How to Create a Design Budget

A Step-By-Step Guide to Keeping Your Remodel Affordable

From home design magazines to Pinterest, there’s no shortage of inspiration out there, and looking at a perfectly styled room can lead to all sorts of remodel dreams. If you’ve ever found yourself pondering your own home and wondering what it’d be like to do a total transformation, you’re not alone. But, sometimes the trickiest part to taking the leap on a remodel (or a furnishings and decor project) is knowing just how much it will cost you. Nobody wants to blow through a budget, but most of the time, it’s a challenge understanding what things will cost and how to allocate your money.

That’s where we come in. Here at Sneak Peek Design, we guide you through every step of the process and make the mysteries of home renovations clear and easy to understand. So, in today’s post, we’re diving into the hot topic of cost – because while budgets aren’t as exciting as choosing the perfect sofa, they are absolutely essential to a successful remodel project that doesn’t leave you strapped for cash. Read on for our step-by-step guide to setting your budget – once you’ve got this down, you’ll be well on your way to the space of your Pinterest dreams.

 

Step #1: TAKE INVENTORY & IDENTIFY YOUR DESIGN PURPOSE

Before stepping foot into a design consultation, you’ve got to decide what your design goals are. Take inventory of what you have and determine what you want to keep, add, change, or eliminate. Consider how you use the space – do you need more areas dedicated to function (think built-in storage solutions and kid-friendly mudrooms), or are you looking to simply add a little flair to what you already have (think updated furniture, artwork, or fixtures)? Once you know what you want, then you can start the creative process.

In this walkout lounge area, crisp modern lines pair with a stunning poolside view for the perfect entertaining space.

In this walkout lounge area, crisp modern lines pair with a stunning poolside view for the perfect entertaining space. Design by: Carla Bast, Sneak Peek Design

Step #2: CREATE A WISH LIST

Next up is the step everyone loves – creating a wish list. Whether you’re pulling ideas together on a Pinterest board or making an old school mood board with fabric swatches and magazine cutouts, this part of the process is all about narrowing down your vision. What elements are you drawn to, and which colors or styles do you tend to re-pin again and again? By taking the time to make tangible your ideal design, your designer will be able to customize your project accordingly.

A laundry room is all about function, and in this design, sleek white cabinets, a drying rod, and a spacious farmhouse sink all work together to make laundry day simple and convenient.

A laundry room is all about function, and in this design, sleek white cabinets, a drying rod, and a spacious farmhouse sink all work together to make laundry day simple and convenient. Design by: Carla Bast, Sneak Peek Design

Step #3: BE SPECIFIC & HONEST ABOUT WHAT YOU WANT TO SPEND (AND DON’T FORGET TO FACTOR IN DESIGNER FEES)

Once you’ve identified your design purpose and style components, it’s time to get practical. As hard as it is to talk about money, you need to be specific and honest about what you want to spend. A ballpark estimate simply won’t do; if things aren’t concrete and you haven’t set a hardline spending limit, going over budget is a definite possibility. Don’t worry too much about knowing exact prices for things, though – we’ll help you decide where best to allocate your funds. What is important is having a clear budget so your designer can help you achieve your goals and create a space you love. And don’t forget to factor in your designer’s fees, too, because while hiring a designer is an upfront cost, it does save you money in the long run, helping you avoid those extra charges and fees that can add up without a plan in place.

This kitchen is a welcoming space in this home, and with a large kitchen island anchoring the design, there is plenty of room for guests to gather and for the owners to prepare each meal.

This kitchen is a welcoming space in this home, and with a large kitchen island anchoring the design, there is plenty of room for guests to gather and for the owners to prepare each meal. Design by: Carla Bast, Sneak Peek Design

Step #4: REVISIT YOUR WISH LIST & DETERMINE YOUR PRIORITIES

Got your budget in place? Then the next step is to revisit that wish list to separate your wants and needs. What are your must-haves on your project that you can’t live without? What can you find a less expensive substitution for? Outlining your priorities will help you to stay focused on the larger goal without getting caught up trying to replicate a design down to each precise detail. Remember – your wish list is your inspiration, not the be all end all.

With floor-to-ceiling lake views, natural light, and exposed ceiling beams, this living room is a one-of-a-kind space that doesn’t disappoint.

With floor-to-ceiling lake views, natural light, and exposed ceiling beams, this living room is a one-of-a-kind space that doesn’t disappoint. Design by: Carla Bast, Sneak Peek Design

And there you have it – you’re ready to officially jump into your remodel. When it’s all said and done, you’ll be amazed with the final result (and your wallet will definitely be happier with that budget in place)! So go ahead – get started today and book your consultation with us – we can’t wait to help transform your space.

By Megan Johansson, Contributor to Sneak Peek Design

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Sneak Peek Design

Sneak Peek Design provides a one-of-a-kind virtual interior design process including kitchen + bath remodels, additions, whole home renovations, and new construction.

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