Step-by-step: Calculating your budget for your home renovation

It is highly stressful trying to sort out the different budget plans for your new home especially if you are a first time homeowner. You will be overwhelmed by the amount of stuff that needs to be bought and sorted.

Do reach out and talk to top interior designers if needed.

But do not panic as here is a guide to help you better sort your budget plan out.

Step by Step Calculation For Home Renovation

Step 1: Research

Do look and research about the various cost trends for the type of housing you are in, how many bedrooms and square meter/ square foot of your house.

If you have just received your new flat and your house is in a clean slate then the chances are that you might have to spend more on your renovation.  

According to the statistics provided by Qanvast, the costing trends are as such:

  • HDBs: ~ $53,000

  • Condominiums: ~ $49,000

  • Resales: ~$74,000

  • New homes: ~$42,000

Based on Interior Style:

  • Minimalist: $55,000

  • Modern: $52,000

  • Contemporary: $51,000

  • Industrial: $51,000

  • Scandinavian: $45,000

 Here are also some comparison for the common flooring cost:

  • Vinyl: $3.50-$6.00 per square foot

  • Laminate: $5.50-$8.00 per square foot

  • Ceramic tiles: $9.00-$12.00 per square foot

  • Marble: $30.00-$80.00 Per square foot

  • Hardwood: $30.00-$50.00 per square foot

 

Step 2: Select Home Area to Conquer First

Figure out which areas in your house which you would like to focus on first- divide and conquer

The biggest work in home renovations that possibly takes up the most out of your budget is probably the flooring and tiling, carpentry and hacking.

If you plan on doing a mixture of tiles, creating platforms or having complicated carpentry designs then the chances of your unintentionally racking up the cost of your renovation is high and possibly inevitable.

 

Step 3: Liaise Closely with Your ID or Contractors

Be sure to be with your contractor or interior designer every step along your renovation journey.

You have to take into account the possibility and the possible hidden cost that could rack up and be hurled at your. These additional charges usually occur due to last minute changes or the need for repair works along the way and others. As such, it is advisable to set aside a sum of money for these possible hidden costs.

 

Step 4: Choosing the Right Appliances

Look around for the best appliances suited for your house. Many a times, people tend to forget that furnishing and decorating your house with other details apart from the design sets you back quite a huge sum of money as well.

Thus, it might be wise to either DIY certain furniture or look around for suitable alternatives.

Regarding electrical work, if you are considering to rewire do consider the following:

  • Your electrical consumption habits as this will be a good gauge in determining how many power points you possibly need

  • Have a rough plan of where you would place/ use your electrical appliances

  • Be sure to check with your interior designer and electrician if your plan is visible.

Tips to Reduce Renovation Costs

Here are some tips and tricks to help you reduce some of that renovation cost:  

1. Doing the paint work yourself

You not only save money doing the work yourself but it is also easy to maintain and you can switch up the look of your wall as and when you like. Who doesn’t love easy maintenance.

2. Choosing vinyl or laminate flooring  

Choosing this option not only gives you the freedom and cheat code to make it look like you have marble or hardwood flooring but at a much cheaper price. Further, these options are also easy to maintain and highly durable.

In addition, vinyl flooring can be laid on top of your existing tiles. This allows you to save more money as you avoid having to hack off your existing tiles and that can be expensive, especially for wet areas like the bathroom where waterproofing works needs to be done for your tiles protection.

3. Avoiding complicated carpentry design

Unique built-ins sure make a statement in your house but so do they on your wallet. Odd shape or circular carpentry requires a great deal of workmanship and thus amount to a higher price tag.

If you want to save those extra dollars then opt for simple linear work or less built-ins. Those are not only are more friendly on your pocket but can still make your house layout standout.

4. Go for the minimalist look

  • This focus on clean, simple lines and carpentry work

  • By keeping to the minimalist look, you are also reducing the amount fo excess carpentry and appliances that you possibly do not need

  • The emphasis on loose and furnishing and decor means that you need very little to decorate you place to get that wow factor

5. Simple light work/ setup

Recessed lights can be costly due to the level of skilled workmanship required and lighting components used. By reducing the number of lighting points and swapping them for these tricks to bring in light, naturally.

You can easily brighten up you house without having too many light features with just these simple tricks:

  • Positioning mirrors or glass panels in front of a light source to adjacent. This will then allow the light to reflect off the mirror and further brighten your house

  • Going for a light palette for your walls. Choosing light colours for your walls such as white or light grey means that the colours allows for better reflection against the light, making your room look brighter  

6. Opt for paintings or statement pieces instead of investing in feature walls

Feature walls can not only be extremely pricy especially if you get a customised design, but you might even get bored of it after a while.  

By opting for just simple painted walls or decorative pieces, gives you the freedom and option to switch up the look of your room as and when you like, but at a lower cost as well.

 

Swiss Interior Design Packages

Swiss Interior Design offers a wide suite of renovation packages so home owners can make the most informed decision when it comes to renovating their home.  

Due to the complexity of renovation work and the many parts of a home that can be renovated, we offer the following to make your purchasing decision easier:

Renovation packages in Singapore

BTO renovation packages

HDB Resale renovation packages

Kitchen cabinet packages

 

 

Swiss Interior