When making your budget to buy a home, you should think about the cost of furnishing that home. Whether you plan on decorating it all at once or over time, the size and style of the home will impact the decorating budget. The general rule of thumb when it comes to a budget is that you will spend 25% of the total cost of the home to decorate. This means, a mid-range living room will cost roughly $10,000 (hopefully that includes a big flat screen TV!).
Obviously, there are ways you can increase or decrease your budget. If you buy everything from a high-end furniture store, you will certainly spend at least 25% of your home’s value, but if you go to a store like Ikea that cost will likely go down – you may just be adding the stress of having to put everything together! The biggest suggestion we can give you when it comes to decorating is that you should live in your new home for a few months before deciding on major furniture pieces, because once you have been in a house for a while your ideas might totally change.
A few other ways to help you save money on your decorating budget include giving old furniture a facelift with new paint, fabric, accessories; building it yourself such as coffee tables, end tables, liquor cabinets; and splurging on one big bold piece of furniture in a room and accenting it with “cheaper” items.
The decorating trends for 2020 are not about flashy, over-the-top design; but rather, about decorating for real life. Homeowners and decorators will be trying to tell a story through their decorating, with pieces that put a personal stamp on their spaces. People are stylizing the most-used room in the home—the kitchen—by adding workstations, artwork, photography and more furniture-like cabinetry enhanced by decorative cabinet knobs and pulls.
In a recent survey, people looking to buy a home listed the following as the most important rooms to decorate.
- Kitchen – 90% of respondents
- Master Bedroom – 79% of respondents
- Family Room – 34% of respondents
- Garage – 31% of respondents
- Living Room – 26% of respondents
- Basement – 26% of respondents
At the end of the day, decorate to your liking and for what will make you most comfortable!