How to set a budget for your home renovation in Singapore?
One of the fulfilling investments that an adult can achieve is buying and owning a house in Singapore. While it’s true that it will cost thousands of dollars, a home that’s yours is a reward for years and years. There would be a bunch of variables and unforeseen conditions that you need to assess first and foremost. Now, the rest of the work will depend on your finances for your home renovation.
Thus, the most crucial stage that you need to consider is the budget that will cover the ultimate cost of new home construction and a remodel home. So, if you’re looking into house remodelling in Singapore, here’s a guide to budgeting your money.
Identify the type and age of the house
The cost of renovating a house can go up to $140,000 whether you’re looking to stay in an HDB flat, a landed house, or a condominium. It doesn’t stop there because you still need to assess if the property is suitable for a total renovation or an extension.
For example, you need to rewire for electrical safety due to old wirings and some work for creeping pipes because of the age of the house. So identifying what type of house you want to live in comes first on your list.
Choose the proper materials
Renovate a house to be safer and long-lasting to settle. It is vital to double-check the material types for your walls, floor, ceiling, countertops, and paintworks. With the wrong material, there’s a big chance that your budget won’t make it until the finishing process.
It doesn’t also mean that you hanker for fancier things that aren’t advisable like having a detailed wall and ceiling. It will shoot up the house renovation cost. But if you have more time in planning, look for materials that can be helpful substitutes for your design.
Declutter and list the scope of work
Before you even know you’re going to spend a lot on renovation, you can already pick unnecessary pieces of stuff inside your home. Remove some old cabinets, dining sets, and bulky counters and sell them if you must! It will help you save more and even expand your reno budget.
From there, you’ll be able to list how much work needs to be done. But, if you are not a fan of minimalism and want an extravagant interior design, it will cost you more carpentry and hacking work.
Save money, save time
At this moment, you can already start planning your home renovation and remodelling by following the steps in allocating a budget. Consult contractors like the PCE Build for consultation and home renovation services. And most importantly, always stick to your plans according to your budget.
References:
https://www.livspace.com/sg/magazine/renovation-costs-singapore
https://www.homerenoguru.sg/renovation-cost-calculator/
https://blog.moneysmart.sg/renovation-loans/renovation-singapore/
https://www.instantloan.sg/budget-for-home-renovation-singapore/
