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When it comes to drafting a budget, most clients have little to no knowledge of how much should be allocated towards their home design projects. It is also important to understand the value of interior design services and the process in which you will undergo with a designer, including decision making processes and avoiding costly mistakes. This guide should help you more easily navigate and understand design processes to achieve the best “design for dollar”.
Check out the below tips for understanding your design budget.
1. What do you want to do?
First, determine your scope of work – Create a checklist of action items. Determine whether you seek to perform a remodel or just a simple redesign of certain spaces. - Once you determine the extent of your project, your design team can help you determine the appropriate budget to achieve your design vision.
Tips!
Remodels that include moving structural walls will significantly increase your design costs
Utilize the High/Low Design Approach- prioritize and invest in high trafficked areas, such as the kitchen, living room, dining room and/or bathrooms. These will add the most immediate return on your investment.
2. How much per room?
Now that you are aware of your desired services. Work with your design firm & create a high vs. low estimate guide per rooms of interest. Determine what features are most important to meet your goals. The more specific you can express your vision – the less time you will need to pay in design fees of alternative design options.
For price references, here is a helpful resource as an overview of remodel estimates in the Texas areas.
Tip! Ensure you are allotting an appropriate amount per space that reflects the price of the home. The recommended amount in design investment is ~20-30% of your home’s value- invest in your home!
3. Do your homework – have a vision board!
Prior to beginning any design projects - It is always a good idea to provide your designer- and any other major decision makers involved in the project -with inspiration ideas,
ensuring everyone’s understanding the design style, priorities and expectations. Even if not all decision makers can agree – it is helpful to know each of their likes/dislikes & non-negotiables. Y
our design team can craft a design that reflects all parties – Expect to compromise on some items & find the balance that creates a home for everyone.
4. Consider third party fees.
In addition to designer rates, consider standard charges for shipping, taxes and other third-party fees, this is typically a standard 10-15% of your budget. See below for fees to be aware of;
- Designer Fees + travel rates
- Third Party Labor + Installation fees
- Cost of Goods + Freight
- Storage & White/Glove Services
- Sales Taxes
5. What not to do…the most certain way to drive up costs in your project.
Some of the items that we see that often leads to higher than expected design costs are;
Increasing Scope of Work mid-project by increased demands. The most expensive words in any project are “We might as well…”
Adhere to your approved selections - changes to previously selected designs will also eat into your designer costs. If you are un-certain, wait a day & then approve your decisions. Once you do, don’t look back.
Changes can have an unexpected effect. A simple change could necessitate a cascade of other specifications to be re-selected. This can quickly add un-necessary design fees.
Don’t miss your key meetings! All decision makers should be present so that you can be the most efficient. Don’t spend money on redundant meetings – spend it on your home.
6. When in doubt, phase it out!
If you are unable to complete the entirety of your desired project plan at this time, don’t be afraid to phase out portions/spaces to be completed at a future date. Your designer shouldn’t mind awaiting the perfect time to complete your dream home, especially if your current budget doesn’t meet your desired timeline. Use your High/Low Design approach to prioritize the most important spaces for Phase 1.
We hope to have provided some valuable tips on how to maximize the value of your dollar and insight into healthy budgeting and standard design processes. We encourage you to follow us on Instagram @DavincInteriors123 for future tips. Feel free to reach out for an initial consultation- we are happy to assist 512-537-3100 https://www.davinciinteriors.com/contact
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