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Budgeting for a Design Project | Week 2 | One Room Challenge

How to Budget for a Design Project + FREE BUDGET TEMPLATE

Budgeting for a Design Project | Week 2 | One Room Challenge

It’s Week 2 of the One Room Challenge and I am rolling right along with the dining room. Have you visited some of the other guests and participants? There are some beautiful designs brewing with tons of talent behind them.

How to Budget for a Design Project from StampinFool.com

If you’re following #oneroomchallenge or #bhgorc on Instagram you can watch all the fun (and mishaps) in real time. Make sure you check the Stories daily for tips and to vote on design choices!

WEEK TWO

This week is all about planning and budgeting. It is really easy to overspend on a project if you don’t have a ballpark price point in mind, don’t keep track of the expenses on purchases and labor, and don’t have a clue what you have spent and what you haven’t. Lucky for you, I am sharing a sample Budget spreadsheet to help your next remodel or design project. It’s a basic template that you can copy and paste into your own spreadsheet and add lines as needed, edit the amounts, and add the dates and notes.

Having a physical budget will not only keep you on track for ordering and scheduling, but it will let you know exactly how much you plan to spend, and how much you’ve actually spent. You can then adjust the plan as needed, i.e. you’ve entered that light fixture & it cost double what you budgeted, so you should reduce another line item to stay within budget.

Grab a copy of the sample budget I’ve made for you- just copy and paste into your favorite spreadsheet program. (I made a google doc for sharing purposes).

Download it here {Design Project BUDGET Template}

HOW MUCH DOES IT COST

The number one question I am asked is, “How much will the project cost?” This answer is based on your design and can vary greatly depending on your personal finances, if you are starting from scratch or you have pieces to work with already.

Because having a budget is vitally important, I am going to give you a ballpark cost. I consider this a mid range price, meaning you can find quality pieces within these price points and if you already own the pieces of furniture or art, you will come in well below this figure.

Why are the prices so high? Everyone tends to go over their budget on furniture costs, so I have chosen realistic prices to give you a little bit of wiggle room. You also want to buy furniture that will last because paying twice for the same thing costs more than doing it right the first time.

I did not include labor costs in this budget. If you have to move electrical, add plumbing, demo walls, pay for painting or wallpaper installation, the cost will go up. I’ve kept it strictly to furniture.

Dining Room Cost

ItemQuantityCost
Table1$1,500
Dining Chairs6$1,200
Chandelier1$1,000
Sideboard1$1,200
Rug1$750
Mirror + Art2+$1,000
Accessories10% of total cost$650
Total$7,300

Are you in shock? I know, it sounds crazy that it’s nearly $10,000 for a dining room plan. But, if you were to add up all of the furniture in your dining room currently, you would probably come in around that price.

The good news is that you now have an idea of how much the cost will be so that you can save/plan accordingly. You don’t have to go out and buy it all at once. Take time to seek out quality piece that will be in style for a long time so you get the most use out of them. Slowly incorporate new pieces to complete your design plan.

*HOW TO SAVE MONEY* If you are on a tight budget, I almost always recommend thrifting versus buying a cheap box store item (the exception is the occasional IKEA item that is well made). You can paint or reframe thrifted furniture and accessories, knowing that the frame is solid wood.

DINING ROOM PROGRESS

Honestly, I haven’t made as much progress as I hoped. Some of the most time consuming parts like installing trim and scheduling a wallpaperer didn’t get done. I’ve made calls and left messages, I’ve ordered some of the product, but mostly, I’ve been accessory shopping.

Budgeting for a Design Project | Week 2 | One Room Challenge

Budgeting for a Design Project | Week 2 | One Room Challenge

I did prep and paint the dining room walls! I sprung for Benjamin Moore Prussian Blue in a semi gloss and it is glorious. Also, caulk covers a multitude of sins haha- I’m looking at you baseboard drips.

I ordered the chair covers and curtains, but after seeing both up close, I may swap them out for a neutral chair cover and a blue tone on tone patterned curtain.

As far as accessories go, I picked up some great thrifted finds, consignment pieces, and shopped around my house for a few other items that will complete the sideboard decor and drinks tray.

  • install chair rail and other trim work around the room.
  • wallpaper the top half of the walls with a fun green pattern.
  • paint the lower half of the walls blue.
  • upholster the end chairs. *I may change the pattern I chose*
  • purchase & hang curtains for added color and a finished look.
  • find a rug, lamps, vases, trays & accessories to tie the room together.

UP NEXT

That’s all for Week 2, but I hope you will check back in next Wednesday for week 3, where I will have an entire post dedicated to Rules for picking the Proper Size & Placement of pieces in a room you are decorating.

See you next week!!

In case you haven’t popped by any of the guests blogs, here they are below:

At Home With Ashley | Casey Keasler | Dorsey Designs | The Farmhouse Project | Home Made by CarmonaHouse of Funk | House of Jade Interiors | House Seven Design | House That Lars Built | Inspired by CharmJana Bek | Jessica Brigham | Kelly Golightly | Murphy Deesign | The Pink Pagoda | Sarah Gunn | Sherry Hart Designs | Sugar & Cloth | Veronica Solomon | Vintage Revivals | Media BH&G | TM by ORC

 

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