A budget is any designer’s most offensive word as it determines everything that goes into your design. Whether you’ve saved up hundreds or even thousands of dollars, you will still need to make tough decisions and plan carefully to stick within your allowance. The good news is budgeting doesn’t have to be bad, as you can still decorate smart using informed decisions and getting the most out of your budget.
Here are 7 Steps to Maximizing Your Design Budget.
Step 1: Create a Design Wish List
Without the budget in mind, write down every goal you want to achieve with your design. Do you want more storage space? Add built-ins or purchase a new armoire. Be specific and don’t forget to include what needs to be fixed, purchased and upgraded. No design will look good under old carpets and cracked walls.
Step 2: Determine Your Budget
Be honest with yourself and determine your budget. See how much you can spend without going bankrupt. It makes better sense to set a saving rather than going overboard on your credit card.
Step 3: Prioritize Labor and Purchases
Start considering the costs of your decorating wish list and labor. People tend to forget about framing, painting and other jobs in their budget. Be sure to add those in as well.
Step 4: Start a Draft
Create a blueprint of what you want to achieve. This will help you stay organized and aware of your space.
Step 5: Invest on Important Features
Spend one key feature of the room that you may also be using every day. This could be built-ins, flooring, and furniture with rich upholstery.
Step 6: Stay Away from Budget Killers
Save at least 15% of your budget for unexpected expenses. That way, you will still have reserved money to pay simply unexpected matters.
Step 7: Take Your Time
Unless you have no budget, chances are you may not be able to do everything at once. Make a long-term plan to spread out expenses.
Design and budget go hand in hand, especially when you have to live with the choices you’ve made. Be ready to downsize particular furnishing if you have to take a big chunk out of your budget for remodeling.