Things To Take Note Of Before Renovating Your House

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With so many HDB around Singapore, such as HDB in Ang Mo Kio, getting yourself a new home is not difficult as long as you meet the criteria. Have you recently gotten yourself a new home? Are you planning to renovate your new home but you have no idea on where to start? Fret not, this article will guide you through your home renovation journey with ease. 
1. Find out average cost of home renovations 
The cost of home renovations varies depending on factors such as the age of property, type of property, type of materials used and the scale of project. For built-to-order (BTO) HDB, the average cost of home renovation would range between S$30,000 to S$50,000. As for a resale flat, it will then be 50% more than the cost of renovation for built-to-order HDB. On top of the amount that you spent for your new home, you will need additional money for home renovation. Hence, the importance of setting a realistic budget for home renovation. 
2. Set a budget 
It is essential to have a budget for your home renovation to prevent yourself from overspending on unnecessary things. You can always choose to use a budget planner to help you keep track of your available budget for your home renovation. Look at your current finances and set a budget accordingly. 
In addition, there are also renovation loans available if you require one. Most of the renovation loans available in Singapore allow you to have a loan of maximum S$30,000. Therefore, it is advisable to start saving early for house renovation before you start looking for a house. Do bear in mind that renovation can cost beyond S$30,000. 
If the renovation loan of S$30,000 is insufficient for you, you can consider getting a personal loan instead. However, personal loan comes with higher interest rate as compared to a renovation loan. A personal loan comes with a 12% to 15% interest rate as compared to renovation loan that comes with a 6% to 7% interest rate. 
3. Come up with ideas 
Next, you will need to start planning. Plan your ideal designs, the materials you prefer and so on. You can also start seeking for advises from your family and friends. This will help you to be on track throughout the renovation process. 
There are many websites on the Internet that you can visit to get some ideas on what design you prefer. Get yourself exposed to different kind of designs out there. From there you can decide on the paint color, lighting, curtains, electronics and etcetera. Narrow down the designs you like and discuss with your interior designer if you engage in one. Share your ideas with your interior designer on the style you prefer for you living rooms, kitchen, bedrooms and toilets. In addition, it is also essential to have a measuring tape with you all the time so you will be able to measure any furniture you like before buying. 
If you are not engaging any interior designers, make sure you look for reliable contractors. Always compare 3 quotes before you decide on which contractor to engage with. 
4. Precautions to take 
Before you sign any agreement with your chosen contractors, do your research on the credibility of the contractor. You can check from the Consumer Association of Singapore to see if there is any complaint lodged against the contractor in the past. Check for their past projects as well. When the renovation work starts, you will need to supervise the renovation progress from time to time. It is advised that you monitor closely on your renovation on a daily basis. In addition, with close monitoring allows you to avoid any misunderstanding between the contractor and you. It is important to have any mistake spot as early as possible. Rectification can also be done too reduce costs. 
These precautions are important to prevent being the one to lodge complaints. Not only it will allow you to monitor the progress of the renovation work, it will also save you from a lot of unneccesary work and costs in the future. 
5. Permission for alterations 
It is the owner’s responsibility to get permission from the Urban Redevelopment Authority for any renovation that will affect the external appearance of the building and result in increase of floor area

As for HDB flats, the Housing and Development Board has another set of rules that is catered for renovations. You will need to obtain prior permission from the Housing and Development Board before you go for any type of renovation work. 
In conclusion, always plan your budget ahead and try sticking to your budget to prevent yourself from overspending on your renovation limit. Besides, there are also many articles on the Internet on how you can renovate your house without breaking your bank account

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