How much do Singaporeans really spend on Renovation?

After having a pretty satisfying chitchat session with my close bunch of gal friends, this topic came up. My search turns up this very interesting infographic from Qanvast.

Image from Qanvast
Some observations :
1. The average HDB renovation  amount is around $60k. HDB homeowners who are willing to spurgea whopping $220k on home renovation!
2. Condo dwellers spend an average of $80k for their renovation while the more generous homeowners are willing to spend an eye popping $500k!!
3. Landed owners spend an average of $254k and some are willing to pay a price tag of $1.5 million!
I would think that HDB renovations with a hefty price tag of $220k are those major overhaul projects meant for those really old apartments of over 30 years old. 

Condos usually come furnished with flooring, cabinets and even white goods such as kitchen appliances. In other words, there is not much renovation to be done. Maybe they decided to replace most of the home interiors?

It is not uncommon for landed property owners to tear down and rebuild the entire house in their renovation hence I guess $1.5 million is possible. 

Nevertheless, I am pleasantly surprised to learn that "eclectic" design theme exists; "eclectic"  essentially means "deriving ideas, style, or taste from a broad and diverse range of sources."

To put in layman, "Eclectic" theme is aka "Rojak" theme! T_T

To add on, if you want to adopt the ever so popular "Scandinavian" theme, you should get all your furniture and furnishing from IKEA! Should cost you at a fraction at less than $10k!

Nonetheless, to put things in perspective, here are some of the real figures which my friends have spent for their renovation.

$18k to $25k for a 5 room BTO
$17k for a 4 room BTO
$8k for a 2 bedder new Condo
$15k for a 3 bedder new Condo

Well, I am unable to substantiate the figures quoted in the infographic but I do wonder if the figures quoted are bloated to make homeowners feel better that they are spending "below" the average and perhaps a justification for the renovation professional to charge higher? 

Your thoughts?

These renovation related posts are useful too.


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