I love designing living rooms because they are one of the most versatile rooms in a home. On some days, they are the perfect place to entertain; on other days, you can simply relax and unwind after a long workday. Despite your ultimate goal, remodeling your living room is an investment I recommend to every homeowner. However, a crucial step is setting up a realistic budget and ensuring you cover every detail. So, if you’re thinking about remodeling your living room, keep reading because I’ve compiled the ultimate guide to come up with an estimate for your remodel project. 

But before getting into all the details, download my FREE Guide to help you budget your design to start your project on the right foot.

#1. Focus On The Scope Of Your Project

Depending on the size of your project, the first tip is to nail down your design goal and vision. Think about your wants and needs, and go from there.

A great way to come up with an accurate estimate is through a Design Consultation. That way, we get to know your space and provide you with a design plan for your project’s scope. The consultation is the first step to our Full-Service Design Project, in which we handle the design, order placement, project management, installation, and styling so our clients can enjoy a unique experience.

Another exercise is writing down your wants vs. your needs. So, for example, if you’ve decided to include custom furniture as a part of your project, I recommend starting with a base of $25,000 for one room, not including design fees, freight, or taxes.

If your project involves construction or demolition, you should increase that number by at least another $20,000. It all depends on your project's focus and your goal.

#2. Estimate The Cost Of Each Element In Your Living Room

If you’re wondering where to start with your budget, here’s a quick exercise: look around your living room and write down an estimate of the cost to purchase all new items as if you were designing the room from scratch. If you need a simpler method to calculate the total expenses for furnishing the main rooms in your house – such as the family room, primary bedroom, dining room, home office, and kitchen/breakfast area – don't forget to download our Furniture Investment Guide by clicking here.

For every item, it’s also important to consider:

• Sales tax.
• Shipping and delivery.
• Installation costs.

Do this exercise, and you will be surprised about the total investment and every detail you need to know to contemplate a living room remodel. So, if you’re ready to make the jump and get the right help, book a call with us to get started today.

#3. Determine What Should And Shouldn’t Be Replaced

It might surprise you that only some pieces in your living room require replacement. Sometimes, we can work with some aspects of your room or take them as an inspiration to design a whole room. For example, in our Cozy Family Sanctuary Project, we used the living room's existing elements to create a kid- and pet-friendly room, including durable furnishings with performance fabrics and custom window treatments and accessories that reminded this family of the coast.

Determining what you should and shouldn’t replace in a living room is one of the things that makes setting a realistic budget challenging and one area where you could get the most out of hiring an Interior Designer. Our main goal is to help you maximize your monetary investment and guide you in what will work best for your space.

#4. Understand the Possibilities and Constraints of Your Space

It’s also essential to understand how much room you have to work with and the impact on the electrical or plumbing elements. 

In addition, ask yourself the following questions to nail down your living room design project:

• Does your project require skilled trades, such as carpentry, paint, wallpaper, electricians, plumbers, etc.?

• What is the total square footage of the space? Is it so large that it’s two spaces within one? Or, is the room's shape unique, requiring custom-cut rugs and custom-made furniture?

• Is there anything you’d like to keep, or are you replacing everything? 

• Is this a forever home, or will you move in a few years?

• What types of materials are appropriate for your lifestyle?  Are you leaning towards family-friendly with high durability? Or high-end, luxury materials that feel and look opulent? 

• How much assistance do you need through the implementation of your project? 

• Do you want to manage the scheduling of every person involved in your project, or would you prefer someone else to handle it?

• Are you quick to make decisions, or do you need time to think things through? 

These and other questions will help you set a clear budget for the success of your interior design project, regardless if your budget is $25,000 or $500,000. 

As you can see, defining a budget upfront is essential to ensure your project meets your expectations. No matter your ultimate goal, we can assist you in determining a budget that suits your needs and aligns with your vision, so book a call with us here to get started with your project. 

Pin this article as your remodeling inspiration project and share it with your friends and family who are considering sprucing up their home this year.