We 100% Disagree with how Condo Renovation is Priced

There’s a long-standing practice in the reno industry that we 100% disagree with. The moment an ID or main contractor sees the words “condo renovation”, the quotation almost always inflates.

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For a normal HDB maybe they take profit margin 25% but they see condos often they mark up 30-35%.

This is double dipping to us.

And after multiple debates with plenty of IDs, none can give a good reason.

What is Right?

If you remember our past video, condo renovations rightfully cost more than HDB.

This is because the work itself naturally takes longer (due to condo MSTs having stricter hours allowed for reno).

A tiler who could finish an HDB job in 5 days might take 8 days in a condo.

Naturally, that extra time means higher cost, which is why a tiler, or the subcontractors in general, will charge the ID/main con a higher amount.

In this case, the tiling cost maybe from $5k becomes $7k.

Just to be clear, this is fair, valid and right.

What is Wrong Then?

But what many IDs do is take this already higher cost, mark it up even higher, and then present the quotation to homeowners.

For example,

• Total cost to IDs for HDB project = $100k

• Total cost to IDs for condo project of equivalent scope & size = $120k (This is valid)

• Based on this cost, the ID marks up

  • 20% for HDB = $100k x 20% = ID earns $20k

  • 30% for Condo = $120k x 30% = ID earns $36k

  • THIS IS THE THING THAT IS WRONG.

  • For a similar scope of work, how can the ID earn almost double??

Some IDs might argue, “Because condo projects take longer to manage, I should earn more.”

But that logic doesn’t hold. At the same margin, because of the subcontractors’ higher pricing, IDs already earn more!

If a project cost increases from $100k (HDB) to $120k (condo), and you’re charging the same 20% margin, your earnings go from $20k to $24k.

That’s an extra $4k just from the higher base cost. You’re already compensated for the longer timeline, so why should there be another mark up.

Our take is simple - margins for HDB and condo projects should be the same.

This is why for all IDs & contractors who want to partner with us, this is the standard we mandate from all.

Let’s continue to build a renovation ecosystem that is fair for all parties!

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