If you're planning a renovation or are currently trying your hand at one, you'll know that it's going to take both time and money to turn a 3/4/5-room HDB flat into your dream home.
But how do you know if you have enough of these (limited) resources ready? By taking note of current trends, of course.
To lend you a hand, we've done the research by crunching the numbers from over 600 renovated homes to find out how much, and also how long it takes to make over a flat in Singapore on average.
Here are the numbers for both new and resale HDB flats of various sizes!
1. THE AVERAGE RENOVATION COST FOR NEW HDB FLATS
It goes without saying that new 5-room HDBs are going to be the priciest to renovate among the three HDB flat sizes, coming in at an average renovation cost of $52,100 for most homes.
On the other hand, it costs about $32,000 and $42,600 respectively to get a brand-new 3-room and 4-room flat renovated.
Expect most of your money to go into carpentry works, which can cost up to $23,700 for three or more new large fixtures (e.g. bedroom wardrobes and kitchen cabinets). So take note BTO owners!
2. THE AVERAGE RENOVATION PERIOD FOR NEW HDB FLATS
As the saying goes, time is money - so believe it or not, having an idea of how long your renovation will last can help you save some hard-earned cash.
For example, if you're renting a room before your home is ready, having this piece of knowledge could help you estimate your costs better (and possibly, help you set aside a 'rainy day' fund).
In general, renovating a new 3-room BTO apartment in Singapore should take about 6 weeks or even less with minimal renovation work done, 6.5 weeks for a 4-room HDB flat, and 7 weeks for a 5-room home.
3. THE AVERAGE RENOVATION COSTS FOR RESALE HDB FLATS
On average, depending on the size of your resale HDB home, renovating it will cost you about 25 per cent to 37 per cent more than it would for a brand-new BTO with the same number of rooms.
Renovating a 3-room resale home will cost you about $42,600, whereas it will take close to $58,500 for a 4-room home and $65,200 for a 5-room home.
Some factors that contribute to pricier renovations for resale homes are additional repair/restoration works as well as dismantling/demolishing costs, which can add up to a few extra thousands in the final bill.
4. THE AVERAGE RENOVATION PERIOD FOR RESALE HDB FLATS
Likewise, renovating a resale flat is going to take more time than for a new HDB home.
In general, when comparing between HDB homes with the same number of rooms, you can expect to wait about one week longer before your resale apartment is ready to move in.
Based on the figures we dug up, renovating a 3-room resale will take 7 weeks on average, 7.5 weeks for a 4-room, and 8 weeks for a 5-room home (or even longer, like in the case of this Ang Mo Kio jumbo flat that took 12 weeks to complete).
5. BONUS: THE MOST POPULAR STYLE AMONG HDB DWELLERS
While crunching the numbers for this piece, we also took the chance to find out the most popular interior design styles among HDB homeowners!
Based on our findings, it turns out that the Scandinavian look has fallen to third place (since our previous fact-finding piece) with contemporary taking the top spot.
In addition, the mid-century modern look - which traces back to the post-WWII period - seems set to be a trending style among HDB homeowners. Talk about a blast from the past!
This article was first published in Qanvast.