People who are not around home furnishings everyday typically have very little insight on how much of an investment it is. I am not talking about those Ikea, Craiglist and the Estate Sale finds out there. We all know that with time and plenty of patience you can redecorate your home on a dime. I am talking about the pieces that come straight from the higher quality manufacturers, you know the pieces (sometimes custom) that make you drool when you see them in your favorite home/lifestyle publication.
Not to get all Saturday morning in the 80’s on you but, I also am a firm believer that knowledge is POWER! So I am giving you a little more power today by shedding some light on this other wise secretive subject.
Here are some facts that I can spew:
#1. The average cost of a sofa is: $3500.00
#2. The average cost of an armchair $1500.00
#3. Want quality new bedding? Expect (on average) to pay no less than $600.00
#4 A stylish Mid-range bed frame will cost approximately $1750
#5 Considering repainting your living room? Expect to pay a pro $600 or $150 if you are a DIYer.
I know what you are thinking… “I would not dare to spend that much on furniture!” My sassy response leads me to fact #6..
The average cost of a wedding in the United States is $25,200!
Yep. For a party that last for about 5 hours (give or take) you are spending some major duckets! I don’t get it…most people gawk at investing in themselves and where they live however, don’t bat an eyelash at shelling out 25 g’s on a wedding!
I am sorry I went on a rant. My point is that investing on furnishings that will last through the years makes more sense than investing in particle board prices that will crumble as soon as you throw that Allen Wrench away.
There are things that make the cost of furniture what it is. It’s called Options: and there are tons. Custom leg, sizing, and upholstery upgrades. My take on it is to design the exact piece that you want, and that is perfect for your tastes and lifestyle. If a stocked furniture piece suits you, even better!
Now to what I am giving you:
I came across a simple excel spreadsheet some years back that a fellow designer, Cindy Schlesinger, shared with one of my networking groups. The purpose of the sheet was to make talking about furniture budgets more comfortable when educating homeowners. It proved to be an AMAZING resource. Well after much wear and tear I made my own version of it.
Again, I am sharing it with you all too give you, the average homeowner; POWER.
One additional nugget of information:
#7 Allocate 18 – 20% of your budget to tax, labor, and shipping costs.
I bring this up because this budgeting item often feels like a waste of money. And it is a hard pill to swallow. There are resources out there that will offer “free” shipping. But being a designer and having access to the wholesale prices, I find that the shipping and freight charges are more than added in there.
Without Further adieu here is the spreadsheet:
Your Interior Designer,