How Much Will it Cost to Decorate a Room in My Home
Source: Studio McGee
We’re going to talk about the “b-word” — Budget! It doesn’t have to be a scary or stifling thing, either. I want to show you the freedom and joy that can come when you have a home decorating budget that actually feels good! For most people, the challenge with budgeting for their homes comes in that they don’t have a good sense of what furniture & decor items - especially those of quality - actually cost. I am giving away every tip, trick, and resource I know to help you build a home decorating budget you can be confident in.
Budgeting for Your Home is Hard
Why is it so hard? Because the value of things is subjective. When it comes to selecting your home decorating budget, the “sweet spot” is your personal intersection between “value” and “quality” for the money. Ask yourself: Will you be happier with an item in your space if it’s of higher quality? OR will you feel happier knowing you got the biggest “bang for your buck?”
Neither is wrong, and more than likely you’ll want a little bit of both, but it’s important that we first define “value” and “quality.”
How do you value the items in your home?
How do you value the different items in your home? Most people, value the selection of their sofa more than art. Meaning they are willing to spend more money and value the impact that the sofa will make in their space and lifestyle, more than a piece of art.
However, those with a deep appreciation for art might think differently. The quality of the sofa becomes less important and thus less valuable in the design.
To get started, think about where you save and where you splurge, based on what you personally value and what the design of your space requires.
What will impact your decorating budget?
The Quality Required - The quality of the materials in the structure of your furniture & decor will have the greatest impact on price. It’s the difference between MDF board furniture and real hardwood furniture. How do you know if it’s worth it to splurge on quality - think about use. How frequently will it get used? How much will it hold? What abuse will it need to take, and for how long? If you want your design to last 10 years + you need to up the quality. To help you create a budget based on quality, we’ve created this budget calculator.
The Size of Your Space - Your space is a budget buster many people forget about. The more square footage in your space, the more items are required to fill it. Not only will you need more items, but you’ll also likely need larger items to be in proper proportion with your space. All of these things will impact your budget in a big way. To help you determine how much you can expect to furnish & decorate your space based on square footage, we’ve created this budget calculator.
Your Design Style Preference - One of the reasons Modern Farmhouse became so popular was because it’s a design style that is easily affordable and accessible to the vast majority of people. Currently, we’re seeing a return to more traditional and classic styles filled with more ornate pieces with millwork detail and more sustainable materials. Your personal style and the types of items associated with that style will affect your budget.
But how do you calculate product quality, size of space, and style preference? Well friend we created the ultimate home-decorating budget calculator
Home Decorating Budget Calculator
When you download the calculator you’ll see two different budget options. One that is itemized based on furniture or decor type and another by square footage. For both budget calculators, we’ve created a four-tier “value” system to help you see what quality costs.
To keep things simple and relatable we’ve labeled the tiers: Target, Wayfair, Pottery Barn, and Restoration Hardware. Why? Because chances are you have a pretty good idea of the quality you can expect at the price points those various retailers provide.
Budget Per Item Calculator - This first calculator you’ll see on the spreadsheet allows you to tally up individual items based on these 4 value tiers. Want a Pottery Barn quality sofa but a Target quality coffee table? This calculator allows you to get really granular and specific.
Budget Based on Square Footage Calculator - We took into account multiple factors when creating the algorithm for this calculator to get the price per square foot just right. This is a great way for you to get clarity around what an entire space might cost, based on the size of your space, at one of the 4 value tiers.
Okay, you’ve got a good sense of your home decorating project budget….now what?
Make a Decorating Plan and Stick to It!
The BIGGEST and most costly thing you can do in your home decorating project is to not have a plan. When I say a plan I mean one with actually sourced products that you KNOW go together and will work for the size, style, and design of your space.
We surveyed our followers and found they have spent anywhere from $500-$10,000 in decorating mistakes! Talk about a budget buster! Thinking, “I’ll know it when I see it” and “I’m sure I can pull it together” can literally cost you thousands.
It’s not worth it to not have a plan. Our team of virtual interior designers are here to help you do just that - create a design plan that fits your needs, style, space, and most importantly …. your budget!
Source: McGee & Co
Expect the Unexpected
Any smart financier will tell you to set up a rainy day fund first? Why, because sometimes it rains, the unexpected happens and you don’t want to be left in a lurch. When you are budgeting for your furnishings & decor, that’s really only a part of the budget. You also need to calculate for taxes, shipping fees, freight delivery, and any home service installation you may need.
Adding an extra 10-12% to your budget will help ensure you have adequate coverage and don’t have to sacrifice on design, quality, or preference.
How to Decorate Your Space and Stay on Budget
Most homeowners don’t have 10K lying around ready to spend in one lump sum for a home decorating project, if you do that’s amazing and an ideal way to ensure that the decorating plan you’ve created can be completed swiftly without compromise. If that’s not your reality, don’t sweat! Here are two ways to go about completing your project so you can save as you go.
Decorate in Phases - This is my preferred method if you’re going to be breaking it up. Why? Because it’s easier to stay on plan, and not deviate - potentially costing you. Start with paint/renovations, then add your big pieces, and finally fill in with the accessories. Have firm “deadlines” around where you believe you’ll have the budget to complete a new phase of your plan. You’ll be able to enjoy your space as you go.
Decorate in Pieces - If you can avoid this, do! Why? Because it’s a red flag for budget-busting and it will drastically slow down your timeline for completion. Purchasing a piece here and a piece there I guarantee will cause you to get distracted, get off of the plan, and start to make costly decorating mistakes.
Our Favorite Budgeting Tool
There are so many great tools out there from Every Dollar, Mint, Digit , which will create savings without you even noticing! My personal favorite is YNAB or You Need A Budget. I have been using this tool for years! Not only for my personal finances but for Homzie’s Business finances as well. It allows you to see and plan for how every dollar is going to be spent! You can create savings goals, targets, and keep your home decorating budget on track!
Work 1:1 With One Of Our Expert Virtual Interior Designers
Work with a Homzie virtual interior designer to create a customized shoppable design plan tailored to your needs, style, and budget. All for a low flat-room rate.