Must-read tips for young couples!
For any young couple in Singapore, planning a wedding and a home renovation can definitely put a strain on your bank account. And, without proper planning of your finances, it’s easy to go overboard with replacing those new (but not-so-aesthetic) HDB fittings and building that huge walk-in closet that you’ve always dreamed of.
Plus, on average, it costs $42,600 to renovate a 4-room BTO in Singapore (which is definitely not a small sum). But, this doesn’t mean you can no longer have your dream home. The golden rule is that you have to avoid overspending — here are 6 ways you can do so:
Get a rough estimate on costs
First, consider your design and layout requirements. For instance, if you require plenty of carpentry works for your storage needs, these costs can easily add up.
Can’t get enough of that sleek, minimalist look? Before you go ham on recreating that Insta-worthy look for your home, make sure you do your due diligence by getting a rough estimate on how much things will cost. In fact, recreating a minimalist home is not as easy as it looks; it takes a lot of clever spatial planning to hide all that clutter away.
Next, take a look at your property type. Generally, renovating a resale home costs more than renovating a new one, since there are additional costs on refurbishing works.
Pro-tip: Try out the Qanvast renovation calculator to get an estimated cost on your renovation works!
Set aside a contingency budget
Renovations are never 100% perfect. As a gauge, set aside a rainy day fund of about 20% of your total renovation budget, so you are financially prepared to rectify any unforeseen problems (especially if you are renovating a resale flat).
Prioritise what to splurge vs save on
Keeping to a budget does not mean you have to strictly opt for the cheapest option every time. In fact, splurging on certain things will actually save you more money in the long run.
Pro-tip: Invest in durable and hardy materials (e.g. flooring) or energy-efficient appliances/fittings. This can help you save more in the long term, rather than replacing them frequently when they break down.
Reduce cosmetic works as much as possible
Try to prioritise function over form. We get it — arched doorways and terrazzo tiles look gorgeous, but do you really need them?
Reducing cosmetic works can help you save money on material and labour costs. If there’s something that you really want, try compromising instead. For example, instead of opting for terrazzo flooring (which is costly), you can opt for a terrazzo backsplash to add some colour to your kitchen instead.
Keep existing home fixtures
Are there things in the original home that you can retain instead of revamping it entirely? This holds true especially for resale homes — if there are elements that work fine or are still in good condition.
Get help from a professional interior designer
One of the biggest myths about hiring an interior designer is that your renovation will cost more due to their services. But the fact is, hiring one can even help you save on the overall cost of your renovation.
Let your designer know what your budget is. They’ll be happy to help you find ways to avoid overspending, like finding cheaper alternatives or more affordable materials.
Plus, if you’re a busy young couple, hiring an interior designer who helps you manage the overall project will save you some headaches from liaising with multiple points of contact (e.g. electricians, contractors, carpenters etc).
Find a reliable firm for your renovation!
If you’re looking for a reliable interior firm to help you with your renovation, but you’re not sure which is the right fit, just let us know! We can recommend you five trusted interior firms based on your requirements, for free.
About Qanvast: Create a space you love today with Qanvast, Singapore’s go-to renovation platform. Meet trusted interior firms, browse renovation tips and verified reviews — all in one convenient platform.