Are you looking to renovate your newly bought home or have a home makeover? When it comes to renovation projects, it is an extremely tedious task that requires experience, planning, budgeting and connection.
Before we delve deeper into the various programs for an in house renovation loan in Singapore, it is essential to understand the primary purpose of a renovation loan. As mentioned above, a renovation loan is used for modification purposes only. In other words, individuals cannot use this loan to pay their home loan or mortgage or buy new furniture or appliances.
Some of the things you can do with the renovation loan include wall painting, external additions such as fences or roofs, bathroom renovations, carpentry, or even electrical jobs.
Benefits of In House Renovation Loan In Singapore
Renovation loans, especially those in Singapore, allow individuals to borrow more money, as it is based on the expected value of modification for their home. In addition, they had been allowed to restore the charm of their old home rather than buying a new home altogether.
Where to stay during home renovation singapore
You’re not sure where to stay during home renovation Singapore, but you know you can’t live in a construction zone! The right temporary housing can keep you sane during an already stressful renovation or construction process. Here are a few temporary housing options during a renovation.
- Find Short Term Rental Apartments.
- Rent an RV or Mobile Home.
- Stay in a Vacation Rental.
- Book an Extended-Stay Hotel.
- Seek Out Corporate Housing.
- Look Into Temporary Rental Homes.
- Stay with Friends and Family.
While renovating your house, you might want to choose a specific colour and texture theme for each of your rooms. This will help you decide on what kind of flooring you want, the colour of the walls and doors, furniture, curtain colours, and many other things.
Depending on the theme, it will be easier for you to choose the other various items. If you don’t have themes decided, the final products might not go well with each other which will just prove to be very distressing.
You will have to go through the hassle of replacing and changing stuff that you bought if they do not go well together. Consult with your interior designer, give him your suggestions, and then decide upon all the themes, colours, textures, and shades which you want right from the start.
Budgeting and Cost Estimation
When you want to renovate your house, the first thing that comes to your mind is how much will all that cost? When you estimate all the costs, it is very likely that you do not add various hidden expenses and many other costs that come up once you practically start with the renovations.
There might be some structural issues in the house which may not be evident at the start, but once the process of renovation goes underway, these issues might be uncovered which will need to be addressed.
Such kinds of hidden costs need to be kept in mind while planning your budget. Experts suggest that whatever you estimate the cost of renovation, add about 20% of it for unforeseen costs on top of your initial budget. That way, when the actual costs go up during a renovation, you will not feel stumped with the expenses over your cost estimation.
Understanding the Stress and Disturbances
When you plan to renovate your house, you should be prepared for all the stress and disturbance it is going to cause. It is a time-consuming and stressful task. Things do not go as planned. The cost and time estimations might turn out to be wrong.
So, if you are already prepared about them, it will be easier to accept them during the process. A good option is to start renovating stepwise. Start with one room, when it completes, then move on to the other.
That way, most of the disturbance will be focussed on that particular room and you can go about your daily routine in the other rooms.
You should properly plan on how you are going to manage stuff during the days they are being renovated. That way, it will be easier for you to accommodate yourself with the renovation process.
Making Realistic Plans
Whatever you plan on doing as part of your renovation, the plans should be realistic. You should not make very elaborate plans when you have very little time for renovation.
Similarly, thinking about starting a renovation or working on too many rooms at once may be far-fetched and unrealistic. If you make such plans, you are bound to get disappointed when they do not appear to be materialised.
Always make realistic plans and still prepare for the unexpected. If need to, you may need to ask for a consultation about interior design renovations are the kind of things that almost never go as planned and you should be mentally prepared to accept that along the way.
Hiring a Professional
One of the biggest things that people make while planning a house renovation is thinking that they can do it all by themselves. They may have less budget that they might not want to spend on a professional or an interior designer.
However, hiring individual contractors by yourself and trying to get the work done will be a very difficult job and it can put the whole process of renovation in jeopardy. You are spending a lot of money on the renovation and if things go wrong, it can become a very costly mistake.
Therefore, it is always a good idea to hire a professional interior design like us with good references. He will be able to plan everything and appoint and supervise the contractors so that all tasks are done as smoothly as possible.
Spending Too Much On Relatively Unimportant Stuff
During the renovation, some people spend more on furniture and lighting while not spending enough on the structure of the house, flooring, wiring, and plumbing. One thing which you should keep in mind is that the cosmetic stuff can be changed without much hassle even after the renovation is complete.
If you are going through the complete hassle of renovation, be sure to fix all the structural issues and flooring. Once the structure is complete, you can always add decorative items, furniture, and appliances gradually. Of course, if budget is not an issue, you can do the structural renovation as well as the cosmetic renovation in one go.
These are some of the tips which can prove to be very useful when you are thinking about renovating your house. You can only do renovation after a few years since it is a time-consuming and expensive task. You want to be sure that all your hard-earned money used for the renovation results in the best possible outcome.
Elpis is one of the best reviewed interior designers in Singapore. We also provide home renovation, condo interior design and HDB interior design services, as well as renovation package for homeowners in Singapore. Elpis will help you utilize your resources to the maximum and enable you to have the house of your dreams. So what are you waiting for, contact Elpis now!