5 Mistakes Homeowners Make Trying to Save On Renovation Costs

Renovation does not come cheap. According to a guide done by Qanvast, it costs an average of $44,000 for a new BTO flat to $77,000 for a HDB resale flat for a whole house renovation which includes hacking and masonry works. Singaporeans will be justified in trying to find ways to cut costs. However, some cost-cutting decisions end up with the opposite effect and might even inflate the budget. Here are five common and costly mistakes:

1. Choosing the lowest bidder In the competitive interior designing and contracting industry, companies have two ways to differentiate themselves – price and non-price strategies. Companies that do not possess substantial portfolios or design chops will likely employ pricing methods, undercutting the market rate to entice sign-ups, the designs are likely duplicated and visualizations are done by 3rd party. On the contrary, those with extensive portfolios, skills, and testimonials to show for will not engage in price wars as they are confident of their quality and skills. A common mistake that new homeowners make is asking for quotations from different companies and then choosing the lowest which can potentially result in cheap materials, less-skilled contractors and inexperienced designers. Your dream home will then suffer fr