There’s no doubt that home renovations in Singapore can set anyone back by thousands of dollars, even with enough personal savings. Sometimes, that may not even be enough to cover all the expenses. However, there are ways to make sure that you can carry the financial responsibility of renovating your personal space: Set aside a portion of your savings for renovations. While you’re trying to save for the down payment of your flat, make sure to set a portion of your savings for renovations. When the time comes that your savings are enough for a down payment, you won’t need to borrow as much money. Sign up for home renovation loans. There’s nothing wrong with opting for renovation loans because most Singaporeans do it. For many, it’s the only way to cover renovation costs. Most renovation loans are offered by private banks in Singapore. Keep in mind that you won’t be able to cash out beyond the quotation of your contractor. Consider personal loans. Unlike renovation loans, personal loans can be used for any purpose, including paying off the expenses of your renovation. They’re not as strict as the rules of applying for renovation loans, but they do have higher interest rates.