Are you struggling to come up with a realistic budget for your next home improvement project or decorating re-do? Check out this post to see how to budget for a room makeover!
When I meet with a new client they always say…”I knew you were going to ask this question!” (Yet, they still seem a little caught off guard!) It’s the least favorite thing to talk about in the design process…BUDGET.
It might not be a fun part of the process, but it’s crucial! You need to decide on what you are willing and able to spend on your space. This might be tough if you have a smaller budget, but that doesn’t mean it’s impossible.
(Before you get started, you might want to check out this post: 5 Ways To Get The Most Out Of Your Decorating Budget. )
Here’s how to budget for a room makeover…
First off, you will need to decide if you are going to do it all at once or in stages? If you have the budget to do everything at once, that’s awesome. However, you might need to decide what you can live with a little longer and you want to be changed immediately.
If you can’t afford to do it all at once, then you’ll be better off doing the project in phases. Here’s the caveat: You need to complete one room before moving on to another!! DON’T do a little bit in one room and a little bit in another.
You want to take inventory of everything you already own and what you need to purchase. Then it’s time to start assigning dollar figures. It’s easiest to do this in reverse order.
- Write down all the items or services you will need for the room and a total budget amount at the bottom. Be sure you pick a figure you’re comfortable spending. This final number should also be reasonable with a number of things you have to buy. (It’s better to overestimate than to underestimate!)
- Next, start assigning numbers to each item according to how much you think each item will cost…or how much you feel comfortable spending.
- Play with the amounts until you have a number that’s UNDER your planned total. (It’s important to remember to budget at least 20% for the unplanned issues that may occur and taxes or fees.)
You can do this on a sheet of paper, or I’ve made a printable to help you with this exercise. You can get it HERE—>>