How to Budget for Your Space

If you are about to embark on a new design project, the planning phase can often be the most exciting part. While we encourage you to dream big, for most of us the reality is that we are constrained by our budget. Math may not have been your favourite subject in school but taking the time to crunch the numbers and create a concrete plan on how you will spend your money, will help you realize your dreams. Read on for some budget-friendly design and decor tips!

Contrary to popular belief, hiring a designer can be a smart way to save money. Instead of taking on a project all alone, consider starting with a design consultation. A designer can help you with anything from creating detailed floorplans to offering advice on how to pick furniture that will allow you to achieve the space you envisioned, all while remaining within your budget. Designers have experience in looking at a space with a new perspective, finding solutions to design challenges in your home, and will offer a neutral point of view. They will consider every aspect of the design, ensuring that no key-items are left out of the budget.

Melissa putting the final touches on the Tolle Cabinet, designed by LUX decor

A common mistake people make when starting the process is that they see something they love, get excited and in a fit of passion purchase it thinking, “this is a great piece—I’m sure I can make this work”. You may love the item and it may be a beautiful piece, but it might not work well in your home. The sad reality is that planning and purchasing for a space can be a tricky process and it is best to have a well-established plan before making any major investments. You don’t want to spend a large chunk of your budget on a pricey piece only for it not to suit your space, or even worse, not to fit. The first thing a designer will do is take measurements of your room and create a floorplan. Impulse-buying furniture can be just as disappointing as that piece of haute couture hanging in your closet that you will never wear.

Living room, Alice-Carrière Project, designed by LUX decor

When trying to stay within your budget, you need to remember to plan for not only the larger purchases such as sofas, beds, and tables, but to also leave room for the finishing touches that will need to be purchased to decorate your space, such as pillows, artwork, and anything else on your wish-list. These items are often forgotten and only in the final phases of decorating a room do people realize that collectively, they can significantly add to the final cost. Without them, the space will appear unfinished. Additionally, if you are hoping to incorporate some trendier items in your home, we would recommend doing it with smaller ticket items, such as pillows and accessories, items that can be easily updated and replaced when needed.

Kitchen, MacDonald Project – Designed by LUX decor

In every room there will be a few essential pieces of furniture that will undergo heavier use. We often refer to these as “Investment Pieces”. We recommend that you budget more for these items, prioritizing quality, as it will be less expensive in the long run when they endure. Cutting corners and finding these items at a lower price will cost you more in the end, as they will often not wear as well and will eventually need to be replaced. Another great design tip for purchasing high-use items is to go for a more classic style, and to avoid trends that will not last and may create a space that will eventually look dated.

Living Room, Ronceray Project – Designed by LUX decor

While it can be intoxicating to purchase a beautiful new piece for your home, you may already own a few hidden gems. Taking the time to carefully assess the items you already have and consider repurposing or refurbishing them can be a great way to save money. If you need help with this, designers have a keen eye for classic pieces and can not only identify what might be worth re-using, but additionally help to select finishes when re-purposing an older piece of furniture. Reusing can help you remain budget-conscious!

Our final tip would be to remember to take things slowly. It is okay to complete your projects one room at a time if that is all your budget allows. Trying to stretch your budget over several rooms will often leave you dissatisfied with the result and therefore we recommend to do it once, do it properly! Home design is an organic process, and it may be beneficial to take on your design challenges one at a time. Most importantly, allow yourself to enjoy the process.

Bedroom, Alice-Carrière Project, designed by LUX decor

We hope that these design and decor tips have been helpful and that you feel confident in your ability to stick within your budget and achieve the space of your dreams!

So… why now?

So, if you have been hesitating to embark on a renovation project, now may be the time to get started. While supply chains are opening up, it may still take several months from the planning phase to the beginning of construction. Recently we have seen a decrease in renos as people have become discouraged by the high prices and long delays. Taking advantage of this slightly quieter moment will help you get ahead of the curve. What are you waiting for, contact a designer!

Thanks for reading!

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