How do you budget a renovation fee for a 4-5room resale HDB?

How do you budget a renovation fee for 4-5 rm resale HDB?

Suppose I have $50k cash savings, is it advisable to still set aside 6-12mths living expenses/emergency fund etc?

Is renovation loan a sensible approach?

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Geraldo L.

09 Mar 2020

Original Post:

How much did/do you intend to spend on Home Renovation (including furnishing) and what was the biggest ticket item?

Expecting to spend around no more than $60k. The biggest ticket items for me will probably be the kitchen cabinets, bed and refrigerator.

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Davin

09 Mar 2020

Based on my own experience, $30k renovation will be able to cover most of the basic stuff. If you want some fancy design, you will need to allocate $50k. And I don’t think reno loan is a good idea as you still have mortgage loan to serve, so it will be additional burden.

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Rais M

09 Mar 2020

Accountant at SME

I did a basic reno. Cost me about $30k. Be prepared to increase it by 10k or 20k if you have a theme...

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