You now have purchased an HDB flat and you would like to renovate it. Certainly, doing this is not a bad thing, particularly when the setup or old style does not meet your standards. It could be that you would like a different layout and even some additional features to meet all your family’s needs. Then, a renovation could just be the right thing for your property.
Major Expenses Involved
Even then, there are major expenses that accompany renovation projects. It is for this reason why people will get personal loans either offered by banks or moneylenders to boost their renovation budget. They could even have one moneylender personal loan in addition to another once the renovation funds run out.
Actually, when it comes to such projects the budget is limitless, and you should aim at being more careful of the budget and follow it all the way.
How can you do this? Even when you would like a fancy interior design, but your funds are not enough for it, then consider making compromises and opt for a simpler yet more economical option.
How then can you know the amount you need to have before you begin the whole renovation project? And how can you gain knowledge and create a decent budget for it?
Know the Costs Involved
Actually, you should be more practical concerning the real cost of your project and not compromise the quality of the outcome. Keep in mind that renovations do not come cheap.
Therefore, there are some expenses to consider such as carpenter, plumbing, interior design, and other things concerning the project. What can you do to get value for your money during a renovation project?
Here some guideline of things to consider as you prepare the amount you will need for the Reno project.
- Ensure That All Work You Need To Be Done Is Included In The Package.
Make sure you have thoroughly looked and ascertained that all the work you want to be done is covered in the package. Some of the common components involved in any renovation package include curtains ($1,000), cement screeding ($1,000), light fixtures and electrician fees ($4,000), window-grills installation ($500), and Air conditioning installation fees ($3,500). In total, this will be $10,000.
Though this amount is only an estimate, it is possible you will need to add $10,000 extra to this amount. This is the amount you should put aside of the given costs for the renovation package. However, ensure that the interior designer you hired gives you the actual details of the Reno package and not omit some costs.
You definitely wouldn’t want to get caught with a huge amount added onto the agreed cost, which will only put you in rather dire financial issues.
- Furnishing Expenses
If you have just moved into the flat, then possibly you do not have furniture from a previous property to use in the new house.
How do you ensure that furniture and other items are catered for?
It is, therefore, important to have an additional amount on top of the set renovation cost for purchasing furniture you will need. The sum will range from $10,000 to $20,000, based on the style, model, and brand of the furnishing you need.
Also, have an extra $10,000 set aside in case there are some items you would like to add to such as kids bed or additional storage space. With this, you can always adjust the cost accordingly based on the additional items of furnishings you want to acquire for your home.
- Choose Actual Photos Rather Than 3D Perspective Images.
In order to give you an idea of the sort of work they are able to offer you, most interior designers will show you some stunning photos in their portfolio. What sets them apart? Some of the interior designers will show you the actual images of their work while others present only a 3D perspective.
However, if you would like to have a clearer idea of whether you should hire the professional for your project. Then, it’s best you avoid those who present you with the 3D perspective since these may mislead you.
How then can tell apart a real photo from a 3D? Consider looking at the window to have a view from it. If it is a 3D, you will easily notice a breathtaking panorama from it – and many times, it is just too good to be true.
- Ensure Everything Is Covered.
How can you ensure that everything is included? The very least you could do is to ensure that the quote you get covers everything you need to be done.
All the same, there is no given package which can cover all conditions of clients. It could be you require more or less work done on your home, that’s why it is recommended that you list all the work to be done before signing the contract for your home renovation package.
Without confirming what you need to be done, you could be putting yourself up for dissatisfaction and an unpleasant surprise once the project is completed and handed over to you. Thus, it’s better you be clear from the very beginning.
Do ensure that you are given a quote depending on your unique needs and the actual dimensions of your home. Certainly, you do not want to get a ballpark amount that does not even seem realistic for that project you are considering.
As you consider starting a renovation project on your HDB flat, it is advisable that you make some preparations concerning the sort of work you need to be done, professionals you need to hire, and a working budget for the entire task.
Always arm yourself with the necessary knowledge and possibly get some inspiration by going over interior design websites and magazines. These sources can give you ideas which you would consider implementing in your home.
Above all, ensure that you have a working budget from the start, then do your best to adhere to it and even get the sort of results you wish to achieve for the value of your money.