Do you have a budget for your renovation project? If not, it’s time to get one. The first step is to figure out how much money you can spend on the renovation. Write down what it will cost to do all the work and add in an extra 5% for unforeseen expenses.
For example, if the total cost is $6000, then you need at least $6000 plus $300 (5%). That gives you a budget of $6100 which should be enough for most renovations. Once you know how much money is available, start looking around for estimates from contractors.
Be sure they include everything: labour and materials including any permits that might be required by city hall or county government regulations and taxes such as sales tax or income tax if the contractor is a company.
With that in mind, don’t forget to add in sales tax when you get your estimates. Make sure that contract includes a specific start and end date.
You’ll also want to get your contractor to agree to terms, such as when payment is due - usually upon completion of each job so you don’t have to pay the whole amount at once. Another option might be paying in stages or adding an extra 5% on top for costs like these which will not be included in the estimate.
We have compiled 10 steps you should keep in mind when before doing a renovation:
1. Establish your budget.
When it comes to home renovations, it's important to establish a budget and stick to it. This will help you stay on track and avoid overspending. It's also a good idea to allow for some flexibility, in case there are unexpected costs.
2. Choose your renovation package wisely.
There are a number of different renovation packages available, so it's important to choose the one that's best suited to your needs and budget. If you're on a tight budget, you might want to consider opting for a basic package.
3. Shop around for the best deals.
It's always a good idea to shop around for the best deals on materials and labour. By shopping around, you can save a significant amount of money, which can then be used to afford other renovation expenses.
4. Get quotes from different contractors.
By getting quotes from different contractors, you can compare prices and choose the one that's best suited to your needs and budget. You might also want to ask friends and relatives for recommendations or browse online reviews before choosing a contractor.
5. Make sure you find out about hidden costs up front.
There are sometimes hidden costs during renovations, such as permits and inspections. It's important to find out about these costs up-front so that they aren't a surprise at the end of the project. This way, you won't have any unexpected expenses popping up when it's too late to change anything!
6. Read the fine print before signing contracts.
Another hidden cost to be aware of are extended warranties, which often have terms and conditions that are not visible until you actually sign a contract. Before signing any contract, make sure you carefully read all the small print so that you're fully aware of what's involved before getting locked into something!
7. Ask about guarantees/longevity of products being used.
Reputable contractors should offer guarantees for their workmanship, or at least stand by their product if it fails prematurely. If your contractor doesn't offer either of these things, then this should give you cause for concern! Make sure to find out about how long materials will last and under what circumstances they may need to be repaired or changed.
8. Ask for referrals and case studies from previous customers.
There are thousands of companies who offer BTO renovation services , so why would you choose one over the other? One reason could be past experience; if your contractor has proven their ability to complete the job well, swiftly and without fuss, then you probably won't regret choosing them instead of another company!
9. Be clear with your contractor about what is included in each section of work and any associated costs.
If you want an extension built on to your house, make sure that every aspect of this is discussed with your contractor right from the beginning. This includes aspects such as wall thicknesses, materials used (brick veneer or cavity wall etc), electrics, plumbing and so on. If something unexpected arises later down the line, such as a change in planning regulations, this can lead to huge stress and extra costs for you if it isn't correctly discussed from the start.
10. Check what will happen after renovation work is finished.
What happens next? Will your contractor carry out other associated work that they've suggested or recommended? For example: landscaping, paving & fencing, gutter cleaning, other decorating tasks etc. Also make sure that you'll be given any leftover materials from the renovation job for free or at reduced prices should you wish to do those little jobs yourself!
If you follow these 10 tips before choosing a BTO renovation contractor , hopefully they will help you find a reliable and trustworthy contractor and give you peace of mind that it won't be a nightmare experience.
Do your research, check the credentials of your renovation company and don't forget to do plenty of background research on the companies behind the products & materials as well as those who'll be doing the work (for example: checking their AVA or ACRA licence for renovation works etc).
Here are some of the most Frequently Asked Questions about renovating your BTO on a budget:
(Q) How can I save money on my renovation package?
(A) There are a few ways to save money on your renovation package. One is to choose materials that are less expensive, but still look good. You can also save money by doing some of the work yourself, such as painting or tiling.
(Q) What are some affordable materials that I can use for my renovation?
(A) There are many affordable materials that you can use for your renovation. Some examples include laminate flooring, vinyl tiles, and ceramic tiles. You can also find affordable furniture and appliances at stores like Ikea or Qoo10.
(Q) How can I save money on my renovation contractor?
(A) You can find affordable contractors by looking at listings on sites like our or other similar, or asking for quotes from more than one contractor before choosing one. You can also save money by working with a smaller company and doing some of the work yourself, such as painting and tiling.
(Q) What should I do if my budget is too small?
(A) If your budget is too small, you might want to scale down your renovation project, what you can change will depend on how much money you have. For example, if you only have $20,000 left in your budget after paying off your housing loan and other expenses (not taking into account the renovation cost), you might want to do smaller things like change the flooring and paint the walls.
(Q) Where can I find more information about how to renovate on a budget?
(A) If you want to find out more about how to renovate your BTO unit on a budget, you can read up on renovation online, or ask for help from people who have renovated their own homes. You can also look for inspiration by checking out other people's home improvement projects on sites like Pinterest. Also, don't forget that We is always here to offer advice!
(Q) Where do I go to see what past home renovation projects are done in Singapore?
(A) You can check out some of the past home renovation projects that we have completed on our website by clicking here. You can also get in touch with us to find out more about our renovation services.
(Q) Do you have any tips for staying within my renovation budget?
(A) Here are some tips for staying within your renovation budget:
- Stick to your original plan and don't be tempted to add on extra features or change your mind about things half way through the renovation project
- Shop around for affordable materials and contractors
- Try doing some of the work yourself, such as painting or tiling
- Get in touch with Renodots for advice! We can help you find affordable solutions that will still give your home a fresh new look.
If you're looking for some affordable materials and contractors to use in your renovation, We are here to help. You can find more information on how we can help you renovate on a budget by reading up online or asking the people who have renovated their own homes.
Check out our past home renovation projects done in Singapore on our website! If all of this sounds intimidating and you want help enacting these principles, let us know. Our team of experts are ready and waiting to partner with you, to help all your needs!
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