How to Budget for Furnishings

By Terra McNutt

When you’re buying or building a new home, one of the first, most crucial steps in the process is creating a realistic budget. A common mistake is forgetting to set aside an adequate amount of funds for furnishings and décor. Here is our handy guide on how to budget for furnishings.

Every home design project is unique, so costs can vary depending on details like the home size and quality of selections. When decorating a high-end home, a common budgeting rule of thumb is to set aside anywhere from $35-$50 per sq.ft. to completely furnish your space.

Regardless of how you choose to decorate your home, there are some items homeowners often forget to budget for. As you create your furnishing budget, don’t forget the following:

• Soft furnishings like pillows and draperies

• Artwork

• Shipping or delivery costs

• Hallways and entry spaces

• Interior design fees

It’s important to note that while every interior design firm charges a fee for their services, hiring an interior designer is a cost-saving measure in many ways. As design experts, we help our clients avoid costly mistakes and we will sit down with our clients in the first phase of their project to develop realistic budgets for each area in their home so that in the end there are no surprises.

If you’re looking for an interior designer to help guide you on how to budget for furnishing in your home, RI Studio would love to help. Our award-winning design team has extensive experience managing design-build projects and selecting furnishings for our clients’ homes. Contact us to learn more.