Home Renovation Loan

Renovating Your Home On A Budget In Singapore And How A Home Renovation Loan Can Help To Ease Your Finances

Most people looking to renovate their homes are doing so for one or two reasons: The first is that they have purchased a depressed home and are now looking to renovate it so that it will be fit to live in. The second is that they are looking to add value to the home, or some quality. 

Oftentimes, people just want to make the home feel like it is their own. They want to add personal touches to it that make it their space. 

Generally, the cost of home renovations in Singapore is costly. For instance, renovating a 4-room HDB flat can set you back by at least $50,000.

This is probably money that most of us do not have at our disposal. As such, it might be worth considering applying for a home renovation loan in Singapore due to their faster application process, flexible repayment schedules, and low-interest rates. With a good home renovation loan, you can put your finances at ease and fully concentrate on your home renovation needs.

A renovation loan can be used for all carpentry work, tiling, flooring, roofing, wall painting, wiring and electrical, putting up fences and the like. It cannot be used to purchase curtains, home appliances, or furniture of any kind. Lenders usually offer furniture loans that can be used to purchase the various furnishings and accessories needed to make a home comfortable and even cozy.

Renovating Cost-Effectively

If you are looking at ways to make your home renovation project as cost effective as possible, here are 3 tips that can help:

One Area At A Time – The best way to make sure that a renovation is cost-effective is to plan effectively. This means that you must have an idea of what the big picture to be accomplished is, and then take the renovation in bite sizes. It is best to look at urgent needs first, and then renovate accordingly. You should always start with brainstorming their needs as they work towards the end goal.

Budgeting – This is a critical step in home renovation. The place to start is to ensure that he or she has a full understanding of the expenditure requirements of the job ahead. With an idea of how much you can spend on the renovations, the research can then kick in.

Carry Out Research – This is the time to go out and look at prices of the things that you would like to use. Find out how many tiles are needed for that particular floor and how much they cost. It is also the time to find out where they can be purchased at a cheaper rate. This should be carried out for all the materials required. If you are looking to purchase accessories, thrift stores or garage sales are ideal places to shop for unique and inexpensive items.

Renovating On A Budget

Most people may be looking to make non-structural changes that make a big difference to the home. Here are great ideas that will give the home a facelift while saving the homeowner money:

A Great Front Door – Most people think of many different changes to make to the home, but forget the main one, the front door. A good idea is to repaint it, or if need be, change it altogether. When rooms are small, doors should be painted a lighter shade so that they can open up the room to look bigger. This means that the paint used on the doors should consider room size and the light concentration in the home.

Paint – Painting the home gives it an instant facelift. Whether you are looking to paint the exterior, the interior or both, you can definitely expect to see a big difference once the job is done. Quality paint is important, so instead of going for poor quality, opt for a simple color palette that looks sophisticated, and doesn’t cost an arm and a leg.

Make Small Rooms Look Bigger – Renovating a home with small rooms will call for light colored paint, but also calls for the use of mirrors to maximize the light coming into the room, which opens it up more. This works better than adding an extension to a room or demolishing a wall to combine rooms. 

Kitchen Renovations Are Ideal For Helping With Storage Issues – Most people look for DIY projects for their kitchen cabinets in order to bring costs to a minimum. It is also a good idea to carry out some de-cluttering while at it. In the event that you have plenty of cabinetry, then repainting them may be the only change necessary to give the room a nice change.

Large Windows – Nothing beats a large window. If you’re making structural changes to the home, enlarging small windows is a very good idea. It allows for more natural light to come into the rooms and also adds value to the home. If this is not possible, then you should consider painting the window so that it is a shade or two lighter than the color used to paint the rest of the room. Remember that a room with a small window will need to be painted a light color to enhance the room’s lighting.

Bathrooms – Bathrooms can be renovated without too much spending, but using quality yet inexpensive faucets and materials. Painting walls and cabinets can be part of the renovation without costing too much. If you are looking to install a new toilet or other new items, finding quality products at a great price is a must. This is where research comes in.

Floors – Renovating floors can change the whole house. But sometimes, you do not need to take out the floor. If it is a wooden floor, sanding, varnishing, and polishing the floor can make it look good as new. 

Home renovations do not always have to be a stressful affair. With proper research, a good contractor and interior designer, coupled with the proper financing, you’ll be one step closer to your dream home in no time!

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