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How to Budget for Your Space

If you’re 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, budget certainly plays a role. 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!

Starting off strong

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. Not only will they find solutions to design challenges, but will also offer a neutral point of view. They’ll consider every aspect of the design and ensure that all key items fit in the budget.

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

The initial excitement

A common mistake people make when starting the process is that they see something they love and get overly excited. In a fit of passion, they 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 beautiful, but it might not work well in your home. The reality is that planning and purchasing for a space can be a tricky process. It’s best to have a well-established plan before making 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 worse, not 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 never wear.

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

Remember the small-ticket items

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! Only in the final phases of decorating do people realize that collectively, they can significantly add to the final cost. Without them, the space will appear unfinished. Additionally, if you hope to incorporate some trendier items in your home, we recommend doing it with smaller ticket items. These items, such as pillows and accessories, are easily replaceable and updatable.

Interior Decoration - Kitchen
Large bright white open kitchen with a long decorated rug

“Investment Pieces”

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! Avoid trends that will not last and may create a space that will eventually look dated.

Living Room, Ronceray project, Designed by LUX decor

Remaining budget-friendly

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! They can identify what might be worth re-using and help select finishes when re-purposing an older piece of furniture. Reusing can help you remain budget-conscious!

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Bedroom, Alice-Carrière Project, designed by LUX decor

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.

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!

As always, thank you for reading!

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