So, you’ve finally collected the keys to your new home, or perhaps you’ve decided it’s time to give your current space a long-overdue facelift. Congratulations! Now comes the part that keeps most Singaporean homeowners up at night: the budget.
In Singapore, a standard BTO renovation can range anywhere from $40,000 to $80,000, while resale flats often start at $70,000 due to hacking and plumbing works. Because these costs can be substantial, many homeowners find it helpful to compare loan options early in the planning phase. Securing a tailored renovation loan ensures you can afford quality materials without draining your emergency savings.
At Lendify, we believe transparency is the foundation of a stress-free renovation. Here is the reality of how your renovation dollars are sliced and diced.
Understanding the Core Costs of Your Home Makeover
Before diving into the specifics, it is important to understand that renovation costs are generally split between materials and labor. In a tight labor market like Singapore, the expertise of a skilled tiler or carpenter often accounts for a significant portion of your invoice.
1. Carpentry: The Heavy Hitter (30% – 40%)
In most Singaporean homes, carpentry is the largest expense. Custom-built-ins, like floor-to-ceiling wardrobes and kitchen cabinets, are labour-intensive and require expensive materials like high-pressure laminates and solid plywood.
- Pro Tip: To save here, consider off-the-shelf furniture for guest rooms and prioritize custom carpentry only for high-traffic areas like the kitchen.
2. Wet Works and Masonry (20% – 25%)
Masonry includes tiling, flooring, and “wet” construction, like building shower kerbs. For resale units, this includes the cost of hacking away old tiles and re-screeding the floor to meet HDB regulations.
3. Electrical and Plumbing (10% – 15%)
These are the “invisible” costs. You don’t see the wiring behind the walls or the pipes under the sink, but you’ll certainly notice if they aren’t done right.
- Electrical: Costs depend on the number of power points, lighting points, and data points you install.
- Plumbing: This covers the installation of heaters, toilet bowls, and sinks, as well as necessary waterproofing.
4. Hacking and Demolition (5% – 10%)
Before you can build your dream home, you have to tear down the old one. Hacking walls and removing old flooring requires professional labor and, more importantly, disposal fees.
Comparison: BTO vs. Resale Budgeting
The age and condition of your property significantly dictate your spending. A brand-new BTO is a “blank canvas,” whereas a resale unit requires a “reset” before the creative work begins.
| Expense Category | New BTO (Est.) | Resale Flat (Est.) |
| Hacking | Minimal | High |
| Carpentry | High | High |
| Plumbing/Electrical | Moderate | Very High |
Planning for the “Surprise” Factor
No renovation goes perfectly to plan. Hidden defects, material price hikes, or last-minute design changes can easily add 10% to 15% to your final bill. We always recommend setting aside a contingency fund so a minor setback doesn’t become a financial crisis.
How Lendify Can Help
A renovation is an investment in your quality of life, but the upfront costs can be daunting. Lendify connects you with MAS-approved loan providers and licensed lenders in Singapore to find renovation loans that are fast, secure, and transparent.
Ready to turn those floor plans into a reality? Check your eligibility with Lendify today and build the home you deserve.
