Where to Invest vs. When to Conserve
Whether you’re renovating a space from top to bottom, building new, or simply just updating your space from floor to ceiling, your best design budget is a balanced design budget. Here’s what that means….
Even though every design detail is important, not all design details need to be weighted equally. Some pieces are worth a high investment; others are not. Some pieces may have drastic differences between quality levels. For example, your sofa may be an investment but the pillow you place on it may be something you picked up at Target. You’ve probably already seen these differences in action in other aspects of your life. Your wardrobe, for instance, might contain a mix of moderately-priced (Shirts, Casual Wear, Sweaters, etc..) and high-end pieces (Dress, Coats, Shoes, Purses, etc..).
So when it comes to your home, what is the right mix? Which are your investment pieces and where could you conserve a bit more? Here are my top three “rules of thumb” that I have discussed with customers to help guide them on where to invest and when to conserve
KNOW YOUR PRIORITIES
Budgeting is personal, and different for everybody. Following your interests and priorities will help you make those important decisions. This is also why I spend a great deal of time in the beginning of your project discussing your goals, lifestyle, and what’s most important to you and your family!
BUDGET EARLY AND OFTEN
Smart budgeting is never an accident. It takes constant refinement. That’s why I discuss your budget during our design consultation, refine it, and polish it again when outlining the scope of work so we can work as a team. No surprises!
INVEST IN EXPERTISE
Hiring professionals is the best investment you can make in your entire project. In my many years in the field, I have seen many instances where low-quality work or inexperience resulted in costs that exceeded what it would have taken to hire an expert in the first place. There’s a reason why the saying “trust the experts” has been around for years.
Where to Invest
STRUCTURAL: The value of a home lies largely in its physical structure, which is why this is not the place to scrimp. Making changes down the road, especially after construction starts, can be extremely costly. Instead, work with an interior designer (and trusted contractor) to build flow, functionality, and style right into the original design plans.
LIGHTING: In many of my designs, statement lighting helps carry the overall style and feel of the room. There’s nothing quite like a head-turning fixture to create a particular vibe or add grandeur to an entryway, great room, or kitchen. Worth the splurge!
FURNITURE: I always recommend investing in quality upholstered seating for your home, especially for those pieces you plan to use every day. Investing in sofas and chairs that are well-constructed, durable, and comfortable will result in them staying around for the long haul. (Note: It is very rare to find this level of quality in ready made, big box retail pieces. As a standard practice, I always source from to-the-trade vendors who prioritize quality, comfort and style.)
FAUX TREES AND PLANTS: If your residence is a part-time vacation home (or you don’t have a green thumb), faux plants are your new best friend! Cheap, fake plants are easy to spot and will drag down your whole aesthetic. Invest in realistic looking greenery, and you’ll reap the benefits in every season!
Where to Conserve
APPLIANCES: With such a wide range of options available, high-end appliances aren’t always necessary. If you’re looking to conserve, this is a good place to do it. I often offer recommendations to my clients and let them select and purchase appliances on their own.
TILE: Whether it’s backsplash in the kitchen, shower walls, or your entryway floor, beautiful tile is a great area to conserve. Yes, it does play an important role in your design, but there are plenty of cost-effective options that will still look just as stunning when installed. That being said, let the experts help you when choosing the tile (an Interior Designer wink, wink)
HARDWARE: Splurging on knobs and pulls throughout an entire house can add up quickly, and it isn’t always necessary. Like tile, there are so many options available that it’s possible to get a high-end look for less. Again, trust your designer to help you pick it to ensure the overall aesthetic is still there!
AREA RUGS: Yep, you can conserve here, too. There are many high-end area rugs out there, but it’s also easy to find a great area rug at a reasonable price. Sure, it may be machine-made rather than hand-knotted, but it will still give you the look and durability you need.
WALLCOVERINGS: Wallcoverings are another element we recommend saving on, as many wallpapers can look high-end even if they aren’t high-cost. Using a practiced eye, professional installation, and a beautiful composition with the other elements in the room, I can create an elevated look without the splurge.
ART: Yes, I love original art and think it belongs in every home (I make my own!), but saving on prints, especially for a gallery wall, can go a long way in conserving the budget without compromising on the design! In most of my clients’ homes, I mix moderately priced pieces with a few standout originals to create an art collection you’ll love.