Interior Design Budgeting: Statistical Breakdown

It is a shame to build a beautiful house and not decorate it properly. Every home is unique and thus deserves hiring an interior designer who can help design your interiors beautifully. But if you are worried about the costs, here is a complete statistical breakdown of all interior design costs.

How Much Do Interior Designers Charge?

This question bugs every homeowner. But here are your answers:

  • Interior designers charge $50-$200 per hour for their services.

  • The costs of interior designs range from $5-$17 per square foot. However, the actual spending is lesser than that.

  • Interior design costs differ based on the project size, quality of furnishings, and design complexity. 

  • On average, interior designing of one room costs around $2000- $12000. But if you have a 2000 square feet home, it might range between $10000 and $24000. However, these are not fixed costs. You must consult your interior designer for a comprehensive breakdown of costs based on the size of your place.

What Constitutes Interior Designing Cost?

Usually, interior designing costs include furniture, accessories, renovations, and interior designer fees. 

  • On average, people spend 7-10% of their home’s value on interior design expenses. However, you can choose to spend more. It depends on your budget.

  • A 7-10% cost allocation works for mid-range interior design products.

  • For designer-level finishes, 25% of the home’s overall value is an ideal budget.

The segregation of this budget into furniture, accessories, and renovations is shared below: 

Furniture

If you have no problem buying furniture from the flea market, you can lower the furniture expenses. But if you want your entire furniture shipped from the Croft House, it will cost you more. Some interior designers offer the services of purchasing your furniture. Instead of charging you hourly fees, they charge you a fixed percentage of the retail price of the furniture and accessories bought.

Accessories

The cost of accessories depends on what you want in your place. The budget for accessories depends on the quality, brands, number of accessories you need, etc. Some people prefer a minimalist look for their interiors, while others prefer lots of additional stuff. Find out what you wish for in your interiors, and let it decide your budget.

Renovations

The renovation costs $100-$400 per square foot. If you are renovating, here are the interior designing costs of the three most important places in your home, i.e., living room, dining room, and bedroom. These costs are for both mid-range and designer-level interiors.

Living room: Designing a living room is the most expensive as this is what you want to show off the most. The budget depends on the size of the space and your taste. Sofas, rugs, and chairs comprise most of the living room design budget.

If you choose mid-range priced interiors, it will cost you approx. $20000. For designer-level interiors, the cost will rise to $40000.

Dining Room: The dining room design cost varies on size and the extent to which you wish to decorate it. If it’s going to be a simple affair with a table, six chairs, and a chandelier or accent lamp, it is very inexpensive when compared to a huge secluded dining area, complete with rugs, chandeliers, lamps, drapes, etc.

If you go for the mid-range price category, it will cost you around $20000. For the designer-level price category, it will coat approx. $43000. 

Bedroom: This is your den, and you should decide what you want here. However, designing a bedroom is not very expensive.

Choosing a mid-range price category will cost you approx. $18000, while a designer-level interior will cost you approx. $35000 or more.

If you renovate your entire house, the renovation costs will come around $150000-$200000.

Cost-Saving Strategies Every Homeowner Should Know

Here are some cost-saving strategies for interior designers and their impact on design outcomes.

  • Set a budget so you don’t overspend. You will thank yourself later.

  • Plan ahead and make a list of items you need. It will help you avoid purchasing unnecessary items.

  • Repurposes existing items so you don’t shop unnecessarily for things you already have.

  • Hire an interior designer for a consultation to nudge you into the right path. DIY will help you save lots of money.

  • Do your homework, shop around, and learn the prices of items from different vendors so you don’t overpay.

These strategies will help you design your interiors beautifully without overstepping your budget.