Investing 101: Where to Save vs. Splurge on Home Furnishings

Have you started furniture shopping for your newly remodeled home? I bet your wish list filled up quickly, and now you're suffering from sticker shock when you see how fast you’ve spent your investment.

With the inflation of building materials, furniture prices are suffering the same increases, so you will need to consider investing strategically in furniture to furnish your desired area completely. Here’s how…

1. Invest Your Money Thoughtfully

High-traffic areas need furniture that is well made. Things like mattresses for the people living in the house are where you should pay for quality and durability. Save your pennies on guest room mattresses. 

Does your family curl up on the couch every night for movies and popcorn? Then spend the money on that sofa or sectional that will be used daily. Save on the accent chairs that round out the room décor but don't get used frequently. Spend the money on a durable rug with high traffic, but save on the rug under the new guest bed you just purchased.

2. Strategically Save

For things like fixtures and finishes, I like to mix high and low to keep the project within budget. For example, in a kitchen that has a small area that requires a backsplash, I won’t worry about the tile price tag since it's such a small section. But if there is a large backsplash wall, I will keep the tile options to under $20/sq ft. 

Quartz countertops are an excellent investment for a reasonable price and for durability instead of investing more in marble or granite. See a video on my thoughts on countertops. It's a delicate balance of mixing high and low items to stick to a realistic remodeling and furnishing budget.

3. Plan Your Project First

Spend the time and money to design your whole area first. Create a list of everything you may need, down to the wall paint, bookshelf accessories, and even silverware. This will give you an accurate budget before you even begin. 

And after you have listed everything you may need, you can start strategically replacing expensive items with affordable items.

Hiring an interior designer can save you thousands of dollars on a renovation budget. In addition, they can help you decide on where to spend and where to save.

Have some questions about developing a thoughtful budget for your design project? Give us a call...we'd love to help you out!

Cheers,

Angie