Market Sentiment Is Bad. Should I Renovate My Home Now Or Later? Need Advice

[atlantis 0]

I just purchased the 4 rooms flat (23 years old) and currently the house is in originate state with slightly renovation. Wall and floor tiles are original. Should I renovate first or later?

Currently the raw material is keep droping and the market sentiment is quite bad. I'm not sure whether I can get the cheaper cost of renovation said 6 months later. Need your advice. Thanks

[Bornstupid 0]

I just purchased the 4 rooms flat (23 years old) and currently the house is in originate state with slightly renovation. Wall and floor tiles are original. Should I renovate first or later?

Currently the raw material is keep droping and the market sentiment is quite bad. I'm not sure whether I can get the cheaper cost of renovation said 6 months later. Need your advice. Thanks

I would advise u dun do anything except some minor work if u think the current condition of the house is still livable. Things like painting and some decorative work can b consider.

Just my opinion.. Cheers...

[CutePinkElephant 0]

if for me, and if i hv money in my hand i will do it now, cause do it now or later the diff is not much.

but only do what u can afford.

[hihihi 0]

if cash flow is ok, then do it now. 6mths later, even though raw material cost may comes down abit, but still, the benefit will take a longer time to tickle down to the end user. Renovator maybe fighting for business, but quality maybe sacrificed also.

6mths later you will be inconveniened by the things that you bought... etc etc..

My take it to do it now.

[atlantis 0]

Thank you for the reply. The house condition is quite ok, probably need to do the wall plastering (rock stone wall currently), painting and rewire the electricity cable.

kitchen cabinet is in good condition. I hesitate whehter need to do the flooring and wall tiles or not though the condition is ok. The floor tiles and wall tiles are from the original state when the previous owner puchase as a new HDB which 23 years ago!

[Red Tiger 0]

Hi Atlantis,

It really depends on whether you can live with the current floor and wall tiles, intend to stay in there long, etc. I kinda agree with what hihihi says on the rest.

If you intend to renovate anyway, and just wish to wait for six months before u do so, you would be rather inconvenienced if you had already moved in. Unless you don't intend to move in any time soon and can afford to wait. Guess no harm waiting a bit then but must be careful on the contractor you choose eventually. Sometimes can be hard to know who is a trustworthy one who does not compromise on materials in down times.

I had a similar headache to yours except maybe I was luckier as my walls don't need plastering and I don't intend to re-wire the whole house (just partial). Mine is an even older flat (32-years) but am lucky the house owner takes care quite well and I still like the living room flooring :-) So intend to save money and just polish the floor plus renovate the whole kitchen.

So it's really the type of works u intend to do. No harm checking around to see whether a contractor suits you though now isn't a great time as the good contractors will likely be rushing works on projects which need to be completed before CNY.

Good luck and hope you find an ideal contractor eventually :-)

[atlantis 0]

Till now, I haven't move in yet. I collected the key 2 weeks ago. Probably I will look for basic renovation to save more money for rainy days.

I may post the picture here to let you guys have a look on the condition of the house.

[poseidon_gal 0]

I am interested in a 23 years old flat too.. like atlantis..the flat is in orginal state..

I intend to revamp the whole house..not in the hurry to move in coz getting married only end of next year..

So thinking if it is cheaper to look for contractors AFTER cny next yr.. any suggestions???

[jacq011023 0]

think whether now or later doesn't make a very big diff.

cos even if cost of material drop it wun affect us as hdb owner so much rather the developers. end users like us wun get the feel too much de.

i think we'll only get the feel after a few yrs de. jus like last time

reno prices n now. u only get to see e difference after a few yrs

[atlantis 0]

Heard from my friend that the ID company sales badly hit by recent economy downturn. Some of the customer rather cancel the contract and forfeited their deposit.

Nowadays bank also tight up their loan too.

[joyousonline 0]

but if they cancel, do they have to pay penalty.like 20% of the package price??

[atlantis 0]

As what I know, dont have to. They forfeit your deposit only. Few hundred dollar.

[1727 0]

I've bought a 13 years old resale flat. Ex owner also first owner. I'm not into retro-style so can't put up with the floorings and wanted to save cost. So we use laminated floorings instead for living & all 3 bedrooms.

Don't suggest you put off the reno till later cos it will be very messy especially if you have the intention to hack away the floorings & wall tiles 6 months later.

[kewin 0]

Wu lui now reno . dun wait.. mai tan

[shearerkk 0]

Agree with atlantis...

I checked with my ID at during the midst of the work today.. and he said too that market is slowing down... business is lesser now.... but the more affected one will be the bigger companies.

Anyhow... that means that reno price will be affected.... low demand.... more companies 'worry' more package should come out soon.

Sooo... if you are not planning to move in early.... within the next 6 months... it is good to wait..... infact... not necessary waiting... jus go around asking for quote... jus dont comfirm until U fiind a really good deal, with good design & good quality.

Jus my opinion