Renovation budgets have the power to defy basic laws of mathematics. If you’re certain it’s under, say, $25,000, you had a better brace for a bill that’s $30,000 or more. Everything from a late supply to a bad mistake with a power drill can unexpectedly drive up renovation costs; and here’s what to do when it happens:

1. Start prioritising what needs to be done

If the budget is clearly running out, then it’s time to prioritise. Get the contractor or designer to finish details that can’t wait; furnishings or interesting features can be done later.

Prioritise rooms in the following order:

  • Kitchen
  • Dining and Living Room
  • Bedrooms last

Cut the budget for non-essential furnishings (chandeliers, wall mirrors, lazy chairs, and so forth), to prioritise renovations like painting or flooring. You can buy nice furnishings later when you free up some cash.

2. Work out the total you’re off by and get a loan for it, never start paying in bits and pieces

When the budget is busted, stop your contractor or designer. Have a sit-down and work out how much more they need. This will allow you to plan for a sufficient bank loan.


3. If you can’t get a bank loan for some reason, hit up COURTS for your furnishing needs

So you can’t get a bank loan. Not to worry, you can still furnish your house with the latest TVs, Appliances, Furniture and even bedding at COURTS. Simply apply for COURTS Flexi Plans.

COURTS Flexi Plans allows you to buy on an instalment scheme, with:

  • No minimum income required
  • No cash down payment, and
  • Repayment periods of up to 72 months

The interest rate is close to most credit cards at 2.24% monthly* COURTS Flexi Plans caters to every single person’s lifestyle and their budget. They even have plans from as low as 0%!

*2.74 percent monthly for non-Singaporean residents

Terms and conditions apply.

4. Use the designer or contractor’s furniture factory (if they have one)

Some interior designers and contractors have their own furniture factory. If the budget is already bust, tap this resource.

Instead of buying original designer pieces from the store, ask if the designer or contractor can make similar pieces. While the results won’t be exact, many of them can make similar versions to what you find in shops.

However, do keep in mind that buying ready-made furniture is usually much cheaper compared to getting customised furniture from a contractor.

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GoBear team

Brought to you by GoBear Insurance Broker (SG) Pte. Ltd., a registered insurance broker with the Monetary Authority of Singapore