SETTING A BUDGET (and why it’s important)
Budget realization is a tough pill to swallow for some clients - but it doesn’t have to be. Many people shy away from hiring interior designers because they worry they are too expensive. At the end of the day it’s important for you to know that having a designer isn’t a luxury but in many cases essential to the success and finished product of the space. Sticker shock often drives projects askew and can create a ripple effect in the relationship you have with your designer. This post will be to explain some of these nuances and how to navigate through a project.
So first, let’s be honest! REAL honest! Everyone has a different level of expectation from their designer. What you want/need will vary along with your taste of what you consider to be of luxury or quality. Let me break this down to fashion. For some, a pair of Christian Louboutin heels (the ones with the red bottoms) are considered to be their favorite pair of dressy shoes - with a sticker price of $3K in some cases. For others, maybe it’s going to DSW and seeing what the latest season brought in and you find the perfect pair for $60. Obviously, there is a drastic difference - but they both have a pair of heels that they love.
Believe it or not, this is the same with purchasing furniture and setting your budget. In the end you will have a room you love - but we need to know where your headspace is. Let me use a sofa as a perfect example. You can order a custom sofa that is made in the USA, that is hand knotted, with down fill, and beautifully selected fabric that will take 24 weeks (yes you read that right) to receive. This piece could run you anywhere between $8K-$30K - and no I’m not exaggerating. And yet, you can also go to Pottery Barn or Bassett Furniture and purchase a $3K-$5K sofa that is still high quality. Both options still give you a sofa that you’ll love. With that said - as your designer, we need to know where your head is at in terms of cost, so when we go to the drawing board, we know and understand what your budget is. We don’t want you to have sticker shock. We also don’t want you to feel like you need to walk away from the project because it was more than what you wanted to spend, only for you to rewind ALL the research and create a DO OVER for yourself.
Also, there are perks that are maybe unknown to the general public. In the above mentioned, I used “retail” brands to give you a frame of reference. Pottery Barn, Louboutin, and even DSW are nationally known brands that everyone can immediately understand. But, what I - as well as most designers - have is a relationship with “trade” vendors - aka the manufacturer. Therefore, I’m going to the original source to purchase your furniture, lighting, and accessories. That means we eliminate the middle man, and get much better pricing. Often times part of those savings get passed onto you, saving you $$$ big bucks! And in many ways - your savings help cover the Flat Rate Fee for some of the work on the project.
So in beginning a project, we will have a conversation up front that will clearly define not only what my Flat Rate will be (based off the scope of the project) but also, where you stand with your “not to exceed” budget. This is where you would feel most comfortable in creating your finished room. There is truly a pair of heels for everyone - and - a finished room. But you need to be honest with yourself - and have this conversation with your spouse. Be on the same page with what the budget looks like. And, be up front with your designer. We need to know what you’re thinking and having great communication is key in building that client/designer relationship.
Be realistic! No we can’t wave a magic wand and give you a full room makeover with all new furniture for $1K. And no you won’t get a brand new kitchen for $5K. Put some pencil to paper and think about all the aspects to giving a room a refresh, remodel, or new construction. If you need help coming up with a number, we are more than happy to help - but it’s still good to have a ball park figure in mind when approaching a project.
Last but not least, I want to break down some costs associated with a potential project that will help you:
Flat Rate Design Fee: With any project, your designer gets paid for their time and amazing sense of design (and quite a bit of it. See post: Why hire a designer).
Furnishings: What incredible furniture are you putting into the room? Did you think about the lighting, rug, accessories, artwork, and drapery. Yeah… these things can add up but are all still extremely important in finishing a room. Look at your favorite design magazine or show and pause… edit out all of the details and break it down to just the sofa and chairs. It no longer feels special, finished, or important. We purchase all of these items for you, coordinate shipping, storage, delivery, and installation.
Structure: Do you need to paint the room? What about built-in’s? Or (as briefly mentioned above) a new light fixture. All require a tradesperson and in some cases a contractor. Maybe the flooring needs to change, or you want to resurface the fireplace, or even remove a wall. Again, additional work. But here’s the thing with all of these items…. we don’t collect additional $$$ on any structural work. You work with the contractor directly, but we help via our design fee to project manage, and of course select finishes like the stone on the fireplace, or wood flooring. We do, however, order the lighting for you. Because, again, we have great relationships with trade vendors. We are getting paid our Flat Rate Fee (bullet point #1).
All projects will involve Bullet 1 - Flat Rate Design Fee. But they will also dip into Bullet 2 or 3… and maybe both in some instances. But the important part is to think about how we get from point A to point Z when coming to the realization that a budget needs to be honest.
Last but not least - trust! There will be a future post on this very topic, but you have to trust your designer! You need to know we have your best interest in mind and that we will do everything in our power to make it a seamless transition, and give you the home you’ve always dreamt of having.
