How to Make a Thoughtful Home Furnishings Investment
Forecasting a home furnishing investment is overwhelming. You may know your tolerance level for individual item costs, but knowing how all the pieces come together from a financial standpoint is challenging. So, where should you splurge or save? How do you know your estimate is accurate?
We are skilled in developing a thoughtful investment plan with our step-by-step process to help you discover home. Keep reading for tips to make informed decisions on furnishing investments…
Where to Invest Your Money Wisely
Invest more in pieces that are in high-traffic areas. For example, in the living room, you and your family connect, play games, or watch TV; everyone is on the sectional or sofa. It is the most used furniture in the room, so it makes sense to allocate a significant portion of the budget to an heirloom, bench-made piece that will withstand decades of wear.
How to Begin Planning for the Project
Where do you start planning your investment? If you’re building a new home, renovating or furnishing rooms in your current home, you’ll need to allocate funds to furnish your new space. However, you’ll only achieve an accurate budget and cost after having a defined scope. Therefore, you want to ensure everything has been designed, selected, and priced accurately.
A $100,000 furnishing cost translates to a total cost of approximately $170,000+ once all of the items listed are accounted for. This is often the most significant oversight by homeowners in the planning process.
Many components make up your design and furnishings budget:
Furnishing costs
Freight and Shipping Costs
Taxes
Warehousing and White Glove Installation Costs
Associated Design and Project Management Fees (when working with a design firm)
How to Stretch Your Investment
But as your guide, it’s my job to see how far your investment will stretch. I always advise clients to furnish fewer rooms properly than furnish more rooms with a stretched budget. This is because you won’t achieve the desired look, function, or aesthetic you hired a designer for in the beginning.
We are a full-service design firm, and helping you plan, phase, and allocate your investment is a top priority to ensure that your aesthetic, scope, quality of products, and workmanship are achieved.
Let's chat if you’re ready to discover home and create a place where memories are made.
Warmly,
Justine