces the cost significantly. Similarly, you can opt for wall paint instead of wallpapers for your rooms to save big.
#5: Reuse Materials Like Kitchen Cabinetry
The biggest way to save up on your kitchen renovation cost is by reusing the cabinetry and appliances. On the other hand, if you can do with just giving your old cabinets a lick of fresh paint or new handles and knobs, you’ll still save a lot of money. You can also try out buy/sell/trade websites to get some great deals on these. Get innovative with salvage materials for the backsplash, which is both fun and quirky.
#6: Know Where to Save and Splurge
When it comes to choosing materials for your home, you’ll be tempted to choose either budgeted or extremely expensive alternatives. To save yourself from this vicious cycle, it is best to approach it like a save and splurge choice. Know where you need to save and where you can splurge a little to facilitate functionality.
For example, we suggest you opt for durable fitted furniture so you don’t have to revamp it due to wear and tear. Similarly, in the kitchen, you can get a good quality countertop, whereas you can save on the type of sink and faucets. Therefore, assess where to save and where to spend intelligently. This will drastically reduce your renovation costs in Singapore.
#7: Sell Things You Don’t Need/Declutter Smartly
This is obvious but some of us still hoard. Trust us, it just doesn’t help when you are trying to give your home a new look. Take the minimalist approach to home design and start decluttering. Marie Kondo was right when she said “discard everything that does not spark joy”. Try to remove anything that you haven’t used in the past six months and do away with all the clutter. Even Feng Shui recommends decluttering to make way for a cleaner home.
Here are 5 Quick Feng Shui Tips for Good Chi.
#8: Choose a Smart Partner for Budget Home Renovation
Does it all sound too overwhelming to get it done alone? Well, you need not worry. You can always hire professional help to get you through all of this. Interior designers are trained to help you with your dream home design. Hiring a contractor might sound easy, but in the end, you might end up feeling slightly stressed with all the following up.
Livspace can help you with a seamless and smooth interior design experience with our vast expertise and organised sector advantage. If you are still not sure, you can book a free consultation with us today and see if it works out for you!
We hope you now know how you can save on these home renovation costs in Singapore.
To know more about us, you can check this out: Hello, We’re Livspace! Here’s Why We Are Your Best Renovation Partners.
Send in your comments & suggestions to firstname.lastname@example.org.