Whether you have tens of thousands of dollars or significantly less to work with, you need to carefully plan and make tough choices to stay within your interior design budget. Keep in mind that decorating with frugality isn’t about being cheap; it’s about being smart. Here are several ways you can make informed decisions to get the best value for your money.
1. Determine your actual budget.
Be brutally honest with yourself. Look at your monthly outflows and inflows as well as any “rainy day” funds you’ve put aside to determine, realistically, how much you really have in your interior design budget. Even if money isn’t an issue, your interior design budget should be an amount you’re excited to invest without feeling regretful or guilty.
2. Prioritize your labor and purchases.
Start itemizing with the real costs, your decorating wish-list, and your budget in front of you. If you’re decorating an entire home, determine whether you need to tackle the project by category or by room. Be realistic, remember “Quality remains long after the price is forgotten”.
3. Draft your decorating plan.
Put your design on paper. A detailed vision of what you want to accomplish is one of the best tools you can have. Break down each element by listing the items to be purchased, the work to be done and the amount you plan to spend on each. List each item chronologically and set a timeline for getting it done. The insight and experience of a qualified interior design team can be a tremendous asset in creating these elements.
4. Be aware of budget-busters.
Tuck away 10 to 15 percent of your total interior design budget to cover unexpected expenses. Common oversights and errors include impulse buys, supplies and unanticipated freight and delivery charges. Having extra money in your budget can help to ensure you keep things under control throughout the duration of the project.
Other Considerations
Keep in mind these other interior design budget tips:
- Familiarize yourself with price tags to avoid “sticker shock”.
- Invest in important room features.
- Make trade-offs to juggle your expenses.
- Don’t overspend on the cosmetic changes.
Unless you have an unlimited budget, you might not be able to accomplish everything right away. Instead of losing heart, spread out the expense by making a long-range plan and implementing your interior design project in phases as money and time allow. Rather than pressuring yourself to do it all at once, take your time to do it right. You’ll be much happier in the end.
Ready to get started? Contact the interior design team at Ron Nathan Interiors to discuss your project today.
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