Budgeting for Interior Design
To make an initial point here about budgeting I want to share a couple of experiences, first an experience I had a few years ago consulting a client in the coastal village of Laguna Beach, CA. This impressive lady had started and grown a successful company and eventually had the opportunity to renovate a hilltop home which happened to have one of the most breathtaking Southern California coastline views I have ever seen.
$800 Door Knobs and $50 Sofas
While this was a big budget client, make no mistake she had a finite budget and she used a portion of that budget to purchase $800 doorknobs ($1600 per door) throughout her residence.
If you’re like me you are probably thinking that there must be really superb doorknobs out there for maybe $400 per door and certainly there are attractive options that can handle the job for under $50 per door. However this client fell in love with the budget buster knobs and because she knew her budget down to the penny she was able to prioritize her investments toward spending less on certain items in order to get what she really wanted – gorgeous doorknobs.
Now compare this story with another HMD client seeking to renovate her living room. This client wanted to procure new flooring, window coverings, paint, a new sofa and side tables according to a maximum budget of $2,500. Our expert HMD designer was outstanding in her efforts to specify four of the five requested items (everything except the sofa) for just $2,450 including our design consultation fee of $299. Finding all of these gorgeous items, including installed flooring, within this budget is a feat just short of miracle status, but because the average price of a sectional sofa alone exceeds the clients total budget the client unfortunately was destined to be disappointed from the very beginning.
The Moral of the Story
The reason I share these stories is to illustrate that there is tremendous value in knowing how the amount you have to spend compares to how much the stuff you want actually costs.
Below are some links to budgeting resources that will help you determine what the price ranges are for common design elements associated with your project.
Please note these examples and price points reflect the range of products most often specified in HMD design packages and so these will not be the least expensive options available in the marketplace (you won’t find prices based upon IKEA, low quality retail goods, imports from China, Craigslist etc.).
Click On Any Image
To View The Corresponding Budget Resource