If you feel that your home needs a complete redesign and you have the funds to make a big investment, you may want to hire an interior designer. For those with a large renovation budget, an interior designer can help with everything from selecting materials to hiring contractors, to planning and seeing the renovation through from start to finish.
These projects often include services such as masonry, plumbing and ceiling and carpentry work. On average, interior design projects cost S$34,000 and S$44,000 for new HDB flats and between S$42,000 and S$62,000 for resale flats, which typically require more renovation work due to deterioration and damage. While these ranges may be too expensive for many homeowners, our research also indicates that smaller scale design projects can cost S$11,000 to S$15,000 for HDB flats.
For homeowners that desperately want to hire an interior designer, but do not have the funds to pay for this service, there are financing options available. Typically, individuals consider personal loans or renovation loans in order to finance their home renovation. We recommend that homeowners choose renovation loans for this purpose, as these loans generally charge lower interest rates than personal loans. We also strongly suggest that you compare renovation loan interest rates before you decide to borrow.
Finally, it is important to consider the total interest cost, or cost of borrowing, as as part of cost of your renovation project. For example, even renovation loans with the best interest rates can cost several thousand dollars for a full home renovation.
READ MORE: Stylish HDB Flats And Condos With Renovations Below $30,000