6 Budgeting Tips From an HDB Renovation Contractor
The majority of resale HDB flats in Singapore have already been occupied, which may have the potential drawback of being customised to the previous owner’s preferences rather than your own.
However, even if you consider HDB refurbishment to be a good idea, the notion of having to spend so much money on renovation packages can deter you from taking it on. You could believe that remodelling your property with interior design services is not really worth it.
We’re here to demonstrate that it is — consider renovating a HDB apartment as an investment rather than an expenditure. Additionally, with competitive pricing in Singapore, it doesn’t have to be prohibitively expensive. To obtain the most value for your money, there are strategies to maximise your budget when it comes to renovating your home.
1. Determine the prices and get ready
The next stage would be to obtain a pricing estimate for your project after deciding on the improvements you want to make. To obtain an approximate estimate of how much money you need to set aside, it would be advisable to seek remodeling quotes from at least three different approved HDB renovation contractors.
But keep in mind that the HDB Rules compel HDB owners to only choose a licensed HDB renovation contractor who is certified. You might also phone the free HDB Branch Service Line at 1800-225-5432 as an option.
Recall talking over your renovation ideas with your interior design firm or HDB renovation contractor, because they can be important enough to need a Renovation Permit. There are further aspects to take into account; for a comprehensive guide to make sure you don’t perform any prohibited work, check the HDB Renovation Guidelines.
2. Establish a sensible renovation budget
When building up your HDB remodelling plans, this is one of the most crucial steps. Decide in advance how much you are willing to spend, and then stick to it. Examine your supplies, labour needs, and remodelling schedule, and make sure that everything is priced fairly.
Inquiring about comparable HDB renovations that your friends or relatives have undergone is another simple approach to keeping your costs in check. Study their mistakes, then use what you’ve learned to create your own ideas for the design and renovation.
Stick to this general guideline to avoid going overboard: restrict your remodelling expenses to 20% to 30% of the market value of your unit so that there is a better likelihood of a return on investment for the future should you choose to sell.
3. Distinguish Between Needs and Wants for Renovation
The price difference between what you desire and what you need can frequently make the difference between going over budget for renovations and keeping within it. In light of this, try your best to reduce your spending. Avoid buying stuff you don’t actually need and make an effort to be pragmatic.
Additionally, it’s crucial that you properly understand the notion of sufficiency at this point. You’re better off buying anything else – as long as it works, and it works well – unless you’re ready to fork out the vast cash often required for what’s deemed to be the “best” choice.
4. Constantly oversee your renovation project
Start by outlining your expectations in detail: Establish a timetable for HDB unit renovations and a precise, clear budget.
At this point, it is crucial to understand how your money is being used. Keep all of your receipts if you’re performing the job yourself so you can keep track of what you’ve paid for. If not, request a daily breakdown of expenses and keep a reserve amount on hand, just in case.
By setting aside at least 20% of your overall budget, you can make sure that you don’t incur any unforeseen expenses and guard against the all-too-common trap of overspending.
5. Benefit from Effective HDB Designs
Work smart, not hard, as the adage goes. Your house upgrades may be justified using the same reasoning. For instance, rather than paying someone to knock down a wall to make your area appear larger, you may choose furniture or fixtures that save space.
6. Go DIY
Alternatively, if you’re a skilled person, you may consider improving your home yourself to raise its worth. Take on the simpler jobs yourself to cut labour expenses, such as painting the walls, installing shelves, or even assembling part of the (pre-made) furniture.
However, be sure to conduct your homework in advance to minimise mistakes and incur more recovery costs.
Renovating a HDB apartment is a time-consuming, costly, and labour-intensive process. However, if you can handle it well, the result is unquestionably worthwhile.
Exceed your expectations with ArtDecor Design Studio — Leading HDB renovation contractor
ArtDecor Design Studio, which has been operating in Singapore since 1970, has developed into a leading HDB contractor in the region’s interior design market. Our main competency is the exceptional completion of complex construction and remodelling projects that frequently go above and beyond clients’ expectations.
Our team of interior design specialists and HDB renovation contractors, with years of experience, is available to work with you whether you want to design the warm house of your dreams or maximise the interior space of your workplace. Get in touch with us today for the best renovation services in Singapore!