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Where to Spend, Where to Save - 10 Must-Know Tips for Renovating Your Resale Flat on a Budget

Written By
Julian Wong
Date Written:
23/7/2023

We get it. Buying a flat in Singapore is not a cheap expense, and now that you have your home, it’s going to cost more to renovate it too. Well, don’t worry because EZiD has you covered! In this article, we will share with you 10 must-know tips that will help you make smart decisions on where to spend and where to save during your renovation project. 

Credit: Interior Times

Renovating a resale flat can be a thrilling yet challenging experience, especially when it comes to managing your finances. With our expert guidance, you can achieve your dream home without breaking the bank. From prioritizing essential areas to exploring cost-effective materials and techniques, we will provide you with practical advice to maximize your budget. Whether you're looking to update your kitchen, revamp your bathroom, or transform your living space, our tips will empower you to make informed choices and create a stylish home that reflects your personal taste. So, let's dive in and discover how to renovate your resale flat on a budget without compromising on quality and aesthetics!

Assessing your renovation needs and setting a budget

Before you embark on your resale flat renovation journey, it is crucial to assess your needs and set a realistic budget. Take the time to evaluate the areas that require renovation and prioritize them based on their importance and your available funds. This will help you determine how much you can afford to spend on each aspect of your renovation project. Remember, a well-planned budget will be your guiding force throughout the process, ensuring that you stay on track and avoid overspending.

Once you have a clear understanding of your renovation needs, start researching the current market prices for materials, labor, and other associated costs. This will give you an idea of the expenses involved and allow you to make informed decisions when allocating your budget, instead of going by feel. Consider factors such as the size of your flat, the complexity of the renovation, and any specific requirements you may have. By setting a budget early on, you can avoid unnecessary surprises and adjust your plans accordingly.

Prioritizing your renovation expenses

When renovating your resale flat on a budget, it's essential to prioritize your expenses wisely. Determine the areas that will have the most significant impact on your daily life and the overall aesthetics of your home. You should also look at which area in your current home requires more upgrading—These areas should be given priority when allocating your budget.

For example, if you spend a significant amount of time in the kitchen, investing in high-quality cabinets and appliances might be a worthwhile expense. Similarly, if your bathroom needs an upgrade, allocating a portion of your budget to fixtures and fittings can greatly enhance both functionality and visual appeal

It’s important to recognize that prioritizing your expenses doesn't mean compromising on the quality of materials or workmanship. It simply means directing your funds towards the areas that matter most to you. By identifying your priorities early on, you can make informed decisions and allocate your budget accordingly.

Essential areas to spend on for a quality renovation

While it's important to be mindful of your budget, there are certain areas where it's worth spending a little extra to ensure a quality renovation. These essential areas have a significant impact on the functionality and longevity of your resale flat. Here are some key areas where it's worth investing.

Flooring

Opt for durable flooring materials that can withstand daily wear and tear. Consider options like laminate, vinyl, or engineered wood, which offer a balance between affordability and durability.

Electrical and Plumbing

Ensure that the electrical and plumbing systems in your resale flat are in good condition. If necessary, allocate a portion of your budget to update these systems to meet current safety standards.

Windows and Doors

 Invest in high-quality windows and doors that provide good insulation, security, and noise reduction. This will not only enhance the comfort of your home but also help reduce energy costs in the long run since you don’t need to turn on the aircon that much.

Storage Solutions

We know you love your hidden storages. Allocate some of your budget to incorporating smart storage solutions into your resale flat. Well-designed storage can maximize space and help keep your home organized and clutter-free.

By spending on these essential areas, you can ensure that your resale flat renovation is built on a solid foundation, giving you peace of mind for years to come.

Should I spend on an Interior Designer / Contractor?

We know that you want your renovation done at the lowest quote possible. However, while affordability is important, having reliable contractors is even more so. This is because poorly done work may require even more money to fix, resulting in even more frustration for both homeowner and wallet. That’s why we have prepared some tips to help you find the right professionals for your project!

Research and Compare

Take the time to research different contractors and compare their prices, portfolios, and customer reviews. Look for contractors who have experience working on resale flats and are familiar with the specific challenges they present.

Ask for Recommendations

Reach out to friends, family, or neighbors who have recently undergone renovations and ask for recommendations. Word-of-mouth is a very strong tool to help you find trustworthy contractors who have a proven track record.

Get Multiple Quotes

Never settle on your first quote. Obtain quotes from multiple contractors for your renovation project. This will give you an idea of the average cost and help you identify any discrepancies or inflated prices.

Check Licenses and Insurance

Ensure that the contractors you consider are licensed and insured. This protects you from liability in case of accidents or damages during the renovation process.

Interview Potential Contractors

Schedule interviews with potential contractors to discuss your project in detail. Ask about their experience, timeline, and payment terms. It's important to choose contractors who are reliable, communicative, and understand your vision.

Use a Platform like EZiD

If you wish to not just save money, but time as well,  you can use EZID to find the right interior designer for you! EZID connects homeowners directly to the top interior designers in Singapore. With escrow payment, homeowners have additional peace of mind, and channel that mental energy to envisioning their future home!

Achieving your dream home within your budget

Credit: Interior Times

Renovating a resale flat on a budget is not only possible but also an opportunity to explore creative solutions and make smart decisions. By assessing your renovation needs, prioritizing expenses, and finding cost-effective materials and finishes, you can create a stylish and functional home without overspending. Remember to allocate funds to essential areas, hire professionals when necessary, and maximize space with smart storage solutions. With a little creativity, you can update your resale flat without breaking the bank. So, embrace the challenge, unleash your creativity, and create the home of your dreams within your budget!

