Planning for your renovation is no easy walk in the park. It’s not just figuring out what interior look you want, and finding the right person for the job, there’s the whole other elephant in the room – budgeting.
A headless stumble in the dark, you might wonder where to even start. How much do the different types of works roughly cos – and what are they? Are the interior designer’s quotes too good to be true or do they break the bank? So many questions, but thankfully, we have the answers!
Introducing Qanvast Renovation Calculator – in three simple steps, and less than 5 minutes, you’ll have the magic numbers for your ideal renovation budget range.
Step 1: Provide Some Information On Your Property
Your house size, property type and the number of rooms you wish to renovate, can greatly affect the cost of your renovation. For example, the average condo renovation ($49,000) costs less than HDBs ($53,000), and resales ($74,500) can cost almost twice as much to renovate when compared to new homes ($42,000).
The Qanvast Renovation Calculator uses these variables to populate more accurate results that have been tailored your needs. Upon completion, you can even download a personalised renovation budget report to learn more about budgeting trends for homes similar to yours.
Step 2: Plot Out The Renovation Works You’d Like To Do
There are many components to renovation, such as painting, plumbing, wiring, among others – but the ones that would take up most of your budget? Masonry (flooring and tiling), carpentry and hacking. Extensive carpentry works (3 or more built-in cabinets or shelves) can range from $6,600 to $22,000 for your living room, while masonry work can run up to $10,000 in the same space, according to Qanvast.
The Renovation Calculator includes options to indicate how much work you’d like done – be it light, moderate or extensive. Each option includes an estimated budget range to give you an idea of how costs add up.
Pro tip: Focus on your priorities and allocate your budget accordingly! For those with tighter budgets, forgo unnecessary frills like:
- fancy mixed tiles
- platform beds
- complicated carpentry designs (e.g. circular shelving, intricate detailing)
- bathtubs, which require more workmanship and incur higher costs
You can also opt for some cost-cutting designs and more affordable materials! Check out some nifty money saving tricks interior designers use to lower costs.
Step 3: Account for Extra or Hidden Costs
Now that you’ve filled up the basic details required, decided on the types of works to be done. At this stage, the calculator should be able to give you an estimate of how much your renovation alone would cost.
However, extra works or hidden costs can really throw a wrench. Whether it’s last minute changes, unforeseen repair works or miscellaneous items like design fees or moving costs, its best to set aside 10 – 20% on top of your budget range for those what ifs.
Let’s not forget that you still have furnishings and appliances to purchase, which can set you back another $10,000 to $30,000 (or more), so remember to factor that in.
Renovation Calculator: Budgeting Made Easy!
Moral of the story? Renovations are costly affairs. To get a better understanding of the costs involved, and be better prepared financially, try out Qanvast’s Renovation Calculator.
A first-of-its-kind in Singapore, the calculator allows homeowners to get a transparent, accurate budget range for their personal home renovations, based on big data from over $20 million worth of local home renovation contracts (and counting).
Simply fill up the fields and a personalized budget is generated for you – in a few minutes! Each result also comes with a unique budget breakdown report which provides budget trends, budget allocations and useful renovation cost hacks, all to prep you on your journey to becoming a whip-smart renovator.
This article was first published on Qanvast, a local interior design platform for homeowners passionate about their home design. Download the free app to get inspired by thousands of local home ideas and connect with interior designers.
If you found this article useful, 99.co recommends How to do up your home without taking a renovation loan and 9 budget renovation hacks that’ll save you thousands!
Find the home of your dreams today at Singapore’s largest property portal 99.co!
About Qanvast
Qanvast is a trusted platform that connects homeowners and home professionals. Discover over 10,000+ home inspiration ideas, with renovation cost. Simplify your renovation journey by downloading the Qanvast app (available on iOS or Android).
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