Do you know how to create a realistic budget for your room design? How much should you spend on your next home project? Most people aren’t sure what their budget should be, or are certain about which quality furnishings to choose. A clearly defined budget is essential to the success of your decorating project. It should be created with the end in mind and by the quality furnishings you choose.
Why Have a Clearly Defined Budget?
A budget isn’t about restricting what you can spend. It gives you permission to spend without guilt or regret. – Dave Ramsey | Financial Counselor
When you have a clearly defined budget you’re in complete control of your home project. It ensures you will have enough money for the furnishings you need and the furnishings that are important to you.
Without a clearly defined budget you’re at risk for experiencing unexpected financial stress and losing control of your home project.
How Much Should You Spend?
- What you SHOULD spend on your home project needs to be determined by two important factors… PRIORITIES AND VALUES!
2. Your PRIORITIES need to be specific and finite – Which room will you start first? How much do you want to spend in that area? Should your current plan include decorating one room or two rooms?
3. Your VALUES are determined by the level of quality you expect from each individual item you plan to place in your home project.
Create a Realistic Budget
Failing to Plan… Is Planning to Fail – Alan Lakein | Time Management Author
Put together a realistic budget for your next project by downloading the Room Design Budget Tool. It will help you determine your budget based on your priorities and values. This valuable tool is free to our subscribers.
When you create a realistic budget, you’re prioritizing and planning your home project based on using real numbers of the current cost of furnishings you choose to incorporate into your project.
What’s Most Important To You?
Think about the top three priorities you’d like to accomplish in your home project and write them down. Then consider your expectations of the quality of each product you plan to incorporate in your project.
The Room Design Budget Tool
Is free and is available to Practical Stylish Living subscribers. It’s a powerful tool to help you develop a realistic budget. The tool consists of interior rooms broken into five categories: Furnishings, Windows, Walls, Flooring and Lighting.
Within each of these categories is a list of commonly used items from three different QUALITY LEVEL stores. Providing the three different quality level stores allow you to be in complete control of how to designate the spending in your home project.
Designer Tip: As you create your realistic budget… be honest in your category selections. Don’t get discourage if your budget increases. There’s always the option to balance your budget by swapping quality level furnishings according to your priorities.
Be honest about what you want and what you can afford. – Kimberly R. Jones, Interior Designer
The Room Design Budget Tool is only helpful if it is as accurate as possible. Stay true to your priorities and values. It’s the only way you’ll truly get an understanding what your budget should be! Get started on creating your realistic budget today so you can enjoy the room of your dreams.