1 Fullerton Credit Pte Ltd is a licensed moneylender (License No. 100/2023) listed in the Registry of Moneylenders, under the Ministry of Law in Singapore.

Renovation Cost in Singapore: Factors to Consider in 2024

home renovation cost in singapore

With the ever-rising cost of materials and labor, giving your home a much-needed update can put quite a strain on your wallet. This year, the price could easily go up to 10-15% for each room type due to inflation, according to an expert.

Now more than ever it’s important to plan ahead when renovating your biggest investment. Learn how much budget you should prepare and what factors to prioritize to stay within your budget.

Average Cost of HDB Renovation in Singapore

The average cost of renovation in Singapore ranges from $41,600 to $48,400 or more, depending on the size, interior design, and theme of your space. Here’s the table detailing the estimated costs of a renovation in Singapore.

Type of Property Scope of Work Cost Range for Renovation*
HDB BTO Kitchen, wardrobe, and furniture $10,000 – $60,000
HDB Resale Full home design and furniture $30,000 – $100,000
New Condo Furniture only $10,000 – $60,000
Resale Condo Full home design and furniture $30,000 – $150,000

Data from Livspace

Factors that Affect the Cost of a Renovation in Singapore

Renovating a larger home can come at an increased expense, while resale flats also cost more to refurbish. Let’s dive deeper into the details below.

1. Size of your property

In a nutshell: the bigger the home, the higher the renovation cost. 

Condos are often more expensive to renovate than HDB flats. But with them comes the alluring possibility of fancy upgrades – double-height ceilings, split levels, and bay windows – not available in traditional public housing due to restrictions.

Room New Resale
2 Room $10,000 N/A
3 Room $14,500 $32,000
4 Room $17,500 $36,500
5 Room $19,500 $39,500

Data from Livspace

2. Scope of work

Carpentry, hacking, masonry, and disposing of materials are the major works you need to consider. Plumbing and electrical works also contribute to the expenses. Factor these into your plans so that everything fits perfectly within budget.

This breakdown of renovation costs offers an overview of how much goes into different services, helping you plan and visualize how much budget you should set aside for each service. 

Renovation Service Percentage of Cost
Carpentry 35%
Masonry 25%
Glass & Aluminium 11%
Electrical 9%
Hacking 7%
Ceiling Partition 7%
Painting 6%
Plumbing 5%

Data from Livspace

3. Status of your property

It may come as a surprise, but you could end up spending 40% more compared with new flats, according to Qanvast. This is because resale homes often come with built-in furniture and unorthodox layouts that require extra effort and money for renovation. 

4. Materials

Fancy tiling, ceiling detailing, platform beds, shelving, partitions, and customized furniture are some of the awesome ways to make your home stand out, but they will bring up the overall price of your renovations.

In addition to that, you should also consider the labor cost, such as installation and shipping fees. 

5. Interior Designer / Contractor

Should you hire an interior designer, an architect, or a contractor? Each offers its own unique level of services and associated costs; take a look at their key differences:

  • Interior designers (IDs) – Whether you want a Nordic, Scandinavian, or Industrial theme, IDs are experts at transforming any space into something truly special. While they specialize in design elements rather than actual renovation work, some do offer that service too. 
  • Architects – An architect can make your renovation dream a reality. They’ll listen intently to your ideas and work within the confines of any budget. Plus, if desired, they can even oversee contracting for the project, bringing it from concept to completion with ease.
  • ContractorsExpert contractors are at the helm of your project, ensuring that each and every aspect is completed to meet all desired expectations.
FAQ

Good to Know:

1. What is the typical expense of a kitchen remodel in Singapore?

The kitchen is where most of your budget will be spent. The typical expense of a kitchen remodel in Singapore ranges from $6,500 to $34,000, including hacking, masonry, hacking, and plumbing. 

2. What are the typical living room renovation costs?

On average, mid-range living room remodels in Singapore can cost from $6,000 to $53,000. Most of the budget goes to masonry or flooring and carpentry such as cabinets, shelves, and more.

3. What’s the average renovation cost for an HDB?

The expense of remodeling an HDB (Housing and Development Board) flat in Singapore can fluctuate greatly depending on the size of the project, the materials and finishes utilized, and the complexity of the plan. On average, a mid-range HDB remodel in Singapore can cost from $32,000 to $42,000. 

4. How might I find a trustworthy worker for hire in Singapore for my remodel project?

There are several contractors in Singapore. Among the most popular and best renovation contractors in Singapore are: 

Check their reviews and make sure to compare your options before working with one. 

5. What would it be a good idea for me to consider while picking materials for my redesign project?

When considering materials, take into account the durability of a material and its maintenance costs; select finishes that can last longer and require minimal effort for upkeep. 

Moreover, choose the material according to your personal taste and lifestyle. Sustainable or eco-friendly materials are also some of the best options. 

It’s best to consult with your contractor, ID, or architect about the materials you may use. It would ultimately depend on your budget. As mentioned above, fancy tiling, ceiling detailing, platform beds, shelving, partitions, and customized furniture can easily add up to your cost. 

6. Might I, at any point, revamp my home without burning through every last dollar?

You can definitely spruce up your own space without spending too much money. Some of the trends are: making unique mirror walls from IKEA items or adding plants to your space for a refreshing feel. You can also try to repaint your furniture, or simply change the lighting of your home to brighten up the mood. 

However, for revamping and major renovations, it’s still best to consult with an expert to avoid costly mistakes.

Final Word

When renovating your home, it’s best to think about what matters to you most– your lifestyle and budget. To ensure an informed decision, involve a professional in planning discussions. They can surely offer valuable insights into making renovations work best for you.

Key takeaways: 

  • The average cost of renovation in Singapore ranges from $42,000 to $48,000 or more, depending on several factors mentioned above.
  • The bigger the space, the higher the renovation cost.
  • Resale flats cost 40% more than new flats.
  • Condos are often more expensive to renovate than HDB flats. 
  • Whether you hire an ID, architect, or contractor, getting professional help will help you realize your dream home and avoid costly mishaps. 

Need help financing your renovation? Apply for a renovation loan with 1 Fullerton Credit. With a wide range of loan options and competitive interest rates, 1 Fullerton Credit can help make your renovation dreams a reality.

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