How Much Does It Cost to Renovate a Condominium in 2020?
Home upgraders, take note! Here’s how much and how long you’ll need for a condominium makeover this year.
If you’ve ever attempted to renovate a home, then you know that it’s no small burden both on your time and wallet.
Depending on its size, renovating a new HDB flat in 2020 can cost between $38,850 to $52,000 and it’ll take approximately 6 to 9 weeks before it’s in a move-in ready state. But what about a condominium apartment? How much money and time does it take to renovate one? Find out below!
Interior Firm: Fuse Concept
1. The expected renovation cost for new condominium apartments
While you can expect the price tag for a condominium apartment to be significantly higher than an HDB flat’s, renovating a new condo unit is most likely going to cost you a fair bit less than it would for an HDB flat of the same size. (Surprise, surprise!)
Based on our figures, renovating a three-bedroom condominium unit (about 92 sqm/990 sqft large) could cost you anywhere from $30,000 to $33,500, whereas you’d most probably need to fork out $43,000 to $45,000 or more to renovate a new 4-room BTO flat that’s similar in size.
That said, the renovation bill for a three-bedder condo could even be as low as $28,000: Just take a look at this contemporary home at iNZ Residence, which had its renovation completed earlier this year.
Interior Firm: Flo Design
The reason for this difference can largely be chalked up to the higher price tags that condominium apartments command, which often covers the material and installation costs for flooring, surface finishes, kitchen/bathroom fittings as well as other essential home components that would typically come ready with a condo home – but not an BTO flat.
However, do bear in mind that the final cost also depends on the extent of your renovation. So, if you’re going for a complete makeover for your new condo home, it's likely that you will still end up with a higher-than-usual bill.
2. The expected renovation period for new condominium apartments
Likewise, you can expect the waiting time for a new condominium apartment’s makeover to be shorter than that of a similarly sized BTO flat; we estimate that it takes only about 6 to 7 weeks for a new condominium home to be move-in ready. Although once again, this period could be shorter (or longer) than expected, depending on your renovation requirements.
But perhaps more interesting is our finding that it’s possible for a new condominium home to be ready in as short as 4 weeks! (Yes, you read that right.)
Interior Firm: Charlotte's Carpentry
Take for instance, this Yio Chu Kang Road apartment; or this three-bedder at Hundred Palms Residence; or this Bellewoods home, which were all renovated under 6 weeks. BUT we must emphasise that this is only possible with a renovation scope involving minimal changes to existing fixtures/fittings.
3. The expected renovation cost for resale condominium apartments
Unlike new condominium homes, you can expect the cost of renovating a resale condominium apartment to be much higher. For instance, renovating a resale shoebox unit that’s under 50 sqm like this one at Haigsville Road will cost approximately $34,000, which is comparable to the estimated cost of making over a new 3-room BTO flat ($38,850).
Needless to say, larger resale condominium homes are going to be even more expensive to renovate – expect to fork out between $55,000 to $70,000 for a typical two- or three-bedder resale condo unit’s makeover.
Interior Firm: Schemacraft
These higher costs can be attributed to not just only the larger footprints of these resale homes (higher floor-to-ceiling heights on top of larger square footage), but also the need to rework additional property features. One example would be this family’s hotel-like condominium home at Lloyd Road, which needed a total revamp of its outdoor patio due to its bulky planter box and overgrown foliage.
4. The expected renovation period for resale condominium apartments
On average, renovating a resale condominium apartment will take about 6 to 8 weeks, but if you have a home that’s larger than the typical two or three-bedder unit (read: larger than 110 sqm/1180 sqft), like a penthouse or a dual-key unit, it’s going to take longer than that.
Naturally, one reason for this is the larger square footage of these units, but another potential factor is the complexity of dealing with unique floor plans and/or features in resale condominium homes.
Interior Firm: Anhans Interior Design
Houses with a non-squarish layout, such as this 130 sqm apartment at Telok Kurau, will take more time to plan and design around. So, in such cases, be prepared for a longer wait of about 10 to 12 weeks!
How to get your renovation done on time and at the right price!
Aside from giving you the lowdown on Singapore’s renovation scene, one of the things that we also do at Qanvast is help homeowners find the right interior designers based on key factors: your practical requirements, style preferences, and of course, budget.
Interior Firm: JC.M Interior
So if you’re looking for help to ensure your renovation gets done right, why not let us know? We’ll introduce 5 Singapore designers based on your specific needs. Plus, if you engage a recommended designer, you’ll also be eligible for the Qanvast Guarantee, which safeguards up to $50,000 of your renovation deposits!
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