Budgeting for Your Home Improvements by Joy Ofili-Yebovi

It is important not to confuse the word “budget” with “savings”. While savings is the money you are willing to set aside, budget is the amount you are happy to spend to redesign your home, giving it a better look. However, it is important that you have a clear idea of how much you are willing to spend before approaching your designer. Remember added-value home improvements designed and supervised by a professional come with a price tag. This simply means, you are going to be paying your designer for his or her expertise, which is the ability to source for reasonable suppliers of furniture, fabrics and accessories; and the time he or she will save you from having to organize and supervise builders, painters, joiners, plumbers and etcetera.

Once you have decided the sum you wish to invest in home improvements, it often helps to check the feasibility of that budget by allocating portions of it to different areas of what you need to be done. For a simple living room refurbishment, you might allocate the budget into seven areas, which include floor covering, wall covering, curtains, furniture, light fittings, accessories and designer’s fee.

Here is a useful tip, allocate the budget to different areas in terms of percentages rather than cash. We all think money is still worth what it used to be worth in the “good old days”; it is not. Even the rich complain about the price of butter. So, by allocating percentages to your project, you are better able to see what you can afford and willing to spend on each area of the redecoration. If you want to have an elaborate curtain treatment, you may have to reduce your budget for the floor covering, or vice versa. This method will also help you to prioritize your decoration requirements. By being honest with your interior designer about your design priorities and your budget, you are more likely to receive a design and service that will surprise and delight you. Trust me, you will.

Joy Ofili-Yebovi is a furnishing and design expert. She is the founder and managing director of Simplinteriors and Décor, one of the leading office and home furnishing company in Nigeria. If you need assistance with furnishing or redesigning your home and office, then call Joy Ofili-Yebovi on +234 803 201 7258 or email:info@simplinteriors.com. You can also visit the company’s website: www.simplinteriors.com.