Why You Should Be Honest with Your Designer About Your Budget
Ah, the budget. No matter if you’re renovating or building a new home, the subject of money always seems to be a sensitive one.
In many ways we get it. Discussing your finances with anyone can cause stress and anxiety. But, one thing to keep in mind when you’re talking dollars with your designer or contractor is that we are just like you, and we’ve had these same conversations with our designers and contractors on our own home projects. Not only are project budgets essential to determining our scope of work, but they’re also something every homeowner has to address at some point, including us home construction pros!
Why You Need to Share Your Entire Budget with Your Designer
Maybe you’re hesitant to share your true budget with your designer because you don’t want them to “take all of it.” But one of the most important tasks designers take on is to make the most out of your budget while making your vision a reality. They know where to splurge and when to save. Sharing your true budget with your designer ensures that your budget will go the furthest to bring your project to life.
Another reason to share your budget with your designer is to keep from blowing your budget altogether. Your designer knows the true cost of each individual project and can be realistic with you about what you can afford and what you need more money to achieve. If you don’t tell them the truth about your budget, they will move forward with creating the projects you’ve requested--regardless of if you can actually afford them.
Designers Leverage Their Trade Relationships to Make the Most of Your Budget
Think you’ll save money by purchasing certain items like furniture and appliances yourself? Eh. it’s rare that actually works out in the client’s favor. Designers have longstanding relationships with vendors that they often leverage to get their clients the best deal on big-ticket items. Plus, all of your items will come from one or two vendors rather than several. This will keep logistics flowing smoothly which will help your project stay within budget and the allotted project time.
You Can Still Plan a Contingency Budget
The true budget you share with your designer should exclude about ten to fifteen percent of your total budget. This is your contingency budget, for those unexpected hiccups that come with every project. And we do mean every project. You will have a hiccup, maybe two. Be prepared for it. If by chance your project goes off without a hitch, you’ll have a little wiggle room at the end.
Sharing Your Budget Builds Trust with Your Designer
Your designer is with you from beginning to end. You want the relationship between you and your designer to be trusted by both of you. Start by trusting them with your budget and they’ll return the favor by being honest with you about the realities of your project.