Without a solid plan to manage your cost of renovation, expenses can quickly snowball.
The Good News???
With a few smart tips, you can easily avoid bursting your home renovation budget.
4 Steps to Stay Within Your Renovation Budget
1. Settle on a Realistic Budget
Before meeting renovators, decide on a feasible and realistic budget based on your property type.Ā
Clueless? Check out the latest average renovation costs.
2. Prioritise Your Renovation āNeedsā vs. āWantsā
Listing your renovation āneedsā vs. āwantsā can help you identify unnecessary expenses and prioritise your renovation budget accordingly.
Renovation Cost Savings in Singapore
Example of Potential Renovation Cost Savings When You Prioritise Your āNeedsā Over āWantsā
| Needs |
Wants |
Renovation Costs Saved |
| Built-in Wardrobes for Storage |
Walk-in Wardrobes System |
Est. $2,000 - $3,000 |
| Essential Lighting (LED lights, Ceiling lights) |
Ambient Lighting Systems (Cove lights, Spot lights, Down lights) |
Est. $1,000 - $3,000 |
| Basic Painting |
Feature Walls or Textured Paint (Limewash, Microcement wall finishing) |
Est. $2,000 - $5,000 |
ā
āPro-Tip: Allocate renovation budget for your āwantsā only after fulfilling your āneedsā.
3. Tailor Your Renovation to Fit Your Lifestyle
Your renovation needs should reflect your day-to-day lifestyle.
Eg. If you rarely cook, having a high-end kitchen countertop may not be a priority. On the other hand, if you have children, investing in more storage cabinets to reduce clutter makes sense.
Important: Always ask yourself if a current trend will stand the test of time and will it still be relevant as your lifestyle evolves e.g. having children
4. Buffer for Unexpected Renovation Costs
According to the Consumers Association of Singapore (CASE), renovation budget overshoots are one of the top 3 complaints in Singapore.Ā
We strongly advise you to set aside ~10-20% in the event of renovation hiccups. Some renovation costs are difficult to predict beforehand e.g. hollow tiles popping-out during hacking etc.
Bonus! 3 Tips to Minimise Your Move-in Costs
Take Advantage of Sales and Discounts
Timing your purchase of big ticket items during seasonal sales events (11.11, 12.12, or group-buy deals) can significantly reduce your cost of renovation.
Hereās another trickā¦
Go sign up for multiple new cashback/miles credit cards! Youāll very likely hit all the minimum spending requirements for newcomer rewards.
Pace Your Purchases
Instead of purchasing everything upfront, consider gradually adding furniture and appliances along the way.
This will not only lower your initial costs but also prevent impulse purchases.
Compare 5 Renovation Quotations
We recommend meeting at least 5 CaseTrust-Accredited renovators.
Comparing enough quotes will give you a clear sense of the fair market renovation costs.
However, the most important step to take is to find renovators who are willing to work within your renovation budget.Ā
Some renovators have minimum budget requirements while others prefer to work with a smaller budget.
This is usually not stated upfront as renovators may not want to lose the opportunity to meet or persuade you.
Soā¦ how do you meet renovators who can work within your budget?
š Thatās where we can help!Ā
Weāre the only platform that screens renovators on an individual level. This means that we know their āunspokenā budget requirements and strengths. Andā¦ this also means that weāre super confident in helping you find suitable renovators who can work within your budget.Ā
