Step #1: Decide What You Want to Spend<\/h2>\n
There are a few questions you need to answer before getting to the creating a budget.<\/p>\n
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- Are you good at sticking to a budget? If not, how will you finance overspending?<\/li>\n
- Does your project require hiring a contractor, plumber, electrician, etc?<\/li>\n
- Are you good at working within a budget?<\/li>\n
- Can you accept something less than your heart\u2019s desire to stay within budget?<\/li>\n
- Are you good at setting deadlines and following through?<\/li>\n
- Are you a good bargain hunter?<\/li>\n
- Do you have DIY skills?<\/li>\n<\/ul>\n<\/div>\n\n
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\nSet the Budget<\/h3>\n
This stage requires you to be realistic in what you can expect out of your design project.<\/p>\n
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- How much money do you need for this project?<\/li>\n
- Will you be using disposable income, a bank loan, or credit cards?<\/li>\n
- Avoid tapping into a savings account unless you\u2019ve saved specifically for this project.<\/li>\n
- Overspending happens on any project. You need to figure in between 10 percent and 20 percent for budget busters.<\/li>\n
- How will you decide what is worth overspending?<\/li>\n
- What will be your cushion amount, and how will you finance overspending?<\/li>\n
- What is the realistic amount of money you can spend on your project?<\/li>\n<\/ul>\n<\/div>\n\n
Step #2: Create Your Wish List<\/h2>\n
This step involves writing down everything you want to include in your project, regardless the price. This is the only time you should ignore your budget limitations.<\/p>\n<\/div>\n
\nWish Board and Project Notebook<\/h3>\n
Now is the time to create a wish board and project notebook. If you have\u00a0samples, photos, and notes about items you want to include, create a wish board along with a ringed notebook so you can break your project down into stages with a checklist.<\/p>\n<\/div>\n
\nStep #3: Research Your Project<\/h2>\n
This stage is vital to your success in finding the items you want and staying within your budget.<\/p>\n
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- List items:<\/strong>\u00a0This list includes everything you wish to include in your project. Break these down into categories, such as lighting, accessories, furniture, fabrics, etc.<\/li>\n
- Price items:<\/strong>\u00a0You\u2019ll need to shop price for each item to find the best price.<\/li>\n
- Contractor bids:<\/strong>\u00a0Contact the contractors needed for your project and gather bids to evaluate and select.<\/li>\n
- Calculate costs:<\/strong>\u00a0Once you have all the items sourced and priced, it\u2019s time to add up the costs.<\/li>\n
- Sticker shock:<\/strong>\u00a0The reality of what you want and what you can afford often conflict with what you need, such as construction requirements.<\/li>\n<\/ul>\n<\/div>\n
- Price items:<\/strong>\u00a0You\u2019ll need to shop price for each item to find the best price.<\/li>\n
- List items:<\/strong>\u00a0This list includes everything you wish to include in your project. Break these down into categories, such as lighting, accessories, furniture, fabrics, etc.<\/li>\n
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