Choosing Budget-Friendly BTO and Resale Flat Renovation Packages

Your home is more than just a place to live—it is a reflection of your unique personality and a sanctuary where cherished memories are made. As a homeowner, you know the importance of striking the perfect balance between aesthetics and budget when it comes to renovating your personal space. Whether you are embarking on transforming a Built-To-Order (BTO) flat or revitalising a resale unit, the quest for budget-friendly renovation packages that don’t compromise style is a top priority.

Throughout this article, we will unravel the secrets to selecting the ideal renovation package that perfectly matches your vision and financial goals –no more settling for cookie-cutter designs or compromising quality. We are here to equip you with the knowledge and inspiration to create a home that truly reflects your individuality.

BTO Renovation Costs in 2023

Get a glimpse into the anticipated renovation costs for 3, 4, and 5-room HDB BTO flats in 2023 as we delve into the key factors that influence budget allocations.

3-room BTO Flats

• • • • Median renovation cost last year: 41,600 to 48,400 SGD
      • Expected renovation cost this year: 45,800 to 55,700 SGD

As you might anticipate, the renovation costs for BTO flats increase as the size of your home increases. For a 3-room BTO flat, the estimated renovation cost typically falls within the range of 45,800 to 55,700 SGD. The relatively smaller size of these flats requires less material for furnishing, which contributes to their lower cost compared to renovating a 5-room BTO flat.

This cost variation gives you more flexibility in allocating your budget during your home renovation journey. You have the option to either set aside the extra funds for future use or indulge in more luxurious features, e.g., investing in built-in furniture or custom bathroom tiling, to enhance your home’s overall aesthetics and functionality.

4-room BTO Flats

• • • • Median renovation cost last year: 45,000 to 54,600 SGD
      • Expected renovation cost this year: 49,500 to 62,800 SGD

The estimated renovation costs for a 4-room BTO flat typically range from 49,500 to 62,800 SGD. This type of flat provides a comfortable amount of space, making it suitable for couples starting their journey together or Dual Income, No Kids couples.

If you have plans to expand your family in the future, consider furnishing your home in a way that allows for easy layout reconfiguration. For example, excessive built-in furniture in the extra bedroom is advisable. This well-thought approach enables you to transform and prepare the space into a baby’s nursery effortlessly and subsequently convert it into a child’s bedroom as they grow older. You can smoothly accommodate your family’s changing needs by keeping the design adjustable without requiring extensive modifications or additional expenses.

5-room BTO Flats

• • • • Median renovation cost last year: 50,000 to 60,000 SGD
      • Expected renovation cost this year: 55,000 to 69,000 SGD

The larger size of a 5-room BTO flat naturally translates to higher renovation costs. Typically, the expenses for renovating a 5-room flat range from 55,000 to 69,000 SGD, which can be quite a substantial sum considering the additional space available. It is important to be aware that the cost can further increase if you have a penchant for a design approach that leans towards a “more is more” aesthetic, where you desire a handful of furnishings and decorative elements.

When planning to renovate a 5-room BTO flat, it is best to be prepared for the higher budget required to achieve your desired design vision. Carefully balance your design aspirations with your financial resources to ensure a successful and worthwhile home transformation.

Resale HDB Renovation Costs in 2023

Gain valuable insights into the projected renovation costs for 3, 4, and 5-room HDB resale flats in 2023 as we explore the essential factors that impact budget allocations in the remodelling process.

3-room Resale Flats

• • • • • Median renovation cost last year: 57,000 to 62,400 SGD
        • Expected renovation cost this year: 62,700 to 71,800 SGD

Regarding the renovation costs for 3-room resale flats, recent data indicates a median cost range of 57,000 to 62,400 SGD from the previous year. However, with the anticipated trends for this year, homeowners can expect a slight increase in renovation expenses, with expected costs ranging from 62,700 to 71,800 SGD. These figures serve as a helpful reference for individuals planning to renovate their 3-room resale flats, providing an estimate of the budget allocation required to transform these homes into personalised spaces of style and comfort.

