With so many properties coming out
recently for the past few years, many people have also jump onto the property
buying bandwagon. There are also many condominiums for rent in the property market. There is also condominium rental
guide available on the websites that you can check it out: https://www.propertyguru.com.sg/singapore-property-resources/singapore-condo-guides/ultimate-condo-rental-guide
Whether it is for own stay or for
investment purpose, you will still need to renovate your newly rented home. As
the rental for condominium is not cheap, this article will guide you through
some tips on renovating your home with an affordable budget that does not break
your wallet.
1.
Set a budget
It is essential to have a budget for your
home renovation to prevent yourself from overspending on unnecessary things.
You can always choose to use a budget planner to help you keep track of your available budget for your home
renovation. Look at your current finances and set a budget accordingly.
Do bear in mind that renovation can cost
beyond S$30,000. You can consider getting a personal loan instead. However,
personal loan comes with higher interest rate as compared to a renovation loan.
A personal loan comes with a 12% to 15% interest rate as compared to renovation
loan that comes with a 6% to 7% interest rate. However, it is not advised to
spend too much on renovating a house that does not belong to you.
2.
Be realistic
Think about how much you can afford after
paying for your home. Once you have decided and set on your budget, stick to it
to prevent getting into a debt. Make a list of what you really need and what
you want for your home. You will need to be clear that items you want might not
be items that you need for your new home. Furthermore, they can add up to an
amount that might affect your budget. You may visit some forums online and read
the reviews of the items you want before you make a decision on whether to have
it or not.
3.
Consider DIY
Although we are not expert when it comes
to renovations, there are some things that can still be done easily on our own.
For example, you can easily assemble furniture that you have bought from IKEA
with the instruction attached. Moreover, you can also paint the walls on your
own without hiring any workers to paint the wall for you.
4.
Compare quotations
With so many websites in the Internet such
as Pinterest where you can look for ideas, it has
definitely make life easier by helping you to narrow down on the theme that you
would like for your house.
If you are engaging with an interior
designer, make sure you shortlist the interior designer before you decide on
which design firm to engage with. Make sure that you reach an agreeable price
and design with your interior designer. Inform the designer on what you are
looking for in your house and your expectations to prevent disappointment in
the future.
5.
Buy your own materials and supplies
Go for materials or supplies shopping on your own.
Materials such as lights, switch covers, paints and bathroom fixtures can be
easily bought over the stores. Buying your own supplies will allow you to save
on the cost of materials as you will be able to compare prices and buy only
things you need for the home renovation.
6. Refurbish
and reuse
Instead of demolishing and throwing out old furniture
that are still in good condition, why not refurbish them into something new
looking and reuse them? This will then save you quite a bit of cost from buying
new furniture. For example, instead of spending money on hacking your brick
walls and rebuilding them, why not just give them a good cleaning and give them
a new fresh look?
7. Sell
your old stuffs
You can always sell off your old stuff that you do not
want anymore (furniture, old clothes, electrical goods and so on) in the flea
market instead of just throwing away. Reselling your old stuff will get you
back some cash that you can use to purchase new items that you need for your
home renovation.
8. Buy
second hand items
One man’s trash is another man’s treasure. Not all
second hand items are trash. You can definitely get some good deals from buying
second hand items from thrift stores or garage sales.
9. Work
with friends and family
Although it might sound like free labour, but you can
always ask for help from your friends and family during house renovation. For
example, you can invite them over for a ‘painting session’ and ask them to help
you to paint your house. By having your friends and family’s help, you can then
save on labour cost.
10. Housewarming
gift registry
Most people will not urn up a house warming party
empty handed. Instead of having your guests go through hassles of getting
something that you do not want or already have, you can set up a house warming
gift registry to let your guests know what you want and what you do not have
yet, such as oven, cutlery, Tupperware, juicer, rice cooker and so on.
Although it sounds a tiny bit condescending, most
people actually appreciate this direction to save them on thinking what to get
for your house warming party.
In conclusion, always plan your budget
ahead and try sticking to your budget to prevent yourself from overspending on
your renovation limit. Besides, there are also many articles on the Internet on
how you can renovate your house without breaking your bank account.
1 Comments
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