Tips on how to budget for your renovation

In Singapore, typical home renovation projects easily cost upward of $20,000, and the bigger the home, the more costly its going to get.

In addition, it usually cost more to renovate older homes compared to that of newer homes as more often than not the wiring and plumbing would have to replaced to prevent any leakages or damages to the new interior.

When planning and sorting out your budget for your home renovation, it might be easier to dissect the house and the budget per se. What this means is that it can be easier to prioritise your renovation projects by room and build a budget around the cost of each individual project.

As it can be difficult to get a rough idea of what and how much your home design budget should be, it might be wise to bring in a reliable interior designer in Singapore early in your interior design stage. This is because the expert can help talk you through your needs and priorities, to help guide you along in setting a realistic budget for the renovation project.

 

Creating your home renovation budget 

1. Prioritize your remodelling needs

  • What do you need?-The features of the room or space you want to create

  • How much and what details are you willing to compromise

  • What do you want to/ willing to splurge on  

2. Create a detailed plan that includes expected costs

  • This means to include the estimated costs for labor and materials.

  • You can seek help from online resources such as HomeAdvisor to estimate labour cost for say a plumber, electrician or even a handyman to help you with you renovation.

  • Appliances that you will need for your home

  • The materials needed for build-ins, also do take into account if you will need/ want to demolish anything walls as this will add on to your expenses.

3. Choose the right contractor/ Interior designer

Source and obtain different bids from multiple contractors. With a better idea in mind of what you want and need done with the estimated cost for each, you can now source for a contractor that can complete your project within your estimated budget.

A good tip would be to look around your local company and read the various reviews and testimonies, and ask them to create a bid for your project. Do get around 3-4 for you to have a more accurate idea on the cost.

 

When choosing a contractor

  • Complete interviews and check their references.

  • Be thorough and transparent in your instructions, both your project and your home design budget. If your contractor knows you’re sticking to a tight budget, they will be more likely to talk through additional expenses, time delays and project changes with you.

  • Make sure the interior designer thoroughly understands your needs and has a clear idea of how you plan to prioritize parts of the project.

  • Talk through how you will approach any unforeseen issues and how it will affect the budget of the project.

Do not just go with the one with the lowest bid, cheap labour may sound really appealing but if the contractor is not reliable enough then it might open more doors to errors, which can cost you more money later.  

If you feel that none of the contractor estimates fit into your interior design budget then do look through your list of wants and needs, possibly eliminate parts of your project with you deem less crucial.

Be sure to have your chosen contractor to relook at your home design plan and budget to ensure that what you have planned is visible and also to safeguard any other costs that you may have overlooked.

Tips on how to save on home renovation costs:

1. Do the painting yourself

If you want to save those extra pennies and do not mind the hard work, then do consider doing the paint job yourself. This can possibly save you up to hundreds of dollars (depending on how big your house is)

2. Pick laminate or vinyl flooring

Flooring can easily be one of the most costly items in your home renovation especially if you are looking at options such as marble or wood parquet.  

As such, if you are working with a tight budget or just simply wish to save a few pennies, you can get the look for less by going for laminate or vinyl floors instead. They can range from about $4.50-$8.00 per square foot in comparison to about $40 per square foot for a marble or wood flooring.

In addition, the laminate and vinyl floorings are highly durable and is easy to maintain. Though, it is good to note that vinyl floorings are bette for damp areas.

3. Go for statement art pieces or paint instead of a feature wall

Sometimes simplicity is the best. By going for statement art pieces, you not only have the freedom and option to replace them as and when you like but it saves you a considerable amount of money, especially of the feature you are considering is complex.  

4. Consider overlaying your tiles instead of re-laying them

5. Keep your carpentry simple

Try to avoid any circular or odd shaped carpentry as this will inevitably rack up your renovation cost. Try as much as possible to keep your carpentry simple.

6. Avoid unnecessary false ceiling

As false ceiling is usually made to cover up the wiring on your ceiling and can cost anywhere from S$4 to S$6 per square foot to install. They may be an unnecessary cost. Unless your ceiling is truly scattered with wires, a good contractor can easily find ways to hide these without a false ceiling. Besides, false ceilings have a tendency to cause project delays, due to the intricacy of the work.

 

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:

Singapore renovation packages

BTO renovation packages

Resale renovation packages

Kitchen cabinet packages

 

Swiss Interior