Planning Your Interior Design Budget
Some Tough Love. Sometimes that’s just what I have to give.
Occasionally when I discuss remodeling and design budgets with prospective clients - they are shocked by some of the estimates and ballpark figures I give them. But when we get into the details, we are in agreement on reasonable costs of individual pieces of furniture or fixtures, but they never realized just how much everything was, once added together!
It’s sort of like that Starbucks coffee you know costs $4.65 every day - not realizing you are out $1,200 at the end of the year. I know, I know…everyone hates that analogy, but it’s the harsh truth. It’s not that I’m saying you shouldn’t have that coffee! Not at all - drink up! Just be fully aware and decide that’s what you want to do.
The same holds true for your home remodeling and home design projects. Take an afternoon and really look at what you want to redo/replace, and write everything down! Sometimes, the best way to plan to get the home of your dreams is to follow the same path you would when planning a road trip:
Figure out where you are today
What’s working, what’s not working? Do you love the sectional in your living room, but hate that you have terrible views of the TV? Do you hate having guests over because there is nowhere to serve appetizers? Maybe the kid’s backpacks and gym bags, and violins have taken over your family room? Get honest about what you love, what you can live with and what makes your blood boil.
Figure out where you want to go
Do you dream of a mudroom where everyone can leave their coats and backpacks and dirty boots? Do you wish you could invite your coworkers over but don’t know where you’d seat them? Do you have an insane book collection taking over every shelf in your house, and while you love the books - you hate how they look? List down all the things you’d love to tackle. Give me ALL of them. WIsh list, pipe dream, and all…this is the only way to ensure that the real problem is being addressed. Sometimes we think we need to fix problem A, and after digging deep, realize problem C is actually what bugs us the most.
Figure out how you will get there
Which elements have to go, which elements are staying, and what’s missing? What can you afford to do now, and later? What makes sense for you and your family - from a sanity perspective (full floor remodel?) to a financial perspective (kids’ 529 vs tearing down that wall separating the kitchen and dining room?) Some of these things only you can answer; others, your designer [hint hint…me!] can help you prioritize. Maybe remodeling the bathroom upstairs makes more sense now since there will be major plumbing work, vs doing the kitchen below first.
Plot stops and milestones on the map [or in this case - write it down!!]
Maybe you don’t need to plot pins on the cities you want to visit - but you need to write (or type) it all out.
Obviously, if we are working together, I will be the one compiling this info - but it will do you a major service to do this before meeting with anyone who will help you take on the project. I’ve also created this handy dandy (printable) Budget Planner below where you can plug in your budget parameters, as well as give you an idea of what you should expect to spend.
Make a list of what you’ll need for the trip
How will you fund the project?
Who will you need to hire?
Can you stay in your house while you are remodeling, or will you have to move out [for your sanity, or otherwise]?
Get a first aid kit and roadside assistance
Expect it to take longer. If you’re doing, say, a kitchen remodel, mentally prepare yourself for being down a kitchen for 2-3 months. Also, be sure to read Surviving Your Kitchen Remodel.
Expect it to cost more. Set aside 10% contingency for the unknowns [if you’re remodeling]
Be ready. Plan for the worst-case scenario, and you won’t run into any issues. If you fail to plan, you plan to fail.
Ready?? Okay, Go!
Now that you’ve fully thought out and planned for this redesign/remodel/refresh - let yourself get excited and daydream about how much better your life will be, now that you [fill in the blanks]. It’ll be great; and worth it.
PLEASE keep in mind this planner provides ESTIMATES only, based on my experience. Costs can vary WILDLY depending on SO many factors!! Maybe you live in a suburb where electricians are abundant, and therefore, may be inexpensive. Maybe your cousin Tom is a cabinet refinisher and can help you redo your kitchen at half the cost. There are many exceptions to the rules- this planner is simply a starting point - a start to a conversation.
If you write in everything you WANT to do and realize you cannot afford it - then we can brainstorm ways to get there. Having a tight budget does not mean you can’t have a beautiful, amazing, well functioning space. Yes, we may have to get creative on how to get there; whether it be refinishing or re-purposing some of your existing furnishings, or finding some amazing vintage finds. It can be done though. Keep an open mind, have faith, and get ready to exercise that right-brain!
