BTO vs resale flats: How much will your renovations cost

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There is a common misconception that renovating a resale flat and a built to order (BTO) flat costs almost the same. However, we beg to differ. Here’s why and what goes behind renovating a resale and a BTO apartment.

Renovating a BTO Flat

An empty floor plan that lets you design your home, BTOs usually comes unfurnished, and there are options for add-ons such as flooring. As such, you need to fill up the empty spaces from scratch.

A good budget to start with would be in the range of $20,000 to $50,000, depending on the area size, and how extensive the renovation works. Remember, the larger the area, the likely it will be more expensive. Also, flooring and carpentry tend to be more costly than other items in a renovation quote, so if you have a tight budget, your best bet is to minimise carpentry work, or go for the flooring options from HDB.

Renovating a Resale Flat

When it comes to a resale flat, the extent of renovation depends on the condition of the house. If the unit is relatively new or had undergone a renovation recently, then there isn’t a need to do a major overhaul, unless you decided to splurge to live in a home design that you truly like. Check out the renovation guidelines for HDB flats here.

If the unit has been around for more than 20 years, there is a stronger need for modification due to wear and tear, and for hygiene purposes. As such, additional costing such as teardown, hack, and/or replacement works may be required.

Typically, these are the areas to consider for renovation in a resale flat:

Note: all costs stated here exclude furnishings and appliances

Budget Hacks

Always do your renovation research so that you understand what you are paying for in your renovation. If you need a price list on the various works behind a renovation, check out our price guide here.

While it’s good to adhere to your budget, there is no need to be obsessed with being too cost-efficient. After all, a home is your love nest so create a space you’d love to be in, at least in the next 5 years!

This article was originally published on SingSaver.com.sg, the fastest growing personal finance comparison site in Singapore. Click here for the original article or visit the comparison site for more.

See also: things to know about buying your first HDB flat, 5 things newlyweds need to know before buying your first home, tips on saving up for your flat after the wedding, and cash-on-valuation facts for your resale flat.