Singapore Island has high prices in the real estate market. So you might ask many questions. What is the cost of home remodeling in Singapore? Is home remodeling in Singapore as costly as the prices in the real estate market? Read on to find out. Home remodeling can improve the value and quality of your existing property.
Knowing why you want to renovate your property can help you understand the cost of home renovation in Singapore. Read on to find out the average cost of a home remodel in Singapore and questions to get answered prior to embarking on your remodeling project.
The Cost of Renovating a HDB Flat with 4 Rooms
32% of all homes in Singapore are 90 square meters in area. On average, according to Value Penguin, a HDB flat with four rooms can cost $55,000 to renovate. The cost caters for labor and the raw materials needed to completely renovate such a property.
7 Major Components of Renovating a Home in Singapore
- Demolition – Demolishing a HDB flat can cost S$6,000 at S$50 for every foot running across 120 feet in total.
- Flooring and Tiling – The average cost of flooring and tiling can be S$11,625. However, depending on the flooring material used, the cost for this element of renovation can range from S$8,000 to S$20,000.
- Plumbing – Plumbing work in the kitchen and bathroom can cost about S$875. The cost ranges from S$270 to S$400 for each bathroom and kitchen.
- Carpentry Work – Carpentry work is the most expensive at S$24,000, ranging from S$100 to S$500 for every square foot.
- Electrical – Wiring and other electrical work cost S$4,000, ranging from S$50 tomS$150 for every electrical piece.
- Paint – It costs S$1,350 to paint a HDB flat with four rooms. However, depending on the size of walls in your home and type of paint, you can spend S$1,000 to S$1,700.
- Buying Appliances – Home appliances such as washing machines, air conditioners, refrigerators, etc. can cost about S$7,500.
In total, the seven areas that require renovation in your home in Singapore can cost a total of S$55,350.
Choice of Flooring or Countertop Materials
The materials you choose to use in your kitchen and bathroom countertops and flooring can greatly affect the cost of renovating your home in Singapore. For instance, using vinyl in the bathroom instead of granite and laminate in the kitchen instead of marble can help you immensely save on costs.
Marble costs S$10 to S$15, vinyl S$6 to S$7.5, granite S$10 to S$20, laminate S$3.5 to S$4.5, tiles/ceramics S$3 to S$15 and parquet S$7 to S$14 for every square foot area. The costs span low end to average to high end quality for each material. On the other hand, installation labor costs S$3 to S$10 for every square foot area.
Work on some installation services and opt for the least expensive materials if you’re working on a tight budget and need to save money.
Cost of Home Renovation in Singapore based on Style
The cost of renovating your home in Singapore based on style can cost anything between S$30,000 for retro and S$82,000 for contemporary or transitional design styles; the latter styles are the most expensive.
Modern styles cost about S$65,000 while traditional go for S$71,000. The Scandinavian style goes for S$67,000, vintage for S$62,000, industrial S$60,000 and eclectic S$70,000.
Your Level of Involvement
You can opt for DIY home remodeling, hire professional contractors (or an interior designer) or even use a combination of the two to renovate your home in Singapore.
Find the right financing option to fund your home remodeling project. Unlike home renovation loans, personal loans attract higher interest rates. This is because homes are often used as collateral to secure the loans. Moreover, renovation loans are safer than home equity or personal loans.
It’s important to plan and budget for your expenses to ensure that you only spend what you have and can afford. Set aside 15% of your budget to act as security in case you surpass your intended budget. A home remodeling project in Singapore can increase the value of your property and make it more enjoyable to live in.
Contact us to apply for a home renovation loan for remodeling your home in Singapore.