BTO renovations in Singapore 2024: What you should know

Table of contents

• Understanding BTO renovation costs in 2024
• Detailed cost breakdown
• Factors affecting renovation costs
• Tips to lower renovation costs
• Additional considerations
• Conclusion

Home renovations in Singapore are a significant area of interest, particularly due to the increasing costs of materials and labour. For individuals intending to renovate their BTO flats in 2024, it is important to comprehend the associated costs and make adequate preparations.

This guide is intended to offer a thorough review of BTO renovation costs, the factors influencing these costs, and strategies for cost-effective renovation.

Understanding BTO renovation costs in 2024

Renovation costs for BTO flats in Singapore have seen an upward trend, with expected increases of 10-15% in 2024. Here’s a breakdown of the expected renovation costs:

Compared to 2023, where the average costs ranged from $45,800 to $69,000 depending on the flat size, the rise in costs is primarily driven by increasing material and labour prices, coupled with inflation.

Detailed cost breakdown

For a better perspective, here are the average renovation costs for BTO and resale flats in 2023:

• 3-room BTO flat: $45,800 to $55,700

• 4-room BTO flat: $49,500 to $62,800

• 5-room BTO flat: $55,000 to $69,000

Resale flats generally cost more to renovate due to the need for extensive overhauls:

• 3-room resale flat: $62,700 to $71,800

• 4-room resale flat: $60,720 to $72,500

• 5-room resale flat: $77,600 to $97,800

The comparison of renovation costs between 2023 and 2024 indicates a noticeable increase attributed to the escalation of material and labour prices. In 2023, the renovation costs for a 3-room BTO flat ranged from $45,800 to $55,700, while in 2024, the expected costs are between $34,200 and $52,100. For a 4-room BTO flat, the costs have risen from $49,500 to $62,800 in 2023 to $52,500 to $66,000 in 2024.

Read this: Renovation calculator: Find your ideal renovation budget range

Similarly, for a 5-room BTO flat, the renovation costs have increased from $55,000 to $69,000 in 2023 to $62,000 to $70,000 in 2024. This upward trend is consistent across both BTO and resale flats, with resale renovations also experiencing significant cost hikes. These increases are primarily attributed to ongoing inflation and higher prices for raw materials and labour, reflecting the broader economic conditions impacting the construction and renovation industry.

Factors affecting renovation costs

Several factors influence the renovation costs of BTO flats:

• Size of the BTO flat:
  • Larger flats require more materials and labour, naturally driving up costs.
• Who renovates your flat:
  • Choosing between interior designers (IDs), contractors, or design-and-build services impacts the cost. IDs offer design and project management services, while contractors are generally cheaper but require more oversight from the homeowner.

Read this: 5 strategies to maximise a tight budget for home renovation

• Materials used:
  • High-quality materials such as custom carpentry and parquet wood flooring can significantly increase costs.
• Scope of renovation work:
  • The extent of interior design and structural changes, including carpentry, hacking, masonry, and disposal of materials, also affects the overall cost.
• Renovation duration:
  • The expected renovation durations for BTO flats in 2024 are:
    • • 3-room flat: 8 to 10 weeks
    • • 4-room flat: 8 to 10 weeks
    • • 5-room flat: 8 to 10 weeks
    • Resale flat renovations typically take longer, around 10 to 12 weeks, due to varying conditions and potential hidden issues such as faulty plumbing or damaged walls.

Tips to lower renovation costs

1. Have a clear design direction:
   • Plan your design thoroughly using inspiration from Pinterest and local interior design websites. Popular 2024 trends include bold wallpaper, warm neutrals with green accents, and art-deco elements.
2. DIY design:
   • Consider designing your home using online tools like SketchUp and working directly with contractors. Ensure they are registered under HDB’s Directory of Renovation Contractors and apply for the necessary permits.
3. Overlay tiles instead of hacking:
   • Save costs by opting for laminate flooring instead of hacking existing tiles. Laminate flooring can cost up to $8 per square foot.

Read this: How to do up your home without taking a renovation loan

1. Source your materials:
   • Purchase materials and accessories independently from platforms like Taobao and Ezbuy to avoid additional charges from IDs.
2. Minimize carpentry works:
   • Reduce costs by choosing affordable furniture alternatives and minimizing built-in carpentry.
3. Paint your house yourself:
   • Save on printing costs by doing it yourself or applying wallpaper.

Additional considerations

• Custom-made furniture:
  • Discuss with your interior designer to balance quality and cost. Quality furniture is generally more expensive but lasts longer.
• Installation and delivery fees:
  • Account for these fees in your budget as they can add up quickly.
• Electrical appliances:
  • Allocate funds for essential appliances like fans, lighting fixtures, air conditioners, and kitchen appliances. Look for deals on platforms like Lazada, Qoo10, and Shopee.

Read this: Should Singapore homeowners renovate before selling?

• Time management:
  • Plan for potential delays and buffer time. HDB renovations typically take 10-12 weeks, while new condo renovations take about 8 weeks.
• Contingency fund:
  • Prepare for unexpected costs, such as moving furniture and purchasing sudden materials.
• Choosing a good renovation contractor:
  • Engage reliable contractors to ensure a smooth renovation process. Popular contractors in Singapore include Empire Works, Unimax Creative, Eight Design Pte Ltd, Reno Guys Pte Ltd, and M2 Decor.

Conclusion

Renovating a BTO flat in Singapore in 2024 involves meticulous planning and budgeting. It is essential to comprehend the associated costs, take into account the factors impacting these costs, and adhere to the provided recommendations to accomplish your desired home transformation within budget constraints.

Read this: HDB BTO June 2024: From Jurong East to Tampines, & more (HDB BTO June 2024 project locations and details)

Engaging a dependable contractor and setting aside a contingency fund is advisable for a more streamlined renovation process.

Disclaimer: This information is intended solely for general informational purposes. 99.co makes no claims or guarantees regarding the accuracy, completeness, or suitability of the information, including, but not limited to, any assertion or assurance regarding its appropriateness for any specific purpose, to the maximum extent allowed by law. Despite all efforts to ensure that the information presented in this article is current, reliable, and comprehensive at the time of publication, it should not be used as the sole basis for making financial, investment, real estate, or legal decisions. Furthermore, this information is not a replacement for professional advice tailored to your unique personal circumstances, and we disclaim any responsibility for decisions made using this information.

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