7 Tips How To Save On Renovation Cost

12:21 PM


Hi guys,

There are many properties available for sale and rent in Singapore, such as 3 room flat for sale. Have you recently just moved into a new place? Whether it is for own stay or for investment purpose, you will still need to renovate the house. If it is for own stay purpose, it is a good opportunity for you build a dream home of yours. If it is for investment purpose, you will need to have your place renovated to fetch a better rental yield. This article will guide you through some tips to save on renovation cost.


1 | Find Out Average Cost Of Home Renovations
The cost of home renovations varies depending on factors such as the age of property, type of property, type of materials used and the scale of project. For built-to-order (BTO) HDB, the average cost of home renovation would range between RM30,000 to RM50,000. As for a resale flat, it will then be 50% more than the cost of renovation for built-to-order HDB. On top of the amount that you spent for your new home, you will need additional money for home renovation. Hence, the importance of setting a realistic budget for home renovation.

2 | Set A Budget
It is essential to have a budget for your home renovation to prevent yourself from overspending on unnecessary things. You can always choose to use a budget planner to help you keep track of your available budget for your home renovation. Look at your current finances and set a budget accordingly.

Do bear in mind that renovation can cost beyond RM30,000. You can consider getting a personal loan instead. However, personal loan comes with higher interest rate as compared to a renovation loan. A personal loan comes with a 12% to 15% interest rate as compared to renovation loan that comes with a 6% to 7% interest rate. However, it is not advised to spend too much on renovating a house that does not belong to you. Be realistic with what you can afford and what you cannot.

3 | Do Your Research In Advance
There are many options available in the market. Do your research on the items that you plan to buy and compare prices before you make any purchases. You will be surprised to be able to find the exact same lamp you saw at a high end store from a local supermarket at half the price. You can also go for online shopping as well.

4 | Compare Quotations
With so many websites in the Internet such as Pinterest where you can look for ideas, it has definitely make life easier by helping you to narrow down on the theme that you would like for your house.

If you are engaging with an interior designer, make sure you shortlist the interior designer before you decide on which design firm to engage with. Make sure that you reach an agreeable price and design with your interior designer. Inform the designer on what you are looking for in your house and your expectations to prevent disappointment in the future.

5 | Consider DIY


While we understand that we are not expert when it comes renovations, there are certain things that we could still do it ourselves. Consider doing it yourself to prevent exceeding your budget. Go to the nearest IKEA store and look for cabinets that you can assemble yourself. Furthermore, most IKEA furniture comes with clear and easy instruction as well. You could also choose to paint your house yourself instead of hiring workers to paint it for you.

6 | Minimal Hacking
Wall hacking involves demolishment of walls or other structures in your house. It could be hacking a wall to combine two rooms into one or it could be because you want to build a partition. Do think carefully before you decide whether to go through hacking in your house. In addition, do try to minimize the rerouting of plumbing, rewiring, and addition of windows.

7 | Paint Over Wallpaper


Wallpaper can be quite costly especially when you need it for the whole house. In order to save on renovation costs, do consider paint instead. Choose a washable paint that can be easily maintained or clean so that it will last longer. It might be slight more expensive than normal paints, but it is definitely cheaper than buying wallpaper.

In addition, wallpaper comes with a hefty costs of approximately RM60 to RM200, not inclusive of installation and adhesive costs.  Moreover, they are difficult to maintain as it is easily stained, scratched and torn.

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In conclusion, always plan your budget ahead and try sticking to your budget to prevent yourself from overspending on your renovation limit. Besides, there are also many articles on the Internet on how you can renovate your house without breaking your bank account.


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