The Room of Your Dreams – Create a Design Budget

by Randi Destefano

Have you ever wanted to start a new design renovation project but hesitated because you thought it would cost too much?  Does the thought of putting  a budget together send you into a panic?  If you’ve struggled with the budget for your design project, maybe that’s because you’ve been making things too complicated, or at least you think that it’s too complicated.

Let’s begin by breaking down your dream design project into simple room areas.  One of the best ways to do this is by creating a simple Excel spreadsheet.  If that overwhelms you, then follow these same steps using graph paper or a ledger.

• kitchen
• master bath
• master bedroom
• guest bedroom
• secondary bathrooms
• powder room
• great room
• living room
• dining room
• foyer
• keeping room
• laundry room
• basement
• pantry

1. These are just a some of the room possibilities.  Since your home is unique to you and your family, create your list based on YOUR needs.  I find it most helpful to have a separate sheet for each room to get the best results.  If you’re using excel, label each tab with one of your rooms.
2. Next step is to make a column for all the products needed/wanted for the project.  I like to group these as well.  For example, in a kitchen budget, it’s a good idea to cluster all the appliances together, the cabinets, the tile, etc.
3. The second column is reserved for model numbers and descriptions.  As you make your dream list add this information. Once that is complete, create a column for the budgeted price.  For this, go on line to get price ranges for items you’re interested in.  Add it to your list.  This way you can begin with a running total of where your dreams are leading you.
4. Finally, add the column for the actual purchase price once you’ve found the perfect item.  Again, you’ll always have a running total, and you’ll always be able to stay on top of your spending so it won’t run out of control.

One rule of thumb to keep in mind on a kitchen remodel is to allow:

40% for cabinets

20% for appliances

15% for countertops

10% for flooring

15% for other details (plumbing fixtures, backsplash, knobs, etc.)

I hope that this has helped ease your stress and confusion about planning a budget for your interior design remodeling project.  If you have any questions or comments, I’d be happy to answer them. 

To learn more ways to renovate, decorate, and design your home, download my report in the box on the top right of this page. You’ll get more tips like this delivered right to your inbox!