Investment Panning and Budgeting for Interior Design
Let’s get right down to business! Before I am able to source the perfect paint color, window treatment or piece of furniture, I am having open and honest budget and planning conversations with my clients. I thought since the “B” word comes up with each project, I’d take a moment and talk about it here.
So – why do you need a budget?
A project budget is imperative to identify the scope of work, the expectations and planning ahead. Your budget can encompass design fees, construction, materials, furnishings, contractors, permits and more. Without a clearly communicated budget, you can see how those things could quickly add up. Setting a clear expectation of budget ensures a positive experience for all involved. This process should uplift you, not cause added stress!
What should you consider for your budget?
As mentioned above, there are many factors to consider when creating your budget. First things first, identify what room, rooms, or project you’ll be hiring an interior designer for. For instance, if you have an all-in budget of $150,000 to re-do your kitchen and dining room, you can have a general understanding of specific appliances and price of furniture that you may want for those spaces. Remember, construction, contractor and design fees will also be apart of that all-in budget.
I like to work with my clients to see what pieces they may want to keep and what we’ll want to source. Then, we take a look at brands and prices that fit their needs and lifestyle. For instance, that kitchen and dining room may need a new island build out and appliances. (Or, like in the photo below, two wine refrigerators, a coffee station and humidor!) We can invest in what will add value to their life and home, while being creative in other areas.
A final piece of advice…
Invest in the best piece of furniture you can afford at that moment. I promise you, it will be worth it. And you will think of me when your friends are needing to replace furniture and yours is standing the test of time. Quality is so important and can directly impact how you live in your space for many years to come. You deserve that peace of mind and pride after investing time and money into your home.
For more budgeting and planning tips, let’s connect. VF Interiors is here to collaborate and get creative with your budget and your space.
