4 Ways to Balance Budget and Luxury
Filed under Budgeting
Even the wealthiest client wants to be sure you’re a good steward of their money! And we want to deliver gorgeous interiors that are on time and on budget, but sometimes we have to juggle that budget a bit to squeeze out every dollar. Am I right?! I have 4 fail-safe ways to help my clients balance the luxury looks I want to deliver with the money they have to work with:
1. Decide which rooms will be used the most.
There’s no point in spending a huge amount of money in a $10,000 dining table if no one will ever sit in that room. That money could be better spent in the family room where everyone will hang out. Or in the kitchen if your client is a gourmand (or, as I like to say, a Chef Boyardee!). Understand exactly how they will live in their home to decide which rooms will get more of the budget.
2. Remember what gets the most use.
In most people’s homes, the same things get the most use or wear: upholstery, rugs, countertops, etc. So be sure you’re investing wisely in those pieces and less on the bells and whistles.
3. Know your client’s top pain points.
What were the things your client initially told you she wanted to solve in her home? If she wants a bigger bathroom, then you know a good part of the budget will go into construction. If she said the thing she wants most is a family room that her teens will want to gather in, then you’ve got to put your money into things they’ll love. Your goal is to solve her problems while still giving her a gorgeous space!
4. Ask her how she cooks.
Sounds strange, right?! But you know the kitchen can really suck up a lot of the budget, so you have to understand what’s most important to your client in this room. If she loves to cook, then the range and counters are going to be splurge items. If she mostly entertains, then she may want a fabulous fridge and a wine cooler. Asking questions like that before you start will really help zero in on where to save and where to spend!
It really is a balancing act and can be frustrating if you don’t address it up front before you begin the project! Download my FREE 10 Tips to Help You Stay on Budget for even more ideas!