How to budget for home interior decor
- Angela Wilson
- Consultant
In short
Decorating your home is far less stressful with a clear budget behind it. List what you want to achieve, prioritise the big items, and ease the pressure by staging the work and budgeting room by room. A contingency fund, some help from a designer and a simple spending tracker all make it easier to end up with the home you want without overspending.
Table of contents
How should I allocate my budget?
The first step is to allocate a budget to your home decor. Whether youâre building new or renovating, make a start by putting your ideas down on paper. List what you want to accomplish and what needs to be purchased in order to make it happen. Then, prioritise it; decide what the important items are and allocate budget to these things first. Whatever is leftover can go towards the smaller details and accessories.
Remember, it doesnât all have to be completed at once. Yes, that would be nice, but you can ease the pressure of your budget by staging the project.
Also, breaking down the overall budget into smaller chunks for each room gives you a much better chance of staying within it. And it never hurts to have a back up so plan a contingency fund as well.
Using your existing furniture helps keeps costs down.
Surprisingly, enlisting the help of an interior designer can help keep costs in check. Their fees vary so ask at the outset. But once youâve made an agreement and a budget has been set, itâs their job to give you what you want within your means. They often have access to better deals than you will get yourself in retail stores and their knowledge or where to find what is extensive.
How do I estimate the bigger ticket items?
You can get some ballpark figures on things like cladding, flooring and painting at Builderscrack using their cost estimators. They do vary widely from low-cost to extravagant, but at least it will give you an idea of where youâre comfortable before you go shopping around. For window furnishings specifically, see how curtain and blind prices work.
When it comes to renovations, according to this article from Westpac the average price across a whole house is around $2,200 per square metre. Updating kitchens and bathrooms and adding extra bedrooms offer a good return on investment when it comes to resale. But you donât need to be driven by that if you intend to renovate for your own long-term comfort.
How do I keep track of my budget?
Ready to find the right window furnishings for your home? Request a free in-home consultation and one of our local consultants will bring the samples to you, measure up, and give you a no-obligation quote.
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Frequently asked questions
How do I set a realistic budget for decorating my home?
Start by writing down everything you want to achieve and what you will need to buy to get there. Then prioritise, putting your budget towards the most important items first and letting the smaller details and accessories share whatever is left.
How can I ease the pressure on my budget?
You don't have to do everything at once. Staging the project over time, breaking the overall budget into smaller amounts per room, and using furniture you already own all help keep costs manageable. It is also wise to set aside a contingency fund for surprises.
Does hiring an interior designer save money?
It often can. While designers charge a fee, which is worth confirming up front, they work to deliver what you want within an agreed budget. They frequently have access to better deals than retail customers, along with extensive knowledge of where to find things.
How much should I expect a renovation to cost?
According to Westpac, renovations average around $2,200 per square metre across a whole house. Updating kitchens and bathrooms and adding bedrooms tend to offer the best return at resale, though comfort matters just as much if you plan to stay long term.
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