There are a lot of important decisions to make before you can move into your first home. While it may be overwhelming to keep track of all of these issues, neglecting to do so can end up costing you thousands of dollars. We strongly recommend keeping an eye out for the following missteps in order to comfortably enjoy your new home. NOT CREATING A FEASIBLE BUDGET Before you even start visiting homes, it's important to have a good idea of how much you can afford to pay for your new place. With that in mind, there are two cost categories to consider as a prospective homeowner. First, it is important to understand the upfront cost of a down payment. Those choosing to use a home loan from a bank will have to make a downpayment of at least 25 per cent of their home's value, including a cash payment of at least 5 per cent of the home's value. These loans tend to be the cheapest option due to their competitive interest rates; however, those financing their purchase with an HDB loan only have … [Read more...] about 5 common mistakes of first-time HDB home-buyers in Singapore
Home renovation refinance loans
Because even with a roof overhead, we all need to eat. There's something about renovating a home that just makes us want to spend more - the temptation to replace those new, but oh-so-basic HDB fittings; that hankering to build an extra-large walk-in closet in the bedroom. But before you cave in to your desires, think about the finances. The average cost for a (thorough) renovation in Singapore is upwards of $50,000 - and that's hardly chump change. However, it doesn't mean you have to forego all of your home goals - you just have to avoid overspending. Here are six renovation tips that will allow you to achieve your home makeover plans, without needing to subsist on cup noodles after. 1. GET AN IDEA OF HOW MUCH THINGS WILL COST A picture might tell a thousand words, but it certainly won't say how much it costs to achieve that sleek minimalist interior you saw on Pinterest or Instagram while brainstorming for ideas. So before you get excited about copying the look of a front-page … [Read more...] about How to get through a home renovation without going broke
For the superstitious, it's anathema to renovate (and also marry, swim, or hang wet laundry overnight) during the 7th month of the Lunar calendar, and that's because of the 'Hungry Ghost Festival' - a yearly period between 1st -29th August when it's believed that hordes of wandering spirits will emerge from hell to haunt the world of the living. However, does that make the 7th lunar month a bad time to get started on building your new home? Well, not according to the interior designers whom we spoke to about common myths surrounding the matter and Singapore's renovation industry. Here's what we found out from them. MYTH 1: THE HUNGRY GHOST FESTIVAL IS A BAD TIME TO START RENOVATING False. We have all heard someone say that getting a new start during the Hungry Ghost Festival will invite bad luck into your home or that the noisy work will disturb the spirits but if you aren't into these beliefs, there's actually a significant advantage to starting your renovation in August. According to … [Read more...] about The biggest 7th month myths about home renovation, debunked
The cost of renovating Prince Harry and his wife Meghan's new home was 2.4 million pounds (S$4.1 million), Buckingham Palace said on Tuesday (Jun 25).The sum, taken from the annual taxpayer-funded allowance to the royal family, paid for the conversion of Frogmore Cottage to a single dwelling while the royal couple, the Duke and Duchess of Sussex, paid for the fittings and furnishings."The property had not been subject of work for some years and had already been earmarked for renovation in line with our responsibility to maintain the condition of the occupied royal palaces estate," said Michael Stevens, the Keeper of the Privy Purse."Outdated infrastructure was replaced to guarantee the long term future of the property," he said as the royal household published the annual Sovereign Grant report which details official income and expenditure of Queen Elizabeth and her household.The 19th century Frogmore Cottage, in the grounds of the queen's Windsor Castle estate, became the … [Read more...] about Prince Harry and Meghan’s home renovation cost taxpayers S$4.1m
If you're renovating for the first time, there's plenty to puzzle over, from budgeting matters to the myriad of design features to consider for your home's new look. And so, the last thing you need is even more confusing renovation jargon. Fortunately, we have got the perfect solution: A handy cheat sheet of commonly-used renovation terms in Singapore. Use it the next time you're on a site visit or discussing ideas with your interior designer! 1. SUB-CONTRACTOR You probably already know the difference between contractors and interior designers as well as what they do (if you don't, read this), but what about sub-contractors? Like contractors, they are in charge of handling specific renovation works on the ground (e.g. plumbing, masonry, air-conditioning), but only the ones that an interior designer or contractor can't do. So, think of them as third-party specialists who are called in for special jobs! 2. LOAD-BEARING WALL Not every wall in your home is the same. While some can be torn … [Read more...] about Do you know these home renovation terms used in Singapore?