The cost of home renovation in Singapore will depend on the size of your residential property and scope of the project, but a good benchmark is a four-room, 90-square metre HDB flat.
These apartments comprise 32% of all houses in the city-state. For this year, the average price of renovation costs around $55,000 for raw materials and labour. When planning a home improvement project, interior design services are also necessary especially if you plan to sell the property in the future. It is also important to consider the security detail of your preferred design against theft, fire and other unwanted scenarios.
Factors Affecting the Price
Aside from interior design, there are seven factors to consider for determining the overall cost of a renovated house. These comprise new appliances, demolition work, electrical systems, plumbing, flooring and tiling, paint job and carpentry services. Carpentry accounts for the biggest share of expenses for remodelling a four-room HDB flat at an average of $24,000. If you need to tear down walls, the average cost of a demolition job is $6,000.
New floors and tiles cost $11,625 on average, although it may range between $8,000 and $20,000 depending on the type of materials. New appliances cost $7,500, so think whether or not you need to buy new equipment. Otherwise, you could save money by keeping the old ones. A new coat of paint may cost $1,350, while the prices of plumbing and electrical work cost $875 and $4,000, respectively.
Types of Interior Design
In some cases, the biggest expense for remodelling a house in Singapore involves the type of interior design work. A contemporary or transitional style is the most expensive at an average of $82,000 each. On the other hand, a retro style for a four-room flat is the cheapest at an average of $30,000. Industrial styles are slightly more expensive than the general average at $60,000, followed by vintage styles that cost $62,000.
Other styles include modern, traditional, Scandinavian and eclectic designs, which cost between $65,000 and $71,000. Whichever design you choose, remember to pick one that suits your lifestyle and complements the security of the premises.
Home Security Details
There is an estimated 0.5% probability of your home being robbed in Singapore within a year based on police data covering more than 6,200 cases. You may assume that residential communities are generally safe, but this does not mean that crimes and accidents never occur.
This is where home insurance plays an important role, along with an efficient security detail for your house. It is better to have a separate policy for renovation work, which ensures coverage should there be any unpleasant incidents arising from the project.
It is quite expensive to remodel a house in Singapore, but this pays off in the future since it significantly increases the value of your property. Even if you have no plans of putting it on the market, a remodelled house improves the quality of life at home. How much are you willing to pay for a renovation project?