It is the dream of every woman to marry in style. For a woman, it should be the dream wedding. For a guy, it is his dream to marry the woman of his dream. It is needless to explain why a wedding is such a big thing in Singapore. While a wedding can be the dream for most people, the journey towards planning a wedding might not.
Planning for a wedding can be mentally and financially draining, especially if you are not well prepared.
At BankBazaar, we want to help all our readers be more prepared as you plan for your wedding. At the very least, you should be financially prepared to save towards your dream wedding.
1. Wedding banquet
The highlight of every wedding is the wedding banquet where you and your other half will walk down the red carpet and take your vows. Before getting to that magical moment, you need to plan for your wedding dinner. “Where will it be held?”, “Which day should it be held on?”, “Will it be lunch or dinner?” and “What are your guests going to eat?” are questions that you will need to deal with. Based on your answers to these questions, the cost of your wedding banquet will vary.
The cost of your wedding venue will be largely driven by these few factors:
Where will your wedding banquet be held?
There are a few types of venue that you can choose from: hotels, traditional restaurants or outdoor restaurants. For most couples, hotels are the preferred venue choice and the norm. Hotels offer a standard option for couples to take up and save you the hassle of decorating the place. Moreover, hotels offer a glamourous wedding venue for the banquet to be held.
What time will your wedding banquet be held? Lunch or dinner?
Wedding dinners have been the social norm since your parents’ or even your grandparents’ generation. Because of the social norm, hotels have been exploiting it to earn as much as they can from wedding dinners. As such, wedding dinner prices have become exorbitantly expensive.
In recent years, new couples have been opting for a wedding lunch instead of wedding dinner to save some money. After all, there isn’t much difference between a lunch and dinner, apart from the timing. Generally, wedding lunches are 5-30% cheaper than wedding dinners, depending on the venue.
Which day will your wedding banquet be held on?
The day of the wedding banquet can also be a huge price factor. As most of your friends are working adults, weekend nights would better suit their timing. And it is not just for your friends, but also for you as well.
As such, dinners that are being held on Friday, Saturday and Sunday nights are much more expensive than weekday nights. Saturday nights tend to be the most expensive among weekend nights. There are, however, some hotels and restaurants that have the same price for Saturday and Sunday nights.
Where will your wedding banquet be held at?
Average cost of wedding banquets at hotels
Overall, the average cost of a table at hotel wedding banquets can range between $822 to $2,801. Hotels would usually offer you the venue as a package. As part of the package, you will need to get at least 20 tables. This translates to an average cost that falls between $16,440 to $56,020.
Depending on your hotel venue, some hotels do allow for fewer number of tables. This is especially so for hotels that charge a higher rate for each table. For example, Fu Lin Men @ Hotel RE! charges $1,339 per table for weekday dinner. However, it allows you to book a minimum of five tables instead of 20 tables. This translates to only $6,595 for the wedding dinner on weekday night.
Average cost of wedding banquets at restaurants
If you prefer to spend money on your honeymoon instead of your banquet, you might want to consider hosting at restaurants. The price of each table at the restaurant can be 40-50% cheaper than a table at the hotel. In general, the average cost of wedding banquet at a restaurant ranges between $11,260 to $18,780 (for 20 tables). In contrast to hotels, restaurants are typically more flexible with the minimum number of tables to entice you to hold your wedding with them.
The downside is that some restaurants do not offer the same kind of glamourous feel that hotel venues do. Furthermore, the space constraint within restaurant can make it difficult in changing into your wedding suit or gown for you or your other half.
Getting financial perks out of your wedding banquet
Getting married can be a sweet but expensive affair. However, if you plan it well, you can even get perks out of it if you know how. A word of advice, always start your planning early.
Read this next: Here’s How Your Wedding Expenses Can Pay for a Free Honeymoon