Many things factor into when you need to rebuild your land. This includes whether it was recently damaged by fire or flooding, how long it’s been vacant, and how much insurance it’s covered under. But there are some other factors you’ll want to consider that aren’t as apparent. Before you start building your new dream home, there are a few things you should know first. Whether you’re planning to build a new home, renovate an existing one, or simply renovate your backyard, the following five important things will help you get started on the right foot.
The things to keep in mind when rebuilding a property in Singapore
Find out if your property can be rebuilt
In Singapore, landed properties can only be rebuilt if they fall under certain conditions. For example, the property must be zoned for residential use, and the plot ratio of the land must allow for redevelopment. You can check with your local planning authority to see if your property meets the requirements for redevelopment.
Knows the rules and regulations
If you are planning to rebuild a landed property in Singapore, there are certain rules and regulations that you need to be aware of. Rebuilding a landed property is a complex process, and there are many things that need to be taken into account before work can begin. Make sure you are familiar with the rules and regulations governing landed property redevelopment in Singapore. This will ensure that your project is carried out smoothly and without any hiccups.
Get approval from the relevant authorities
Once you have ascertained that your property can be rebuilt, you will need to get approval from the relevant authorities before proceeding with any redevelopment work. This includes approval from the Urban Redevelopment Authority (URA), the building plan approval from the Buildings Department (BD), as well as approval from your local Town Council (if applicable). This application must include a detailed proposal of the work that you intend to carry out, as well as plans and drawings of the proposed development.
Once the URA has approved your application, you will then need to submit a building plan application to the Building and Construction Authority (BCA). In this case, you can look up URA landed property guidelines as well as BCA landed property guidelines on the internet to be sure you didn’t miss any important details. In addition, you also need to make sure that you have the necessary permits from the Singapore Civil Defense Force (SCDF) before any demolition or construction work can begin.
Calculate the cost of it thoroughly
Singapore has some of the most expensive property prices in the world. As a result, a lot of people are willing to buy land here to build homes and start their own businesses. But without knowing the right details, you can end up losing thousands of dollars in the process.
For example, let’s say you bought a house for SGD285,000 and you decide to renovate and remodel it. Then, you could have an estimated renovation cost of between SGD70,000 to SGD85,000. After you’ve completed the renovations, you would then be able to rent the property out at around SGD28,000 per month. In other words, if you were to buy a landed property, you could be making a profit of around SGD14,000 a month.
You know what happens to people who try to trick you into buying a property when it is not ready for purchase? The property is often sold for more money than it was actually worth. And since you just bought the property, you have no idea how much your renovation costs are. That’s why you should always check out a property’s current market value before buying it. Hence, it is very recommended for you to occasionally check out landed property renovation costs thoroughly.
The estimated cost to rebuild a landed property in Singapore
Depending on the style of development you choose—total destruction (new erection), rebuilding, or A&A—the overall cost will change. You must think about additional aspects in addition to the structure itself, such as lighting and fittings.
Rebuilding a land-based property could cost as much as SGD1 million or perhaps more. This is due to the fact that additional costs during the construction process, such as labor and supplies, might pile up.
Check out the table below for an estimate of costs to get a decent idea:
|Type of Development||Construction Costs||Processing Fees||Architect Fees||Structural Engineer Fees||Mechanical and Electrical Engineer Fees|
|Complete Demolition (New Erection)||Starts from SGD1.5 million||SGD20,000||SGD60,000||SGD30,000||SGD20,000|
|Reconstruction||Ranges between SGD1 million to SGD2 million||SGD20,000||SGD50,000||SGD30,000||SGD10,000|
|A&A||SGD1 million or less||SGD10,000||SGD30,000||SGD20,000||SGD5,000|
Additionally, it can already cost you around SGD2 million for a terrace home to purchase a single-family landed property in Singapore. A Good Class Bungalow (GCB), however, can run as high as SGD200 million.
Simply told, it can be rather expensive to rebuild a landed property. So, if you decide to move through with the initial job, you should prepare yourself to invest a sizable chunk of money.
We make use of 3D rendering and animation
Elpis Interior in 4A Pahang St, Singapore 198605 offers full service, providing complete interior design from concept to completion. We work with clients in any stages, and have provided services to private and commercial sectors. At Elpis Interior we’re all about helping you visualize your space before it’s built, saving you money and time. We make use of 3D rendering and animation to show you exactly how your space will look, before it’s even built. Get your real renovation plan with our animation and 3D visualization by contacting us here.