Redecorating or renovating your home is often really exciting and exhilarating whilst also being incredibly stressful and anxiety-making – depending on the size and scope of the job. From the very first planning stages through to the completion of the project, it is important to have a budget. It helps to make sure that the train stays on the track. However, setting a budget can be a challenge in and of itself – especially if you aren’t particularly knowledgeable on the world of interior design. This is why we have put together the following information for you. Let’s dive in.

Budget & Project

This is sort of one of those chicken and egg scenarios – do you come up with the budget first before deciding which projects to tackle, or do you choose the project before allocating the budget? Actually, the best approach is probably a mix of the two. If the whole house needs a bit of work doing to it, but the budget is more limited, then why not focus on a certain area or project at a time as opposed to spreading it thinly over the entire scope of the work? Think about what projects would make your daily life easier and start with them.

Avoid Rushing into Anything

A renovation or home decoration project almost always suffers (and ends up over budget) when you rush into it. Instead, you should take the time to carry out some research. Think about what you want to achieve and look for some inspiration; it is also worth looking up the prices of different materials and shopping around when looking for different tradespeople. For example, MyBuilder allows you to post your job and look through local roofers, landscapers, plasters, painters, et cetera. They can all provide you with an estimate for the work, and you can think about setting your budget accordingly, remember to include somewhere between 10% and 20% for contingencies.

Reimagining vs Renovating

The desire to let your imagination run wild and design the space as though you are starting from the bare bones is pretty strong. However, if you can, you should resist this temptation. Think about what is already there and whether or not it could be reimagined or given a little bit of a facelift as opposed to ripping it all out in order to start fresh. You might also find that you have some materials which can be recycled or repurposed for the new project. Approaching your interior design projects in this way can really help you to keep costs down and save money because the work will not be nearly as extensive.

DIY or Expert Hire

A lot of people do think that going down the DIY route is a lot more budget-friendly, and it totally can be, but it isn’t necessarily cheaper by default. There are definitely some jobs that will be within your remit, and using online tutorials can help to bridge any gaps in knowledge. But that being said, there are also going to be jobs that are not within your wheelhouse. Instead of trying to muddle along because you think it’s going to save you some money, you should always hire a professional. If not, you might end up making mistakes which are costly to fix. They have the expertise and experience that you lack, and the work will be finished to a much better standard, and it is likely to be done more quickly too. They truly are worth every penny.

Saving Money

There are a number of ways that you can save money on an interior design project – some of which have been outlined above – but, luckily for you, there’s more. You can try shopping for secondhand pieces to incorporate into your design. This is both cheaper and more sustainable. If you have something that has potential but just doesn’t quite work, then why not try upcycling it to make better use of it? If the project is a little bigger and you have to buy new, then you can always ask to buy the shopfloor or display models; these are often cheaper because they have obviously seen more use, although, in terms of wear-and-tear, they are usually pretty pristine.

Where to Splurge

Truthfully, it is kind of difficult to advise you on where you should splurge in terms of your interior design because everyone has different tastes. There might be certain things or elements that you believe are worth it, and although others would likely disagree, you should still go for it. However, there are a few general rules that are probably going to want to adhere to when it comes to investing in your home. Firstly, it makes sense to spend a little more on areas which see more footfall or take more of a beating during their lifespan. This predominantly means the kitchen and the living room since this is typically where most people spend the most time, and they are also hubs for entertaining too.

Lighting and window dressings are also pretty important in terms of home design, and so they are generally seen as worthy of investment. This is because getting enough natural light in the home really helps to open the space up and make it seem bigger and brighter. Poor lighting makes a home seem drearier and more miserable. This is why it is worth spending your money on light fixtures; they can become a feature in their own right. The same can be said for window dressings. The curtains and how you hang them can even help to elongate the room and make the ceilings appear taller. Having them hang lower or even to the floor and placing the curtain poles higher can make a room feel more expensive.

Within a similar sort of vein, investing in fabrics as a whole tends to be a good idea because the quality is evident in their appearance. Higher quality fabrics also tend to last longer, and the same can be said for wallpaper too. This means that whilst you are likely to spend more, to begin with, you will not need to repurchase as regularly, which does tend to make them worth the investment. You might think that the same principle applies to furniture – and it can, but, on the other hand, you can choose secondhand or refurbished pieces which are made of quality materials, not to mention the fact that old furniture was built to last, not like furniture today which is built more from a planned obsolescence point of view.

The Bottom Line

A lot of homes today are bought as a fixer-upper; buyers are enticed because they are cheaper to purchase and they hold a lot of potential. However, it is only after moving in that they really realise the magnitude of the renovations needed. This can be a little overwhelming, especially if this is your first home or your first big renovation project. It is really easy to find yourself running away with the project if you haven’t planned it properly or implemented a budget. Next time you take on a home improvement project make sure you refer back to the tips above, things will go much more smoothly.