How to Budget for Your Design Project

HGTV is an interior designer’s worst nightmare. Ok, maybe that’s an exaggeration. But when it comes to figuring out an ideal budget for your design project, it’s certainly less than helpful! So many of the items and services on those shows are donated in exchange for publicity, bringing the total job cost way down. And don’t even get me started on their furnishings – the homeowner usually has to buy those separately AFTER the show is over, so the numbers discussed on air almost never include them.

I digress.

Let’s talk about some real life numbers that will help you prepare for your next remodel or furnishing project. I’ll be linking to trusted sources when possible. And keep in mind that these numbers are not firm – every project is different and it’s impossible to get an exact budget until after all of the selections have been made.

 

CONSTRUCTION

According to Cost vs. Value by Zonda Media, the average cost for a midrange bathroom remodel on the West Coast is about $35k. However, I recently designed a midrange bathroom remodel and we ended up in the $45-50k range. The size of the bathroom plays a role here, but COVID-19 is certainly causing price increases across the board. And if you tend to prefer higher end materials, the average cost for an upscale bathroom remodel is about $90k.

For kitchen remodels, you’ll be looking at an average of $100k for a midrange kitchen, and $175k+ for an upscale kitchen. Cabinetry and labor costs typically determine a large portion of the overall cost of your kitchen. And of course, if you keep your flooring or repurpose your appliances, you’ll bring your costs down.

Pro tip: once you’ve calculated an ideal budget for your construction project, plan for an additional 10-15% as a contingency. Things do go wrong, and you may end up needing to add onto the scope at some point, too.

 

FURNITURE

Like construction, furnishing projects offer a lot of opportunity for price increases, depending on the level of quality and luxury you’re aiming for. I find that it’s helpful to take one room and figure out the average price for each piece you might want to include in that space.

Let’s take your living room for example. Keep in mind that this reflects average furniture prices from to-the-trade sources, which are higher quality and longer-lasting pieces than you’ll find online. And if you tend to prefer luxury or statement pieces, prices will go up from here.

Fabric 3-seater sofa: $3600

Fabric Loveseat: $2200

Leather Accent Chairs (2): $1200 (x2 = $2400)

Coffee Table: $1000

Accent Tables (3): $300 (x3 = $900)

Sofa Console Table: $900

Media Cabinet: $2,500

Large Area Rug: $2000

Accent Pillows: $400

Artwork: $2,000

Lamps (2): $300 (x2 = $600)

Shipping & Handling (typically 20% of the cost of the items): $3,700

Accessories: $1000

Mapping it out like this helps you to visualize what to expect for the entire space. If you add up all of these numbers, you’re looking at just over $23k for a living room. Some rooms will require fewer pieces – like your dining room, for example – so you can expect that some rooms will have a lower overall price tag. I always tell my clients to start with an ideal budget of $20-25k per space, because it typically evens out with some rooms coming in higher and some lower.

 

DESIGN FEES

If you’re planning on hiring Studio Connolly for your design project, I’ll provide you with an estimate of design fees for your project before you sign a contract. My hourly rate is currently $200/hour, and I’ll take a look at some of my past projects with a similar scope to yours in order to give you a realistic idea of what to expect. Fees will vary based on your project scope, but you can expect to see estimates in the 40-60 hour range for a whole house furnishing OR remodel project, and 80-100 hours for a whole house remodel AND furniture selections.

Hopefully these numbers help you to wrap your head around the daunting task of budgeting for your next home improvement project! HGTV is great for inspiration, but real numbers are empowering. And if you’re ready to get started, contact me today so we can set up a consultation.

Happy planning,