Revamping a house is an exciting and daunting task. Depending on the scale, design, and budget, you can choose from a wide spectrum of home remodelling projects. A revamp could be improving an outdated structure to make it more functional. Or updating the furniture in an older house to make it more modern. Or a full scale renovation of your home. Either way, there are a lot of decisions you face while considering a home renovation. The primary one being: How much should I spend?
Creating a workable budget is an important part of ensuring a smooth revamp process. This requires plenty of time and research. Luckily, Nitido Design has done that for you!
Nitido Design is one of the top luxury home designers in the country. Our team has been at the helm of many beautiful remodels and renovations. We have compiled our experience and expertise into an exclusive guide on how to decide a budget for a luxury home revamp. Read to the end for our favourite trends in luxury interior design renovations!
Easy Guide To Revamp Your Home On A Budget
Begin with a clear idea of what you want
The first step to setting a budget is to evaluate your needs. Spend some time to think about the broader goals and themes of your home renovations. The details can come in later.
Ask yourself: What is it about your home that you are looking to transform? Is it more of a functional revamp or are there aesthetic elements you would like to change? Do you need to create more space or freshen up the style of your house? Are there any specific rooms that you want remodelled?
Taking some time to do this necessary introspection will help you to envision the revamp of your house. Renovations include a substantial amount of expenses. Having a clear plan from the get go will make sure that you get the most out of your time, effort, and money.
Prioritize your Renovation Ideas
Once you have the big picture in your mind, begin to narrow down your renovation ideas. Start thinking about specific projects and elements that you want to see in your house. You could need a few major things changed in your renovation. Or you could be brimming with ideas and not know where to begin.
Do you want to change the kitchen cabinets? Are there broken light fixtures that need fixing? Does a certain room need a fresh paint job or a wallpaper upgrade?
Ranking ideas will be helpful. The top priority revamp ideas are the must-haves. These are aimed at improving your quality of life. For instance, fixing the most used spaces in the house, adding more closet space, or fixing old floors. Then move down to the less important revamp ideas – the nice to haves. These could be inserting a decorative lattice, building a bathtub, or constructing a new patio.
As you narrow down these ideas, you will be able to see more what your house needs and what you need from it. Renovations made to an older home tend to cost more than a newer one, especially if the wiring, plumbing and other features aren’t up to code. But these might also be the more important revamp projects. Prioritize projects by space and build a budget around the cost of each individual renovation idea. This makes the renovation more affordable and manageable.
Research Materials and Design Elements
Carry out your own research on different materials and design elements. Familiarize yourself with what is available on the market and its costs. This will give you a better idea of what you would like to use and whether it fits your budget.
On the functional end, research solar panels, LED lighting, and star-rated appliances. Investing in long-lasting, energy efficient tools will save you money in the long run while being good for the environment!
On the aesthetic side, gather images and projects that inspire you. Looking at different photographs, ask yourself what you like in it and what you don’t. This will help you cultivate an eye for design and think more critically about your own home’s remodel. The more you see, the easier it will be to make decisions as you move along. Your own mood board will also give you a solid database to use and compare against your selections. Read more about renovating your home here.
Coming to the actual budget, there are some general guidelines you can follow. First, you don’t want to spend more than 10 -15% of your home’s value on a single room. If you spend more, the value of the renovation will not proportionally add to the value of your home. Second, set aside 10-20% of your available funds for unforeseen expenses. It is possible that your revamp costs more than you anticipated. Sometimes material costs go up or there is unexpected damage. By keeping a rainy day fund, you can be well prepared for any surprise expenses.
Third, bring in a professional luxury home designer. We recommend this because there are a lot of details to consider in a home renovation. From labour to fixtures, finishes, and flooring to the little things like paint brushes, tape, sandpaper, and drop cloths. It can be hard to keep detail in mind, especially if you have not done this before. Consult with a luxury interior designer so they can help you create an accurate realistic budget. One which meets your needs and priorities. They are trained to carry out investigative work early on in the project. This will also help reduce the amount of unforeseen work.
Pick the Right Partner
Choosing the right interior designer to renovate your luxury home is crucial to having a relaxed remodel. Research design firms, check out their earlier projects, and meet with different home designers. See if their design process and philosophy resonates with you. This will help you in many ways. Firstly, an interior designer will be able to help you create a budget that works for you. They can ensure that all products, materials, and services you use are within budget.
Secondly, an interior designer can help you avoid costly mistakes. Did you ever buy something that looked really good in the store? But it did not live up to the mark when you brought it home? This can happen with furniture, decor items, lighting fixtures, and even paints. Interior designers can save you money by getting things right the first time.
Picking the right partner in your revamp journey will save you time, effort, and money. Learn more about how luxury interior designers can help you build your dream home here.
Ideas for a House Revamp
While you are deciding your budget, get inspired by our favourite trends in home renovations.
A popular need of our clients is to make living rooms more spacious. We like to do that by decluttering, letting in more light, and using vertical space. Designing sunken areas for living room furniture is another of our top revamp illusions. A sunken area space makes the space look much larger than it actually is.
Our go to designs for kitchen remodels are changing up the materials of the kitchen cabinets and counters. Switching granite counter tops for marble, adding a copper finish on old door handles, and painting cabinets are great ways to make a kitchen more functional and classy. If the space permits, we also like building kitchen islands as that gives you more counter space, additional storage area, and extra seating options. You can also turn it into a mini bar for special occasions!
In bedrooms, we like creating visual depth with open shelving. Here you can display your antiques, souvenirs, photos, and more. This adds character and contrast into the space, breaking the monotony nicely. You can also decorate these shelves with baskets, books or any other home accessory. We also like changing up the bed frame to create a fresh look.
If your home has a garden, balcony, or just some extra unused outdoor space – utilize it! There are so many fun options for revamping an outdoor space. We love building a deck and placing some elegant patio furniture on it. Or carrying out some urban landscaping, planting hedges, and putting up trellises with flowering vines.
Learn more about our Interior Design Services
There are many factors to keep in mind while deciding a budget. From the type of renovating needed to the cost of materials. We hope this was a useful introduction to budgeting for a luxury home revamping.
But there is always more to share!
Nitido Design offers renovation and interior design services to help you craft a better home. We use a combination of human and technology factors to give you the best house revamp. Our talented interior designers work closely with you to get a clear idea of what you want and help you budget accordingly. They also use advanced technology and home remodeling software to create realistic 3D visualizations of their designs.
Reach out to us today to learn more about our unique process of home renovation and our many interior design services! We would love to hear from you and help you in any way we can!