5 Tips for Setting Your Renovation Budget

No matter if your place is an HDB, condo, or landed property, you’ll need a detailed budget for decorating. Figuring out how much you want to spend on your renovation will help you plan everything out. Here are a few things to keep in mind when you’re setting your renovation budget.

1. Define your goals

   
   

   First off, figure out your goals by asking yourself why you want to renovate. This will help your contractor get a clear picture of your vision and priorities for the project. It’s a good idea to share your plans, materials, and timeline right from the start so everyone’s on the same page about what you expect.

   
   

2. Explore your financing options

   
   

   Before you set a budget, figure out your financial plan first. Make sure to set aside a bit extra to cover any surprise costs and make sure you can finish your renovation. If you want to play it safe, you might want to hire a pro to do some initial checks or demo work. This can help you plan better and warn you of any potential issues down the line.

   
   

3. List down the details

   
   

   How much you spend on your renovation depends on what you want to achieve. It’s a good idea to invest enough to fit your lifestyle and keep your home’s value in line with similar houses in the area.

   
   

   Before starting the renovation, make sure you’ve decided on things like materials and finishes—like whether you’ll use wallpaper or paint. To get a solid estimate of costs, chat with an interior designer or general contractor. Giving them a detailed list of what you want, along with any sample photos you have, can help you create a more accurate budget.

   
   

4. Find a good contractor

   
   

   To keep your renovation within budget, focus on cutting costs for each part of the project. A great contractor can handle all the arrangements, scheduling, and coordination, which helps save you money and ensures everything finishes on time.

   
   

   If you decide to tackle the renovation yourself, you’ll spend a lot of time researching, learning how to do things, buying the right tools, and dealing with trial and error. This usually means the project will take longer and end up costing more.

   
   

5. Get a quotation

   
   

   Use the priority list you made earlier to cut out the less important parts of the project. A contractor can help review your plan and budget to make sure you haven’t missed any costs or tasks. Pay attention to their estimates, advice, and feedback so you can tweak your budget before you start.

   
   

   While most contractors offer a free estimate, you'll usually need to pay for a “hard” quote, which gives you a detailed breakdown of costs and the project timeline. But no worries—Omni Interior Designer will cover that fee for you.

   
   

   We handle everything you need for a home renovation, from permits and inspections to making sure everything meets code requirements.

Doing all of this will help you get a handle on your home renovation budget, so your house turns out just the way you envision it.

We’re excited to chat with you about your dream home and turn those dreams into a solid plan. We’ll work with you to create a space that matches your style and preferences. Click here to reach out to us with your renovation ideas today!