SINGAPORE: After watching countless house tours and renovation videos, an online user took to a forum on Wednesday (March 19) to ask about the real cost of home renovations, curious about how much most homeowners spend and whether they make major changes like hacking down walls. Many shared their home renovation costs, with some even surpassing $100k.
“I’ve been looking at reno videos/house tours quite a bit lately in anticipation of my new house,” the writer shared.
“Understandably, most of the featured videos tend to have costlier renovations because the change is quite drastic and honestly, it’s the very nice ones that tend to get featured.” He mentioned that although a number of such homeowners are influencers, who can get a certain amount of sponsorship, whether full or partial, many homeowners have to shoulder the full cost of renovations.
“Perhaps, it’s the circle I’m in, but some of my friends have said they felt quite poor after purchasing the house and paying for renovations,” he said. “Hence, they may have to hold back on some not-so-essential furnishing at home.”
This led the writer to wonder about the price people pay for renovations, if they choose to take down any walls, and how long the entire renovation actually takes.
As one user pointed out, the comments section of the post filled up with a wide range of prices. Factors that came into play were design, requirements, materials, and the size of the space.
“HDB resale. About $5k,” said one. “Just a fresh coat of paint, change lights to LED, minor works. No money, can’t do much.”
Another shared that she spent over $100k on renovations. “$105k, 4-room old resale, full revamp, hacking of several walls and shift doorways, sintered stone & customised carpentry,” she shared, adding that she spent an additional $50k on furniture, appliances and fittings. “Slightly expensive for this portion as I wanted a specific brand,” she added.
Things to consider if you want a home renovation
According to Income Insurance Singapore, given that purchasing a home is a long-term investment, many consider renovating to suit their needs and preferences. However, home renovation costs can vary, depending on a number of factors. For one, sizing and type. Generally, the bigger the home, the more you must pay to renovate it. Furthermore, it tends to cost significantly less to renovate a brand-new condominium, given that it already comes with fittings for the kitchen and bathroom.
Brand new HDB flats, on the other hand, will require fittings for the bathroom and kitchen as well as flooring and built-in cupboards, However, it can be significantly more expensive to renovate a resale flat than a brand new HDB flat. As for the extent of the renovations to be made, homeowners must consider whether they want any hacking, masonry, carpentry, as well as other works done. There is also the question of the kind of materials they want to use.
However, although customising your home costs money, there are ways you can still save, such as having a clear picture of what you want, carefully considering whether an interior designer or a contractor works better for you and the work you want done, opting for cheaper flooring materials like vinyl or laminate, and painting your walls.
At the end of the day, while home renovations can be costly, with careful planning and smart choices, homeowners can make sure that they stay within their budget, allowing them to build their dream home while keeping their spending manageable.
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