How to define a budget for your interior design project
We understand that designing a home can feel overwhelming for most people, especially when it comes to creating a budget, the best advice is to be honest with yourself and come up with an amount you are comfortable investing in your design.
Here are some thoughts to consider making it less stressful.
-Before even considering your budget, go through your home and write down what you want to change or add. This list should include anything and everything you would want to address when designing your home. Once you have determined your estimated cost, add a contingency of about 15 to 20 percent to account for the unforeseen problems that will surely pop up over the course of the project. Other considerations like kids, multiple pets, or a love for hosting parties should affect what you put your money towards. Make sure that the finished project truly represents your lifestyle.
-Be very clear with the designer about your budget from the beginning. Sometimes we treat the subject of budget like a game of cards. One expectation seems to be “If the interior designer thinks I’ve got less than I have I’ll get the whole thing done more cheaply.” Or worse; “If the designer knows how much I’ve got they’ll make sure they spend every penny, even if that means over-charging. Remember the designer wants you to have a beautiful home as much as yours. And remember HGTV shows are put together for entertainment and the expenses showed are not real.
– Remember home improvements designed and supervised by a fully qualified professional will always come with a price tag. You are paying for the designer’s expertise, their ability to and experience in sourcing from (most time from trade-only) suppliers of furniture, fabrics and accessories, not forgetting the time they save you from having to organize and supervise builders, painters, joiners, plumbers and the like.
-You need to be honest with yourself about how far your money will stretch. You will have a list of your design priorities and some pricing but in the real world however it is only after receiving the initial estimates that the real cost of a project will become apparent.
It’s at this point that reality tends to set in. Often clients might find that it’s not possible to have everything on their wish list while staying within their budget. As designers, our goal is to find a balance between your wants, needs, and budget. We can help you to determine where your money will be best spent. It is best to finish a complete room than to have all the rooms done at 50%.
For more help determining your budget, contact us. We’d love to work with you on your next interior design project – and make sure that your investment pays off with a functional, stylish space.
