How Much Should You Budget for Interior Decor in a New Home?

A study by the Environmental Protection Agency (EPA) shows that the average American spends 93% of their life indoors – in their houses or automobiles. With 87% of the total time spent inside the house, you need to invest in your home’s interior decor.

Designing your home space can make it more appealing, enhancing your positivity and quality of life, and even increasing its resale value.

But when it comes to designing your dream home, you should consider your interior decor budget. Fortunately, with the right custom home builder, you’ll be able to renovate your home with your preferred style within your budget limit.

How Much Does the Interior Design of Your New Home Cost?

Here are some factors that determine how much your interior decor costs. 

Project Scope

You should know your interior decor needs before renovating. Whether you want to open your floor plan, repaint your living room, or revamp your kitchen, the size of the task will affect the interior decor budget.

Size of Your Space

The square footage of your home that needs renovating will affect the pricing. Your interior designer will create options for layouts and sourcing pieces for your home. The interior design price will be based on the time spent creating design plans and the decor that fills up your space.

Available Funds

The costs of designing your home will depend on the interior decor budget you and your interior designer create. It helps you know the amount of money allocated to every decor piece and how you need to manage the costs. If you have the skills and are confident enough, you can consider some DIY interior decor projects to save on costs. 

How to Maximize Your Interior Decor Budget

You'll need to manage your interior decor budget carefully and make tough choices to meet your home design needs. Designing your home on a budget isn't about being cheap, it's about being smart.

Here are some smart decisions you can make to maximize your interior decor budget.

1. Create Your Vision Board

When you’ve bought a home, take some time to visualize how you want each room to look and list down the decor you want to fill up your space.

After visualizing, create a vision board that will help you understand what you want to accomplish. You can show your interior designer this board so that they can understand the design style and color schemes you want for your home.  

Additionally, this board will help you get a better idea of decor pricing when making your budget.

2. Know the Interior Design Price Tags

Before you draft an interior decor budget, surf the internet, read catalogs, or hit the stores to familiarize yourself with decor prices. Obtain estimates from different stores and pick a price you’re comfortable with before you finalize your budget.

Don’t forget to look at the price of design services – people to install flooring, paint, or knock down walls – you’ll have to hire out.

3. Determine the Actual Budget

You should analyze your income and see the amount you can spend on your interior decor. When making your interior decor budget, you need to consider materials, labor, and contingency costs.

Material costs include flooring, wall coverings, lighting, window furnishings, furniture, and decorative accessories. Labor costs such as electrical and carpentry services should also be added to your budget.

While you may desire your home designing project to run smoothly, there is a possibility of an upset. This is why you need to budget for contingency costs – shipping, permit, or repair costs – for these unexpected situations.

4. Prioritize Your Purchases

When budgeting, you should know the materials to purchase first. Prioritize buying items that you’ll use every day, or that’ll add value to your home. You can prioritize the purchase of new flooring or a sofa before accessories like mirrors.

Making a priority list of purchases will depend on which rooms need renovating immediately: the living room and the kitchen.

During purchases, remember to focus on the quality of the decor rather than the quantity.

Design Your Home’s Interior with Oberer Homes

Looking for a new home to be your blank slate for your future designs?

Look no further than Oberer Homes. We’re top-rated custom home builders in Dayton, Miami Valley, Bellbrook, Centerville, and surrounding areas in Ohio since 1949. We’ll help you revamp your new home with modern designs without overrunning your interior decor budget. If you’re looking for some inspiration, browse our gallery of move-in-ready homes for ideas on how to transform your home according to your lifestyle.

Contact us today for simple, modern, and affordable home designs.

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