What Drives Up (Or Down) Your Renovation Costs?
When the excitement of the prospect of getting your keys wears off, you start to realise that now is the time to start planning and budgeting for your home renovation. There are a number of factors that influence how much your home renovation will cost, our guide will help you to set out your budget and look at ways that you can cut down on costs.
Size.
The scope of the renovation in terms of size is going to play a big role in determining how much your renovation will cost. If you are updating the entire interior or exterior of your home, the cost of the renovation is going to be much higher than that of a renovation that only involves a single room. If budget is the only thing that is holding you back from pursuing a larger renovation, you can try re-purposing items or skipping minor points of the renovation in order to reduce the costs.
Type.
The type of home you have whether it’s an HDB flat, condo, or landed house will impact your costs. The renovation work for an old resale flat varies greatly compared to a brand new HDB BTO apartment, due to the costs of demolishing, repairing and refurbishing the old items the previous owner has left behind.
New condominium units will generally cost less to renovate than HDB flats because they already come with kitchen and bathroom fittings. On the other hand, a newly built HDB flat will need things like new floorings, walls, and built-in cupboards, in addition to kitchen and bathroom fittings.
However, a new BTO flat is less expensive to renovate than a resale flat. Due to outdated design features and fittings, older houses might not match your aesthetic. In the event that it has not been renovated in the past 20 years, you may want to do a major renovation. The plumbing and wiring might also need to be redone, as they might have worn out over the years.
Contractor Versus Interior Designer.
It may seem obvious but different companies charge different prices. Each also offers different services that will mean you need to choose between investing more of your time or more of your budget. Need help deciding between them? Check out our handy guide on how to choose between a Contractor or Interior Designer.
How Much Work You Want To Do.
Are you more or less satisfied with the way things are going? What if you wanted to knock down walls and build your dream house (almost) from scratch, with custom carpentry?
The amount of work you want to be done forms the backbone of your costs after the size of your home. You will spend a large portion of your renovation budget on:
Hacking means tearing down walls, rebuilding walls, or touching up walls. The labour costs will depend on the wall size, thickness, and the amount of hacking that needs to be done.
In masonry, new walls are built or old walls are repaired. The cost of more complex renovations masonry work is determined by the area size and the amount of labour. It also includes flooring, tiling, and wet works.
Carpentry: Do you want built-in wardrobes, kitchen cabinets, or desks? Then you’ll need to set aside a budget for carpentry. The cost for these customised solutions depends on the area size and amount of workmanship you’ll require.
Confused with renovation jargon? Check out 3 Key Renovation Terms You Need to Know.
Type of Materials You Want To Use.
What kind of materials would you like to use for your new flooring, cabinets, and countertops? The costs of renovations will be impacted by these options as well. Below we go into some of the cost differences between typical quotes and what you end up choosing.
Unforeseen Costs.
Electrical Works.
Once you start to get quotes from Interior Design firms, you may see that electrical works are missing from their quote. The costs of electrical works depend on the size of your home and the scope of work needed. Most electricians won’t be able to give you a quote without a site visit. Factor this in when you are budgeting for your reno. You may need a few electrical quotes to compare so set aside time for this. The cost of electrical works can add up if you add in additional power points, concealed wiring or if you decide to rewire your entire home.
Plumbing Works.
It is more common for ID firms to include plumbing work in their quotations, but some don't when they don't have contracted plumbers. As with electrical work, you'll need to get a plumber to visit the site before you can get an accurate quote.
Bathroom Accessories.
For installation of your toilet fixtures and pipes in your bathrooms, you may need to hire a plumber. Having your pipes concealed or moving the location of sinks and showers will also drive up the cost of your renovation.
Lighting and Fixtures.
You can't guess how much you'll spend on these since prices depend on factors like the size of fixtures you need, brands, functions, and materials. You will need to research and budget for the types of lighting and fixtures you want within your home. These include everything from Pendant Lights to Bathroom Sinks.
Materials for flooring and walls.
You're most likely to get a quote tailored to your budget when you request it from an ID or a contractor. If you have a strict budget, you can expect quotes for materials like tiles and vinyl to reflect the lowest possible price. Several options are available for $3/sqft vinyl and tiles, but note that the selection is limited at this price point. It becomes evident when you select your preferred materials - aesthetic and high-quality materials tend to have higher prices. Even after you've signed a payment contract, you'll likely be billed for additional costs incurred if you change your mind and opt for higher-priced materials.
Hinges and handles for carpentry and doors.
The question you might ask is why a cupboard would not come with hinges? The world operates this way. Some of the reasons for this are designed to reduce your costs, as hinges are more expensive from 3rd party sources. It’s best to clarify at the quote stage whether your carpentry quote includes hinges or not so that you don’t get a surprise later on.
Ceiling.
Detailed false ceilings tend to cost more when compared to normal ceilings. If you want features like rounded details, L-box or U-box shapes or cove lighting for your ceiling, expect the final price to shoot up.
Platform Beds.
Platform beds are extremely popular in Singapore, especially for compact bedrooms. This kind of bed does away with the necessity of having a wardrobe in the bedroom. However, the carpentry charges for this type of integrated and multi-functional furniture is higher than usual.
Shelving and Partitions.
Open shelves and niches (mostly with profile lighting) are an expensive design feature to have in your home. Moreover, installing partitions too tends to raise the final cost of renovations to a large extent.
Custom Furniture.
Furniture in unusual shapes is more expensive. Rounded furniture or furniture that has oblique/unusual shapes (like hexagonal, abstract etc.) costs more than furniture in common forms. The prior has more novelty and stands out as a statement. If that is your intention, the extra cost is a matter of choice.
Length Of Time To Do Your Renovation.
The longer your renovation takes to complete, the more it will cost. Renovations that are more complex often require more workers working for longer hours. If you want to save money, scaling back your renovation could help to keep labour costs down and also help you to finish more quickly. It is also a good idea to keep in mind that renovations can not go on for a variable period of time and must have a set start and end date.
Post-renovation cleaning.
Your renovation quote most likely includes protection for floors, general chemical cleaning and the cleaning of debris. This can add an additional $1,00 dollars to your quote. Ve warned though, it can take time for dust and debris to settle. You may need to budget for a professional cleaning firm to do a final clean before you move in. The other cost-saving option is for you (and your family and friends perhaps!) to have the time to clean every nook and cranny in your home yourself.
Final Advice - Always get an itemised breakdown of your renovation costs.
Obtaining multiple quotes is a good rule of thumb before signing on with a particular company, so you can sort out the details. Compare each quote right down to the unit price so that you can easily identify if you need to top up more cash for items and services that aren't always included, such as fixtures and installation.
Being a homeowner and renovating your home into your dream home is an exciting and monumental step in life. The hidden costs of renovation can make your plans seem futile, especially if you are not willing to pay for essentials like electrical works and home fixtures. It’s best to always have a budget set aside for unforeseen costs.
