How Do You Determine an Interior Design Budget?

How Do You Determine an Interior Design Budget?

Determining the budget for a design project takes time, research, knowledge and planning… but this part of the design process is CRITICAL. Proceeding without a budget is like navigating blindfolded!

So how do you determine your budget? What should you know going in? Let’s talk about it.

Calgary firm discusses how to determine an interior design budget realistically

HOW DO WE TALK ABOUT MONEY?

There’s a common misconception that your “budget” is that magic number you’re comfortable spending on your project and you’ll get everything on your wishlist. In reality, quite a bit more goes into it!

Here’s a quick definition of the terms we use to talk about money:

• The Investment: What you are comfortable spending on the project

• The Scope: What we are doing in the project

• The Budget: Based on the scope and project factors below, what the project will actually cost

Calgary firm discusses how to determine an interior design budget realistically

WHICH FACTORS PLAY A ROLE IN DETERMINING YOUR BUDGET?

The budget required to achieve the desired results in your home depends on…

• Scope of the project (more on how to define project scope here)

• Level of quality required by the existing architecture and the neighborhood

• Real estate valuations

• Taste level and personal aesthetic (know what your must-haves cost!)

• What you can afford

• Timing of the project & expected completion date

These are all factors we’ll discuss with you during our action-packed 2-hour initial design consultation.

TIPS FOR APPROACHING THE BUDGET CONVERSATION

Calgary firm discusses how to determine an interior design budget realistically

1. BE HONEST

Be honest about how much you are comfortable spending. This will allow us to give you the proper direction regarding quality, sources, and appropriate scope.

2. BE AWARE OF PROJECT MINIMUMS

Whether it’s a large bathroom or a small one, labour costs tend to stay fairly consistent: the plumber still comes 3 times, the tile setter has to buy a full bag of thin set, not a half-bag, and so on.

3. RESEARCH YOUR MUST-HAVES

Most of our clients aren’t sure which elements are involved in a renovation, design, or décor project, let alone costs for things like cabinetry, furniture, appliances, window treatments, products, labour, and finishes.

While it’s completely normal to feel a bit in the dark, we recommend you do some pricing research for any must-haves on your list. Need a marble counter in the master bathroom? Or a floor-to-ceiling, envy-of-your-neighbors wine fridge? Research those items in advance.

4. REMEMBER THAT QUALITY SAVES

At LBI, we have project quality standards that allow us to confidently leave a project knowing we can stand behind the work. Yes, quality costs more, but it saves everyone in the long run.

Calgary firm discusses how to determine an interior design budget realistically

HOW DOES LBI HELP YOU REFINE YOUR BUDGET?

In addition to discussing all the factors influencing your project, here are 3 other ways we help you refine your budget for your goals:

1. AN EYE ON VALUE

Value is that perfect marriage of quality and cost. We always promote value when considering decisions for your project. We’ll offer a splurge / save approach to finishes and products and point you in the direction of the best long-term value for your money.

2. QUOTES RECEIVED

Once we know the scope of your project and your aesthetic goals, we’ll be able to compile the necessary quotes. The budget is determined after quote requests are received and we’ve given careful consideration to the project and expenses as a whole.

At this point, informed decisions can be made on how we proceed.

3. CREATIVITY WHERE NEEDED

Occasionally, we do have to inform clients that their needs and expectations for a project exceed their available investment. In that case, there are a few ways we can get creative:

  • The project can be deferred until the budget allows, or the budget can be increased to realize the project.
  • The project scope can be revised or reduced to meet the functional and aesthetic needs of the space within the budget. This could mean addressing one room to completion instead of two or more incomplete spaces.
  • We sometimes suggest staggering the phases of a project over time. This allows the budget and the bank account to recover after each phase, but this is ONLY recommended if the project can still be completed within 2 years. After this time, availability of specified product or finishes makes it difficult to continue on plan without reselection or with a lack of continuity.

Calgary firm discusses how to determine an interior design budget realistically

You can see that creating a budget is pretty nuanced, but believe me when I say that it’s THE most important thing you need for a successful design project.

Remember, too — you’re not alone.

If you work with an interior design firm, they’ll be sure to help you refine your budget realistically. And knowing all this information going in is the best way to have a confident, realistic, and productive conversation… and get you closer to your dream home. 😉

Okay, I’ll wrap this up here, but as always, feel free to reach out with any questions. We’re here for you and we love what we do!

XxLeAnne

want to work with us?

GET IN TOUCH

social media

pinterest linkedin

instagram

  • 🌘The wallpaper obsession continues!🌒⠀
⠀
This gorgeous wallpaper is from our sourcing trip to ICFF + NYC and is now available to purchase through LeAnne Bunnell Interiors. We’re pleased as punch to have this line in our hot little hands.

