Buying a home is a significant milestone and a major investment. Since you’ll likely be living in your home for years, it’s essential to ensure the renovation aligns with your taste and needs, especially if you’re purchasing a resale flat. But how much does it really cost to renovate a home in Singapore?
This guide explores the factors that influence renovation costs, practical tips to stay within budget, financing options to consider, and essential insurance coverage to protect your investment.
How Much Does a Home Renovation Cost in Singapore?
There’s no fixed answer, as renovation costs vary based on several factors.
Size of Home
The larger your home, the more you can expect to pay for renovations.
- Small homes under 100 sqm: Up to $30,000
- 3-room or 4-room HDB flats: Up to $50,000
- 5-room HDB flats: Up to $70,000
Type of Home
Your home type plays a major role in determining costs. New condominiums generally require less renovation than HDB flats since they come with essential fittings. However, newly built HDB flats need new flooring, walls, built-in cupboards, and bathroom fixtures.
Resale flats tend to be more expensive to renovate than new ones—sometimes up to 40% more—due to outdated designs and fittings that may require complete overhauls for hygiene and structural safety. Plumbing and wiring may also need to be redone.
Estimated renovation costs:
- Resale HDB: ~$67,000
- Resale Condo: ~$82,000
- New HDB: ~$44,000
- New Condo: ~$39,000
Key Cost Factors
Extent of Work
If you’re making only minor changes, costs will be lower. However, full-scale renovations—such as hacking walls, changing flooring, or installing custom carpentry—will significantly increase expenses.
Here’s a breakdown of major cost components:
Hacking
Removing walls, flooring, or built-in structures requires professional services. Costs depend on size, thickness, and required approvals. Debris disposal also adds to the cost.
Masonry
This includes erecting new walls, tiling, and flooring. Pricing is determined by area size and labor requirements.
Carpentry
Custom-built wardrobes, kitchen cabinets, and desks require carpentry work. The cost depends on the complexity of the design and materials used.
Other Works
Additional work may include:
- Ceiling modifications, beams, and partitions
- Plumbing (sink installations, pipe replacements)
- Electrical work (lighting, fan installations)
- Painting and finishing
Material Quality and Type
Material selection heavily influences costs. For example:
- Ceramic flooring: $3.50 – $9.50 per square foot
- Marble flooring: $15 – $47.50 per square foot
- Wallpaper: $1,500 – $2,400 per room
- Feature wall materials: $14.75 – $100 per square foot
Renovation Cost Breakdown: 3-Room HDB Flat
To give you a clearer idea, here’s an estimated renovation cost breakdown for a 70 sqm 3-room BTO flat with 2 bathrooms.
Living Room ($2,100 – $7,900)
- Partial hacking: $400 – $700 (removing cabinets, flooring, minor wall adjustments)
- Masonry: $1,300 – $3,000 (tiling, flooring, bookcase base construction)
- Carpentry: $200 – $3,400 (built-in TV console, shelving)
- Ceiling & Partition Work: $200 – $800 (minor adjustments to fixtures)
Kitchen ($8,900 – $23,200)
- Moderate hacking: $500 – $900 (removal of cabinets, windows, doors)
- Masonry: $1,300 – $3,900 (backsplash, cabinetry base construction)
- Extensive carpentry: $6,900 – $17,900 (custom storage solutions, cabinets)
- Plumbing: $200 – $500 (sink, taps, piping modifications)
Master Bedroom ($11,500 – $44,600)
- Hacking: $600 – $1,000 (removal of old wardrobes, flooring adjustments)
- Masonry: $2,800 – $7,000 (platform bed with built-in storage)
- Carpentry: $8,000 – $36,600 (custom wardrobes, built-in storage solutions)
Tips to Save on Renovation Costs
- Prioritize Must-Have Upgrades – List your essentials and allocate your budget accordingly.
- Reuse and Refurbish – Consider repurposing existing structures and furniture.
- Compare Contractors and Quotes – Get multiple quotes and check reviews before hiring.
- Opt for Cost-Effective Materials – Choose durable yet budget-friendly options.
- Plan and Stick to a Budget – Unexpected costs can arise, so plan ahead and include a buffer.
Financing Your Home Renovation
Renovation loans can help manage costs. Banks in Singapore offer renovation loans with interest rates ranging from 3% to 5% per annum. Homeowners can also consider personal loans or using CPF savings for specific housing-related expenses.
Why You Need Home Insurance
Renovating your home is a major investment, and ensuring it is well-protected is just as crucial. Accidents, damages, and unforeseen events can set you back financially, making home insurance an essential safeguard.
Types of Home Insurance Coverage:
- Fire Insurance – Covers damages caused by fire, which is mandatory for HDB homeowners.
- Home Content Insurance – Protects your renovation, furniture, appliances, and valuables against theft, fire, and water damage.
- Renovation Insurance – Covers damages to built-in fixtures and renovations due to natural disasters, accidents, or theft.
Recommended Home Insurance in Singapore
- Great Eastern HomeGR8 Essential – Covers renovations, home contents, and alternative accommodation in case of an emergency.
- Etiqa eProtect Home – Affordable plans with flexible coverage options, including accidental damage to renovations.
- FWD Home Insurance – Covers damage from fire, floods, and break-ins with competitive premiums.
MSIG Enhanced HomePlus – Comprehensive coverage for home contents, renovations, and personal liability.
Final Thoughts
Renovating a home in Singapore is a major financial commitment, but with careful planning, you can create your ideal living space without overspending. Additionally, protecting your investment with home insurance ensures you won’t face unexpected losses. By understanding cost factors, setting a clear budget, and securing proper coverage, you can achieve a stylish and functional home with peace of mind.
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