Share this article
Articles
/
Inspiration

Where to Spend, Where to Save - 10 Must-Know Tips for Renovating Your Resale Flat on a Budget

Written By
Julian Wong
Date Written:
23/7/2023

We get it. Buying a flat in Singapore is not a cheap expense, and now that you have your home, it’s going to cost more to renovate it too. Well, don’t worry because EZiD has you covered! In this article, we will share with you 10 must-know tips that will help you make smart decisions on where to spend and where to save during your renovation project. 

Credit: Interior Times

Renovating a resale flat can be a thrilling yet challenging experience, especially when it comes to managing your finances. With our expert guidance, you can achieve your dream home without breaking the bank. From prioritizing essential areas to exploring cost-effective materials and techniques, we will provide you with practical advice to maximize your budget. Whether you're looking to update your kitchen, revamp your bathroom, or transform your living space, our tips will empower you to make informed choices and create a stylish home that reflects your personal taste. So, let's dive in and discover how to renovate your resale flat on a budget without compromising on quality and aesthetics!

Assessing your renovation needs and setting a budget

Before you embark on your resale flat renovation journey, it is crucial to assess your needs and set a realistic budget. Take the time to evaluate the areas that require renovation and prioritize them based on their importance and your available funds. This will help you determine how much you can afford to spend on each aspect of your renovation project. Remember, a well-planned budget will be your guiding force throughout the process, ensuring that you stay on track and avoid overspending.

Once you have a clear understanding of your renovation needs, start researching the current market prices for materials, labor, and other associated costs. This will give you an idea of the expenses involved and allow you to make informed decisions when allocating your budget, instead of going by feel. Consider factors such as the size of your flat, the complexity of the renovation, and any specific requirements you may have. By setting a budget early on, you can avoid unnecessary surprises and adjust your plans accordingly.

Prioritizing your renovation expenses

When renovating your resale flat on a budget, it's essential to prioritize your expenses wisely. Determine the areas that will have the most significant impact on your daily life and the overall aesthetics of your home. You should also look at which area in your current home requires more upgrading—These areas should be given priority when allocating your budget.

For example, if you spend a significant amount of time in the kitchen, investing in high-quality cabinets and appliances might be a worthwhile expense. Similarly, if your bathroom needs an upgrade, allocating a portion of your budget to fixtures and fittings can greatly enhance both functionality and visual appeal

It’s important to recognize that prioritizing your expenses doesn't mean compromising on the quality of materials or workmanship. It simply means directing your funds towards the areas that matter most to you. By identifying your priorities early on, you can make informed decisions and allocate your budget accordingly.

Essential areas to spend on for a quality renovation

While it's important to be mindful of your budget, there are certain areas where it's worth spending a little extra to ensure a quality renovation. These essential areas have a significant impact on the functionality and longevity of your resale flat. Here are some key areas where it's worth investing.

Flooring

Opt for durable flooring materials that can withstand daily wear and tear. Consider options like laminate, vinyl, or engineered wood, which offer a balance between affordability and durability.

Electrical and Plumbing

Ensure that the electrical and plumbing systems in your resale flat are in good condition. If necessary, allocate a portion of your budget to update these systems to meet current safety standards.

Windows and Doors

 Invest in high-quality windows and doors that provide good insulation, security, and noise reduction. This will not only enhance the comfort of your home but also help reduce energy costs in the long run since you don’t need to turn on the aircon that much.

Storage Solutions

We know you love your hidden storages. Allocate some of your budget to incorporating smart storage solutions into your resale flat. Well-designed storage can maximize space and help keep your home organized and clutter-free.

By spending on these essential areas, you can ensure that your resale flat renovation is built on a solid foundation, giving you peace of mind for years to come.

Should I spend on an Interior Designer / Contractor?

We know that you want your renovation done at the lowest quote possible. However, while affordability is important, having reliable contractors is even more so. This is because poorly done work may require even more money to fix, resulting in even more frustration for both homeowner and wallet. That’s why we have prepared some tips to help you find the right professionals for your project!

Research and Compare

Take the time to research different contractors and compare their prices, portfolios, and customer reviews. Look for contractors who have experience working on resale flats and are familiar with the specific challenges they present.

Ask for Recommendations

Reach out to friends, family, or neighbors who have recently undergone renovations and ask for recommendations. Word-of-mouth is a very strong tool to help you find trustworthy contractors who have a proven track record.

Get Multiple Quotes

Never settle on your first quote. Obtain quotes from multiple contractors for your renovation project. This will give you an idea of the average cost and help you identify any discrepancies or inflated prices.

Check Licenses and Insurance

Ensure that the contractors you consider are licensed and insured. This protects you from liability in case of accidents or damages during the renovation process.

Interview Potential Contractors

Schedule interviews with potential contractors to discuss your project in detail. Ask about their experience, timeline, and payment terms. It's important to choose contractors who are reliable, communicative, and understand your vision.

Use a Platform like EZiD

If you wish to not just save money, but time as well,  you can use EZID to find the right interior designer for you! EZID connects homeowners directly to the top interior designers in Singapore. With escrow payment, homeowners have additional peace of mind, and channel that mental energy to envisioning their future home!

Achieving your dream home within your budget

Credit: Interior Times

Renovating a resale flat on a budget is not only possible but also an opportunity to explore creative solutions and make smart decisions. By assessing your renovation needs, prioritizing expenses, and finding cost-effective materials and finishes, you can create a stylish and functional home without overspending. Remember to allocate funds to essential areas, hire professionals when necessary, and maximize space with smart storage solutions. With a little creativity, you can update your resale flat without breaking the bank. So, embrace the challenge, unleash your creativity, and create the home of your dreams within your budget!

Share this article