When planning a renovation project, it’s important to anticipate any potential unexpected costs. It may be helpful to get a few estimates from different contractors. It is only fair to know all the facts before you begin renovating, including when you want to renovate your condo in Singapore.
If you think that there is one perfect answer, it means that you have not been paying attention to the local real estate market. This is basically because the final price of the renovation is a function of a variety of services and products. Renovation is an expensive process, but if you know what you’re doing, it can be done in a cost-effective manner.
The latest update on condominium renovation cost
In 2022, HDB flat homeowners will have to pay more for their renovations and wait longer for the work to be done because of reasons such as manpower shortages and rising materials costs due to Covid-19 and the latest economic crisis.
This question applies to both condo dwellers and renters, so you need to understand the exact increase for each apartment, condo, or house that you’re buying. Here are some estimated median renovation price figures for new and resale condos, plus industry insights on what to expect in the coming months.
How much will it cost for new and resale condominiums to be renovated in 2022?
Comparing prices from past years and data on the cost of condo renovation projects that will be completed in 2021, the expected average renovation costs for new and resale condos will be higher in 2022.
|Property type||Expected median renovation cost in 2022|
|New condominium||$30,000 to $40,000|
|Resale condominium||$60,000 to $72,00087|
According to median home prices or renovation price list, you can expect to spend roughly $30,000 to $40,000 to renovate a new condo unit and $60,000 to $72,000 to renovate a resale condo. On a year-on-year basis, these estimated figures show a 20% to 25% increase in cost for new condominium renovations and a 3% to 10% increase in home makeover prices for resale condos.
How long will the renovations of condominiums in Singapore take?
If you are a condominium homeowner in Singapore, you will have to wait longer for your renovation to be completed, especially in 2022.
|Property type||Expected median renovation time in 2022|
|New condominium||6 to 8 weeks|
|Resale condominium||8 to 10 weeks|
According to industry estimates, the average median waiting time for a new condo renovation package is 6 to 8 weeks. Condo renovations typically take 8-10 weeks to complete, so the sooner you start, the sooner you’ll be back to enjoying your new space. A renovation of a condominium can be a challenging and lengthy process. Some units are designed so that they may have to be torn down and rebuilt, so you should plan to invest more time and resources than normal.
How to reduce your condo renovation cost?
Hire a contractor or an interior designer
The first step in home renovations is hiring a contractor. While it is true that hiring an interior designer costs more than hiring a contractor to help with your renovation, the reality is that you get a better value for your money if you hire an experienced interior designer like 9Creation. They do this because they are project managers and will care for the entire home renovation project.
Over time, our expert team of designers and illustrators will adapt your design to fit your requirements. They’ll find furnishings, furniture, and fittings to complete the look. Your builders will be able to manage it. They will let you be in charge of the project.
Don’t use expansive flooring
This will cost you a lot of money, as flooring materials are costly. For this type of project, you’re looking at a price tag of up to about SGD 50 per square foot. Getting flooring that looks like wood or marble is easy when you install laminate or vinyl flooring.
This product costs a fraction of its high-priced counterparts. They’re also cheaper than a lot of other options. They’re easier to clean, which makes them much more interesting. They have realistic finishes that mimic the appearance of real wood. You can’t tell the difference!
The most effective way to save money when renovating is to repaint your walls rather than wallpaper or plastering an accent wall. You’ll save money by using paint, and you’ll look at your walls differently after you paint them. Stone and wallpaper are notoriously difficult to remove and may need another renovation work to alter up.
Make your condo renovation easier with 9Creation
A professional interior design service, such as 9Creation, can make your home listing one of the best investments in getting more buyers into your home. By creating an interior design and a 3D representation of your home, you’ll get the best visualization of your long-last investment before making the most significant decision. Get yours with 9Creation here to prevent unwanted results that will waste your money and time.
What are you waiting for? 9Creation has many condo renovation package Singapore that perfectly crafted for every budget situation.