How to establish a budget for your design plan
The word budget is often treated like a bad word whenever it comes up during meetings with clients. We get it, it’s a word that feels restrictive and not fun.
We know it’s difficult to guess what home improvements cost when we don’t purchase furniture weekly or update our flooring on an annual basis, but here’s the deal, budget is a word we should embrace and here’s why?
Without a budget there are no parameters or direction.
You don’t want the rug store to show you 8k rugs when you have a 800.00 rug in mind or you probably don’t want to shop at a high end retailer when a mid range one would suit your needs just fine.
When you establish a budget, you’re more likely to stay within it and the people who work with you can make more realistic recommendations.
Don’t be afraid to express what your budget is, for fear that you’ll be judged. Good design principles are achievable with large and small budgets
Decide if you want lifetime furniture or if you don’t mind changing it every few years
And understand where it’s more important to invest a few more dollars and where it’s best to save a few dollars. For a sofa that will get used often for lounging, sleeping, and watching tv, it’s very wise to splurge here, but save on accessories that are trendy.
Do your research
- Google average sofa pricing, or visit a few local showrooms to get a read on today’s prices.
- Garner at least 3 quotes from area contractors and take the average of all three.
- Ask friends who have invested in home improvements what range one can expect to pay for a similar project
- Lastly if you enlist the help of a designer, investigate how they charge. Some charge hourly, per square footage, some are project based and some take a percentage of the overall project. Either way, include this in your overall budget planning and you’ll be on your way to figuring out how to establish a budget for your planning.
As a collaborative interior design firm, we help busy homeowners who are unsure of their design style, consider mood instead. We want to know how you want your home to feel after a long day at work. Can you picture it? That’s what we want to help you create. Contact us to learn more about our process and to see if we are a good fit. You can email us at rjackson@yourdesignpartner.com or contact us here.
call 513-409-3759
Inspiring creativity,
Ricci
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