DM us to see more patterns + colours and how we can help you get this beauty in your project ⠀
⠀
LeAnne Bunnell Interiors⠀
Calgary, AB⠀
www.leannebunnell.com⠀
⠀
⠀
⠀
#leannebunnellinteriors #interiordesign #flatlay #interiorinspo #yycinteriors #yycinteriordesign #yyc #yycdesign #designlife #calgary #calgaryhomes #yycliving #design #interiors #houseinteriors #interiorlovers #homedecor #homestyle #interiorstyling #showhouse #luxuryhomes #calgarydesign #calgaryliving #customhomes #designhounds #yycnow #yychomes #calgaryhomes #calgarybuzz #myhgtv #dailyhivecalgary
  • One question I hear frequently is, “Can my project be completed by a specific date?”⠀
⠀
Well we aim to please!💛 We love  generous, realistic timeframes, as this allows us to provide the best results both aesthetically and budget wise. ⠀
We make and execute plans quickly. We take care of all the details, and we use tried-and-true trades, suppliers & methods.⠀
⠀
It's best to call us as early as possible to make sure we can complete a project on time for you, but there are many elements on a project out of our control. We can always discuss what has to give to hit a tight timeline.⏱ ⠀
⠀
⠀
LeAnne Bunnell Interiors⠀
Calgary, AB⠀
www.leannebunnell.com⠀
⠀
⠀
⠀
#leannebunnellinteriors #interiordesign #interiorinspo #yycinteriors #yycinteriordesign #yyc #yycdesign #designlife #calgary #calgaryhomes #yycliving #design #interiors #houseinteriors #interiorlovers #homedecor #homestyle #interiorstyling #showhouse #luxuryhomes #calgarydesign #calgaryliving #customhomes #designhounds #yycnow #yychomes #calgaryhomes #calgarybuzz #curiositycalgary #dailyhivecalgary⠀
  • If you know you want to feel relaxed in your kitchen, we can give you a design that inspires ALL the soothing after-work vibes you crave. Or maybe you want a lively, conversation-inspiring kitchen instead?⠀
⠀
Whatever emotions you want your dream kitchen to inspire, we can help with that and this....⠀
⠀
⠀
LeAnne Bunnell Interiors⠀
Calgary, AB⠀
www.leannebunnell.com⠀
⠀
⠀
⠀
#leannebunnellinteriors #interiordesign #interiorinspo #yycinteriors #yycinteriordesign #yyc #yycdesign #designlife #calgary #calgaryhomes #yycliving #design #interiors #houseinteriors #interiorlovers #homedecor #homestyle #interiorstyling #showhouse #luxuryhomes #calgarydesign #calgaryliving #customhomes #designhounds #yycnow #yychomes #calgaryhomes #calgarybuzz #curiositycalgary #dailyhivecalgary #featuredhomedecor
  • As an interior designer I am a huge fan of CAD (Computer Aided Design) ever wonder what makes the difference?⠀
⠀
..... Well grab your coffee and let me tell you! ☕️ ⠀
⠀
1. COMMUNICATION - Our schematics tell our contractors and trades exactly what to do. Our drawing sets include everything from lighting locations, millwork design, tile layouts, to locations of new partitions. ⠀
⠀
2. THE DETAILS - The difference between good design and great design is in the details. Our drawings always include construction details to deal with tricky on-site conditions. CAD allows us to clearly communicate those details to our clients and trades.⠀
⠀
3. COST SAVINGS: “An ounce of prevention is worth a pound of cure”. Mistakes in the construction phase can be very costly so getting everything right at the onset can save you huge. Invest in a good set of drawings to ensure everyone is on the same page and things are executed exactly the way you envision.⠀
⠀
While designing offers a time for creativity and inspiration the execution of theses plans needs strategy. We hope this inspires you to use a design professional, and get the drawings you need, for your next project!⠀
⠀
⠀
LeAnne Bunnell Interiors⠀
Calgary, AB⠀
www.leannebunnell.com⠀
⠀
⠀
⠀
#leannebunnellinteriors #interiordesign #interiorinspo #yycinteriors #yycinteriordesign #yyc #yycdesign #designlife #calgary #calgaryhomes #yycliving #design #interiors #houseinteriors #interiorlovers #homedecor #homestyle #interiorstyling #showhouse #luxuryhomes #calgarydesign #calgaryliving #customhomes #designhounds #yycnow #yychomes #calgaryhomes #calgarybuzz #curiositycalgary #dailyhivecalgary⠀#featureshomedecor
  • How to design an kitchen that makes your life easier?⠀
⠀
My team and I designed a kitchen for a large family with a penchant for entertaining — and nearly every design decision we made catered precisely to their needs. As I wrote that post for you, it got me thinking: Wouldn’t you like to know how we design spaces that work hard for you? 💭 ⠀
⠀
In the design world, form follows function — we can’t design a great space until we know exactly what you need it to do for you.⠀
Head over to our latest post to see the first 5 questions we ask before designing your dream kitchen. 👩‍🍳 ⠀
⠀
⠀
⠀
LeAnne Bunnell Interiors⠀
Calgary, AB⠀
www.leannebunnell.com⠀
⠀
⠀
⠀
#leannebunnellinteriors #interiordesign #interiorinspo #yycinteriors #yycinteriordesign #yyc #yycdesign #designlife #calgary #calgaryhomes #yycliving #design #interiors #houseinteriors #interiorlovers #homedecor #homestyle #interiorstyling #showhouse #luxuryhomes #calgarydesign #calgaryliving #customhomes #designhounds #yycnow #yychomes #calgaryhomes #calgarybuzz #curiositycalgary #dailyhivecalgary⠀