Embarking on a home renovation journey can be both exciting and daunting, especially when it comes to revitalising a resale apartment. But did you know that renovating are sale tends to cost more than a new BTO or condo? Read on to find out the factors that contribute to the cost difference and tips to keep your budget in check!
Understanding the Price Gap: Resale vs. New Homes
In this case, we shall take the two most popular housing types for a comparison.
Renovation Costs Comparison for Different Property Types:
So why are Renovations for resale flats more costly?
1. Dismantling and Demolishing Works:
Resale renovations often involve removing existing built-ins and features left behind by previous homeowners. Dismantling and hacking works can be costly, especially when removing floors, tiles, and wall coverings, which adds to the overall renovation expenses.
2. Repairs or Refurbishing Work:
Due to wear and tear from previous occupants, certain areas of a resale home may require some forms of repairs or refurbishment. From fixing clogged pipes and air-con trunking to restoring damaged flooring, addressing all of these issues may add on significant cost as well. So be sure to check out the complications of the home prior to purchasing.
3. Unexpected Complications:
Resale homes may have undergone previous renovation works done by the home owner. However, usually, these visions may not align with your goals. Addressing these complications, such as rewiring electrical cables or rearranging outlets to suit your aesthetical needs, can incur additional expenses during the renovation process
4. Conserving “Old but Gold” Features
Aside from being bigger in size than a BTO or condo, older resale properties may possess delicate features requiring specialised attention, such as restoration work on ventilation blocks or traditional shutter windows. These features are considered rare features which requires specialised personnel to maintain and install, which may incur higher costs.
5. Larger Square Footage
As mentioned in the previous pointer, resale homes tend to have larger square footage compared to new homes. Logically, with more areas to work on, the renovation costs naturally increase. Consider the scope of your renovation carefully to align with your budget and needs.
6. Starting from Scratch
In some cases, owners look to completely revamp their new resale flat. In doing so, involves both stripping it down to its original state and designing and filling the space according to your preferences. This comprehensive process will undoubtedly be a costly process
Tips to manage your renovation budget
1. Prioritise Carpentry Works:
Reduce costs by opting for simpler finishes and loose but quality carpentry that can be replaced over time. Cutting down on built-ins helps save on renovation expenses.
2. Retain Original Features:
If certain existing features, like parquet flooring or ceramic tiling, are in good condition, consider preserving them with minimal repairs. Cutting back a little on your aesthetical needs may save you from the expense of replacing everything.
3. Assess Long-Term Plans
Are you planning to stay in the home for a long time? Or just making a property investment? Based on your plans, adjust the renovation requirements accordingly ,and consider more cost-saving options like option for more affordable counter tops or limiting major structural changes.
While renovating a resale home in Singapore may come with its set of unique challenges, with smart decision making from experienced interior designers, you can actually transform your space without breaking the bank.
If you’re planning to build your dream home without a headache, why not entrust the whole project with an Interior Designer that will take care of the entire process based on your needs and preferences? In doing so, may save your wallet while getting that dream home that you desired! Schedule a consultation with us today to learn more!
