Renovation + Furnishing Cost For 4Rm Hdb

[soulocean 0]

Hi guys,

This is probably a commonly asked question, but how much should I budget for Renovation + Furnishing for a brand new HDB 4rm flat? Will not be getting HDB to do the optional stuff (internal doors, kitchen + living room tiling etc) in view of all the negative reviews of such HDB works.

Going for simple & minimalist theme without excessive work (wall hacking, bathroom overhaul, kitchen retiling etc) but will definitely go for customised carpentry works (kitchen cabinets, shoe cabinet, wardrobe etc), laminated wood tiling and air-conditioners for at least 2 of the bedrooms.

Looking at the link below, it says approx $45k... just want to verify.

http://www.vincentinteriorblog.com/r...pected-to-pay/

By the way, is it a common practice to borrow the max $30k for Renovation loan and is it based off 6 x combined salary?

Edited August 18, 2015 by soulocean

[pDark 1]

Hi soulocean,

factoring inflation and the increase in flooring prices (that article was in 2013), it's probably $50k plus minus. A good way to spread that budget is 2:1 i.e. your reno cost is about twice the furnishing cost. So when you decide to spend more on ID, spend appropriately lesser for furnishing.

As for reno loans, depends on how you go about, for joint application (max loan amt $30k), it's technically 6 x combined, but dependent on credit rating. For couples, there's the option that both apply for reno loan individually, effectively able to borrow $60k in total. However this is strongly not advisable, as I would always recommend one of the half to be as debt free as possible.

Is it a common practice? Can't really comment as there's no official statistics on this (although overall borrowing and credit debts have increased across the board). Personally, I would not recommend going for the max $30k loan as the pain of paying the installments, on top of the other monthly payments, would bite. See it more like a last resort - something to top up, than the first tool to go for.

[mummychua 4]

When will you be getting your new place? i did an overhaul with my resell 4rm last yr at $45K. with a new 4rm with kitchen tiling, piping, toilet and main door done up by hdb, i don't see it a problem to keep your reno below $40k or even lesser. there's lots of t-blog with new hdb flat owner spending last than $30k on their reno.

as for furnishing and furnitures, it will really depends on where you are getting them from. there's table that cost $5k and there's table that cost $500 including 4 chairs. Perhaps you could look into taobao.

i will not recommend getting any renovation loan if possible. interest rate is high and with new housing loan and mthly bills from having a new place, cash will be tight.

[soulocean 0]

Thanks guys, really looking to keep my budget small and avoid getting renovation loan.

But it seems very likely as there's still other cost to factor in, especially wedding cost. Hoping to borrow just a very small amount.

[tarzanboy 6]

Nowdays things are getting more expensive I get quotes from 8 id comapny will look for a few to final decided which to hire some with GST other do not from $38000-$50000 and most of them try to smoke you said this is expensive or our workmanship is different from others and if included with furnitures and electric items easily come to $60000

[mummychua 4]

Nowdays things are getting more expensive I get quotes from 8 id comapny will look for a few to final decided which to hire some with GST other do not from $38000-$50000 and most of them try to smoke you said this is expensive or our workmanship is different from others and if included with furnitures and electric items easily come to $60000

instead of id, maybe you could consider contractor?

renovation cost depends alot on your requirements. i did my 1st place with 7k, that is a re-sale and i kept alot of the previous owner stuff. for my 2nd re-sale, i hack the whole house and it cost me 35k. i have both place deco in very simple style, might not be magazine worthy but its very pocket friendly and very easy to clean.