Congratulations on buying the home you always wanted! The hassles involved in buying a home are at an end, but you now have a whole new set of problems when it comes to renovating your home. The important thing to remember before you start renovating your home is that there is no hard and fast rule in terms of the material that you want to use or the budget that you have set aside. Each renovation is unique, but knowing the average cost of renovating your home will help you plan your spending.
Most Singaporeans own 4-room flats, which is around 90 square metre (or 969 square feet). Taking this into consideration, let’s break down the renovation cost. Most renovations have seven major components that you will end up spending for.
Costs tend to vary depending on the material you are dismantling as well as if only a part of a wall or a room is being demolished. Breaking down a brick wall can set you back approximately S$55 per square metre, while walls with stone or tile finishings will cost around S$80/sqm to demolish. These expenses include labour costs as well. So, demolishing an area of 150 sqft at an average cost of S$60 means that your demolition expenses will amount to S$9,000.
Plumbing expenses include the supply and installation of sanitary fittings, from water outlets to sinks and taps. These costs can vary from S$275 to S$400 for every bathroom or kitchen you need refitted. If we consider an average cost of S$300 for 2 bathrooms and 1 kitchen, then you end up paying S$900 for plumbing related changes.
Light fittings, switches, power sockets, and wiring – all form a part of electrical expenses. Apart from costs incurred for re-wiring, the material you choose and the style of the electrical fittings affect how much you pay per fitting. This can range from S$50 to S$180. On an average, you may end up paying over S$4,000 for electrical work.
4.Flooring and tiling
Marble flooring or ceramic tiles? A significant portion of your remodelling expenses is dependent on the flooring type that you decide to go with. Keep in mind that the quality of the material that you choose will also affect how much you spend. If you are looking at tiling a large area, a small difference in the price per square meter can make a difference. Including labour costs, flooring expenses range from S$6 to S$30/sqft. So, you are looking at incurring an expense anywhere from S$7,750 to S$29,000, averaging around S$18,000.
Painting costs, like all other costs, vary depending on the size of the wall, the brand of paint you choose, the colour, and the labour costs incurred (if you are not painting the house yourself). On an average, painting expenses would set you back by around S$1,400, with a range of S$1,000 to S$2,000.
6 .Carpentry work
Built-in wardrobes, a television console, kitchen cabinets, and other carpentry work like shelves are must-have furnishings for many. Remember to discuss with your carpenter how much different surface finishes such as laminates will cost you. Knowledge of this prior to your carpentry order will help you save significantly on woodwork expenses. The per foot costs vary from S$100 to S$500. So, average carpentry expenses could be anywhere between S$15,000 to S$25,000, averaging around S$20,000.
Furnishing your home, especially if this is your first home, will involve appliance purchase costs. You may require or want to replace a refrigerator, a washing machine or an air conditioner. Depending on the features of these appliances and the brand that you decided to purchase, you may end up spending around S$8,000.
These renovation expenses add up to:
Of course, your home is an extension of your personality and style. So, if you are looking to remodel your home and give it a contemporary look or put a modern twist on a vintage style, your costs may change significantly. Don’t let this deter you from creating your dream home though, because a number of banks provide renovation loans to help you.
Renovating your home doesn’t have to be an expensive affair if you stick to a budget and plan your finances well. This way you can ensure that your home is indeed your castle!