When it comes to home renovation or decorating projects, one of the most common misconceptions is around investment expectations. Often, homeowners believe their initial investment estimate will cover their entire wishlist, but this isn't always the case. As an interior designer, it's crucial to help clients set realistic investment expectations at the beginning of the design process, ensuring they don't dream up a design they can't afford.

So, what is a design budget?

Simply put, it's the actual cost of the goods and services required to complete your project. It's important to note that the investment can only be finalized after the design phase, when technical drawings are complete, and all aspects of the design have been quoted. For example, if you have a rough estimate of around 80,000€ for your home renovation in your head is a good starting point, but remember that this number refers to an amount you're comfortable investing, not necessarily the exact cost of the project.

At Own Space, we begin the conversation about your investment in the very early stages of the project, typically during the initial design consultation. If you need assistance in developing a comprehensive investment plan, we can help you during the onboarding phase.

What can impact your interior design budget?

Scope of work: A full-scale renovation will require a larger investment compared to a simple redecoration project.

Property type: Think about if your property is for short-term or long-term use. For a permanent home, it's best to invest in high-quality materials, while a holiday home can use low-maintenance choices.

Quality of materials: Using high-quality materials leads to a better finish, lasts longer, and needs less maintenance.

Timeline: Tight deadlines may need faster services and deliveries, which can raise costs.

In conclusion, setting realistic interior design investment expectations is essential for any homeowner looking for a renovation or decoration project. By taking these factors into account and working closely with an interior designer, you can create a beautiful, functional space that meets both your expectations and investment.

See you in the next Blog Post! 👋

Paola.