How to Define Interior Design Budget

12 Apr
Published by Margaret Jules

When it comes time to makeover the inside of your home or business, it is important to set an interior design and remodeling budget. An interior design and remodeling budget can help you manage your money so you stay within your means and do not waste money when redesigning a room.

Material and Services to Price out before Making a Budget

  1. Lumber
  2. Paint
  3. Tools
  4. Nails
  5. Drywall
  6. Wallpaper
  7. Furniture
  8. Lighting
  9. Window Decorations ( curtains)
  10. Flooring
  11. Decoration ( paintings, wall art, clocks, shelving)
  12. Electrician
  13. Interior Designer
  14. Plumber
  15. Painters

Now once you have priced out all the material and services you would need to makeup over the rooms in a home or office, come up with an estimate budget amount and write it down. You will also require writing down an emergency budget limit for unexpected situations that could come up during remolding. However, do not set the emergency budget any higher than $500.00 otherwise you could cause yourself to over spend.

Once you have the material and service budget and the emergency budget add them together and that is the maximum amount you are allowed to use while redesigning the rooms, but do not use the emergency fund unless you absolutely have too because remember it’s just there for the emergency only.

Working Example

Estimated Material Budget $2,000.00

Estimated Service Expenses $1,000.00

Emergency Budget $500.00 (only use if emergency comes up)

Total of Interior Design Budget $3,500.00

Importance of Sticking to Material and Services You Priced Out

When you are ready to get the material and hire the services to makeover rooms in a home or business, it is important to stick to them and do not change anything unless there is an emergency. However, if you find different material you like and services that are better and more affordable, you may make the required changes within the decided budget.

Sticking to the Emergency Budget when an Emergency Comes Up

Now, when an emergency comes up look at your emergency budget and ask yourself how you can fix the emergency you have with the amount of money you budgeted. You may actually have to fix the emergency with cheaper material or services, but whatever you do; do not go over the emergency budget or you will spend more than you planed for and could end up in debt.

Bottom Line

By now, you should have an idea of how to properly create an interior design budget to help you manage your money and not go into debt while redesigning rooms in a home or business.

About the author: Margaret is a blogger by profession. She loves writing on environment and automotto. Beside this she is fond of books. She recently did an article on Tata Safari. These days she is busy in writing an article on kallista.