Collecting your keys soon? It's time to start planning for your renovation! Purchasing and putting together a home calls for wise decisions to be made, especially so you don't break the bank. Together with BankBazaar, we bring you a list of tips and tricks to help you balance your budget easily.
1. Plan your budget (and stick to it)
Interior Designer: Voila
Decide exactly what you need for your new home and list out the cost of each purchase. With this budget in mind, stick to it as closely as possible. However, there may be certain unforeseen circumstances that may cause you to exceed your pre-planned budget due to. With that in mind, be sure to give yourself an allowance of about 20% on top of that pre-planned budget so that you don’t end up with an incomplete bathroom.
Not sure how much to set aside for your renovation? Try Qanvast's Renovation Budget Calculator for an estimate!
Interior Designer: Livinci Interior
Experience is the best teacher - read up on what people have done and learn from their experiences. Read reviews on interior designers and look at their portfolios. It is important to note that some interior designers are more skilled in certain home types than others. Try to get at least 3 quotations for your ideal home. Compare them before deciding on a designer.
3. Plan your purchases
Interior Designer: Our Interior
Home fairs attract a range of merchants selling products you might need, which can be a great place to check out! Warehouse sales are also a place to get furniture at a bargain. Compare prices across different merchants before your eventual purchase.
If the purchases are not urgent, wait for discounts during occasions like the Great Singapore Sale, National Day, Black Friday, Cyber Monday or Christmas. Keep on the lookout for cyber sales throughout the year where retailers will have discounts that can save you some money.
For the true bargain hunters, head over to Johor Bahru to get lights and furniture at a fraction of the cost. Tampoi Lighting Centre is immensely popular among Singaporeans, and JC Bespoke is great for good quality teak furniture.
4. Differentiate your needs and wants
Interior Designer: ID Sense
Amidst the excitement of preparing for a new home, we tend to fail to consider what we really need. Do you really need that S$800 bright red professional mixer, or does it just look great on the kitchen counter?
Pro tip: Consider if your purchase will make your home a more functional one. If not, you may want to wait till you’ve moved into your home to really know. In that way, it may be wiser to leave some of the nice-to-have purchases till after you’ve moved in.
Interior Designer: EMS Renovation
Try assembling your own furniture instead of paying someone to do it for you. Just imagine that sense of satisfaction after you’re done! Of course, be discerning as to what you can do. As a general rule of thumb, it might be wise to leave the specialised tasks, such as installation of gas pipes, to trained professionals.
Furniture stores such as IKEA are good bets to get the furniture needed at fairly reasonable prices. Check out Youtube’s home renovation videos, Pinterest or ikeahackers.net for nifty DIY tips.
6. Draw inspiration from others
Interior Designer: Forefront Interior
The Internet is full of inspiration, from renovation saving tips to creative, style tips! Of course, Qanvast has thousands of local home ideas that'll pique your interest - a real treasure trove of ideas on personalizing your home!!
7. Decide on a cost-saving theme for your home
Interior Designer: D5 Studio Image
The design of your home plays a role in your renovation cost as well. A home with a minimalist theme is likely to be cheaper to renovate than an apartment that is intended to exude a sense of opulence. Having said that, it doesn’t mean you have to compromise on style: after all, simplicity is beauty.
8. Do away with unnecessary frills
Interior Designer: The Makers Design Studio
It is important to focus on what is functional for your home. For example, it might not be very practical to get carpets if you have young children or pets at home. At the same time, wallpaper may not be the best idea in Singapore’s tropical climate as it causes the wallpaper to discolour and replacing wallpaper can be a little pricey as well.
9. Refurbish or reuse when possible
Interior Designer: Luova Project Services
If you are moving into a second-hand home, consider what can be kept, such as structural elements or pieces of furniture. Refurbish them if they are still functional and in relatively good condition. If you have current furniture, consider what can be reused and brought to your new home.
For first-time homeowners, it is important to note that while you may want to have custom carpentry throughout the house, you won’t be able to bring these pieces to your next house if you plan on moving again.This article was contributed by BankBazaar.