One of the most rewarding parts of being an interior designer is seeing the face of a homeowner light up when they furnish, decorate and style their home the way they have always dreamed of. While it is exciting, many people tend to underestimate the cost and time the process can take, as well as the reality that couples have different expectations regarding budget, and there is the possibility of making costly mistakes.
The question to ask before making major decisions is, “How much should I budget to furnish my home?”
Although there is no cookie-cutter solution, the answer depends on a number of factors: The size of your home, your decorating style, personal lifestyle and timeline.
Furnishing from scratch
If you have purchased a newly constructed home, gutted and did a full renovation of your current home, or bought a fixer-upper, you may be faced with furnishing and decorating almost every room in the house. Instead of considering only one space, you would be faced with finding furniture, accent pieces, rugs, window coverings, wall decor, lighting and accessories for many rooms.
The following is a guideline of what you can expect to spend, from low to high, although the final tally will depend on the size of the rooms and where you shop. (The numbers quoted were provided by CF Interiors.)
Living room
$8,450 (low), $21,900 (medium), $48,300 (high).
This includes: A sofa, accent/end table, accent chair, media unit, area rug, wall decor and accessories (pillows, throw, decor, floor lamp, and plants).
Dining room
$6,500 (low), $15,000 (medium), $27,000 (high).
This includes: A dining table, four chairs, a buffet/credenza, wall decor and ceiling lamp.
Primary bedroom
$5,500 (low), $14,450 (medium), $32,200 (high).
This includes: A bedframe and mattress for a queen bed, bedding, two nightstands, a dresser, lamps, area rug and accessories.
Kitchen
$2,600 (low), $5,500 (medium), $12,000 (high).
This includes: Up to four barstools and three pendant lights.
Added up, the cost to furnish these four key areas falls between $25,000 (low), $55,000 (medium) and $100,000+ (high).
Other rooms to consider:
Home entrance
$1,000-$5,000
The entrance to your home should be functional and a reflection of your style. Depending on the layout of your space, consider a console table, a bench, wall decor and decorative objects.
Secondary bedroom
$2,000-$10,000
If a child’s bedroom or guest bedroom is part of the plan, you will need at least a single bedframe and mattress with its bedding, nightstand, lamp, dresser and accessories.
Home office
$3,000-$10,000
Whether you have a dedicated office or a small workspace to catch-up with projects, having a functional work area with a desk, an ergonomic chair, storage and good lighting is key.
Outdoor living
$3,000–$10,000
You are going to want to take advantage of those summer days, so don’t forget to allocate a budget for an outdoor living room and/or dining room set as well.
Window coverings
One to two percent of the cost of your home for quality automated custom window treatments (provided by Coverup Blinds & Shades).
As mentioned, these numbers will vary based on your personal preferences, physical space, style and how high-end you want to go. Your timeline is also important. Some homeowners may want to enjoy a fully furnished home from day one, while others will opt to do it in stages.
The save or splurge debate
As a general rule, I recommend spending more on the pieces that will be used on a daily basis, such as the sofa, dining chairs, kitchen stools and mattresses. Good quality will go a long way, and you will be happy you spent your money well.
On the other hand, there are smart ways to save on accent furniture and decorative objects (artwork, pillows, throws, vases, books and so on), which will add your personality, colour and style without breaking the bank. These items can also be updated over time, especially when the bigger, more predominant pieces have been well selected.
Final thoughts
Furnishing and decorating should be a joyful process, not a stressful one. It just takes planning and that includes four key elements: The space, your decorating style, your budget and your lifestyle. Missing one of these four is like cutting a leg off a table and expecting it to work just as well. If the whole idea seems daunting, start with the room or rooms that will make the most impact on your daily living. And finally, don’t forget to accessorize. Decorative objects do not cost much and will add the final touch to transform an empty space into a place you’re proud to come home to.