To help you get a rough idea of what your home contents and furnishings might cost, we've put together an extensive list of what Singaporeans typically keep in their homes. Below we discuss our estimates of home content values, as well as some important factors that can significantly change their costs. You can use our research to learn how much you can expect to spend to fill your home, as well as to estimate how much home contents coverage you might need.
Table of Contents
- Average Cost of Home Contents
- Valuables and Personal Items
- Advice on Calculating Contents Value
Average Cost of Home Contents
We estimate that the average cost of home contents is around S$30,000 for a typical 4-room HDB flat in Singapore. A 4-room property was used as the basis of our calculation because it represents the most popular type of housing in Singapore. In order to reflect an average person's budget, we used standard-quality items and excluded designer brands and commodities that are difficult to buy in Singapore. We looked at Ikea, Shoppee and Qoo10 for our affordable furniture calculations and Crate & Barrel, Taylor B. Design and Grey & Sanders for higher-end options.
|Cost by Content Type||Budget||Mid-Range||High-End||Note|
|Furniture||S$4,226||S$11,352||S$32,879||Depends on size of home and decoration style|
|Electronics||S$2,766||S$4,054||S$10,430||Includes air conditioner set of 3 indoor units|
|Kitchen Appliances||S$628||S$2,413||S$7,162||Includes groceries & kitchen electronics (fridge, microwave, etc.)|
|Valuables & Personal Items||S$6,480||S$10,800||S$16,250||May vary significantly|
|Laundry & Sanitary Equipment||S$771||S$1,201||S$3,677|
While we think S$30,000 is typical for the total value of belongings, home size and income level are important factors that can determine the value of items in a household. For example, a low-income household may choose budget options in the "low" tier, while a high-income household may prefer options that are even more expensive than the ones listed here. Furthermore, other households may prefer to save on certain items while splurging on others.
Therefore, please use this as a reference point to guide your decision process as you are shopping for new furnishings for your home.
Breakdown of Major Cost Items: Furnitures, Electronics, Appliances
The sheer costs of expensive household items like TV and certain furnitures make high-cost belongings an important factor for determining your total budget. For example, a sofa can cost as low as S$200, but can go up to five figures if you choose to buy some exclusive selections imported from overseas. To help you better plan your spending around these high-cost items, below we show a more detailed overview of the some major cost home contents.
|Bedframe (King or Queen)||S$200||S$500||S$900||Natural wood, marble, bed with storage|
|Mattress||S$200||S$500||S$700||Dual coil, memory foam, heated|
|Dining Table||S$125||S$530||S$3,900||Designer brand, natural wood|
|Television||S$250||S$410||S$2,000||4K Ultra HD, curved, smart TV, OLED|
|Fridge||S$400||S$700||S$2,300||6-door, side-by-side, 500L and above|
|Air Conditioner||S$2,100||S$2,600||S$4,000||4+ indoor units, Japan made|
|Washer/Dryer||S$800||S$1,200||S$3,600||Front load, dryer, 9kg load and above|
Valuables and Personal Items
While we included a general estimate of valuables and personal items in our average cost calculation, it is difficult to designate an accurate representation of their values because each household has different tastes and income levels. For instance, a sports mania household might own expensive outdoor equipment (bicycles, camping equipment, etc.) that cost thousands of dollars. If you are interested in fashion, you might own pieces of clothes that cost more than that. To help you sort through the various valuable items you might have, below we show a list of items whose values may differ significantly from household to household.
|Valuables and Personal Items|
|Bags/Wallets||Clothes/Footwear||China and Cabinets||Musical Instruments|
Advice on Calculating Contents Value
When attempting to estimate the value of your home furnishings and contents, it is impossible to exhaustively calculate every single item.
Instead, we recommend that you start with the most expensive components of your home, most of which we've discussed above. Starting from these big items will help you roughly gauge the minimum required level of expenditure you need to fill your home. You should also be careful not to over or underestimate the contents of your home. If you over estimate, you may end up paying unnecessarily high premiums, and if you underestimate you may end up with coverage gaps.
Finally, if you have extremely valuable items you are thinking of insuring, you should read the policy wordings to see if the insurance company covers them in the first place. If the company doesn't, you should report the total value of your home excluding the value of those items, and consider getting a separate articles insurance policy.