4-room Resale Flats

• • • • • Median renovation cost last year: 55,200 to 63,000 SGD
        • Expected renovation cost this year: 60,720 to 72,500 SGD

When it comes to renovating a 4-room resale flat, considering the past year’s data, the median renovation cost ranged from 55,200 to 63,000 SGD. However, looking ahead to this year, homeowners should be prepared for a potential increase in renovation expenses. The expected costs for renovating a 4-room resale flat are projected to fall within the range of 60,720 to 72,500 SGD. These figures serve as valuable insights for individuals planning to enhance their 4-room resale flats, providing an estimate of the budget required to achieve their desired design and functionality.

5-room Resale Flats

• • • • Median renovation cost last year: 70,500 to 85,000 SGD
      • Expected renovation cost this year: 77,600 to 97,800 SGD

Renovating a 5-room resale flat entails considering the renovation costs involved. Based on the median renovation cost from the previous year, the range fell between 70,500 to 85,000 SGD. Take note that this year’s projected renovation expenses for a 5-room resale flat are expected to increase. Homeowners should anticipate costs ranging from 77,600 to 97,800 SGD. These figures provide valuable insights for individuals planning to transform their 5-room resale flats, serving as a reference point for budget allocation and emphasising the need to plan and prioritise design choices carefully.

Why Costs Across all Room Types Saw an Increase?

Industry experts have observed several factors that could contribute to potential cost increases for homeowners in Singapore. Firstly, there has been a rise in material costs across the industry, that includes building materials, tabletop finishes, and tiles. Estimates suggest an increase of approximately 5 to 10%, while some professionals project a slightly higher range of 10 to 20%.

Another factor influencing renovation costs is the increase in labour expenses. The growing demand for renovations, particularly for Built-To-Order (BTO) flats, has created a greater need for skilled workers such as tilers and painters. Therefore, the cost of retaining these workers has also gone up.
Considering these factors, experts anticipate an overall increase in HDB flat renovation costs of around 10 to 15 percent in 2023 across all room types. However, prices are not expected to rise significantly year-on-year compared to 2022 due to steady renovation demand as more estates receive keys in 2023.

Regarding the impact of the Goods and Services Tax (GST) increase, industry professionals reassure homeowners that it is unlikely to have a significant effect on renovation costs. Many firms have been absorbing the increase, which means the total renovation bill may only see a maximum one percent hike.
Understanding these factors can help Singaporean homeowners like you anticipate potential cost adjustments when planning their renovation projects. It is important to consider these factors and work closely with reputable interior design firms to achieve desired results within budgetary constraints.

Handling High Renovation Costs and Buffering for Timeline Hiccups

Benefit from the following strategies to handle high renovation costs and buffering for timeline hiccups:

1. 1. 1. 1. Engage an interior designer early on
            You can tap into their expertise to help manage costs and provide budget-friendly recommendations that match your design needs and preferences.
         2. Be firm on the design
            Deciding on a clear design direction from the beginning can prevent costly changes and revisions down the line.
         3. Prioritise your needs
            Identify the key areas or elements that require immediate attention and allocate your budget accordingly.
         4. Try overlaying tiles instead of hacking them
            Doing this can save both time and money while still achieving a refreshed and updated look for your space.
         5. Reduce built-in furniture
            Cut cost and be more flexible by minimising the amount of built-in furniture, so you can adjust as your needs change over time.
         6. Wait for seasonal or clearance for big-ticket items’ discount
            Time your purchases strategically and take advantage of discounted prices on big-ticket items such as furniture, appliances, and fixtures.
         7. Consider excellent alternatives to materials
            Explore alternatives to expensive materials, i.e., opting for high-quality laminates instead of costly natural materials can provide a similar aesthetic at a more affordable price point.
         8. Declutter and sell
            Before the renovation, declutter your space and sell items you no longer need for a more organised space and some extra funds to offset renovation expenses.

Starting with Style+Space

Remember that the best interior design company is the one that understands your needs, offers a diverse range of HDB flat renovation packages, and prioritises affordability without compromising quality. Style+Space can be your trusted partner for budget-friendly BTO and resale flat renovation packages in Singapore.

Visit our website at www.style-plus-space.com/packages to explore our extensive range of renovation packages, including HDB BTO and resale flat options, as well as 2-toilet renovation package. Our experienced interior designers will guide you through the selection process, helping you find the perfect package that meets your needs and budget.

Have any questions about our renovation packages? Contact us now, and let us assist you in creating the home of your dreams.