Design & Style, Home & Lifestyle

Maximizing Your Design Budget

Corey Damen Jenkins

Lesson time 07:13 min

It’s time to break out the floor plans as Corey and his senior designer Heather take you behind the curtain into their process of arranging furniture and fabrics—first on the workspace table and then in an interactive photoshop demonstration.

Students give MasterClass an average rating of 4.7 out of 5 stars

Topics include: Budget Breakdown · Staying on Budget · Which Pieces to Splurge On

Preview

[MUSIC PLAYING] - So what I want to talk about right now is probably one of the most difficult and sometimes offensive and super-sensitive words in the interior design decoration vocabulary. It's the B word, which is also known as the budget. People get very antsy about discussing the B word. Budget hits everybody in different places, in different ways. I always tell clients, listen, I really don't care how much money you got. I just want to know how much gas is in the tank for my portion of this project so I can get us from point A to point B. The one thing that everyone has in common, everybody has a budget. Realistically, a person should set aside between 7% and 10% of that budget for design and decoration. If the house is worth $300,000, at a minimum, you should be setting aside $30,000 for decorating the home. Your largest expense is probably going to be furniture in the space, depending upon how many pieces you're going to need. So I would account for probably 40% of your budget to be furnishings, and that includes upholstery, coffee tables, end tables, and things of that nature. Probably another 10%, you should set aside for accessories. So that's 50% that you're working with already. The remaining 50% can be divided into different categories depending upon what you're looking to achieve with the space. Rugs can be expensive. They can be super-cheap, but they also can look like it. So I would attribute at least 10% to 20% of your budget, because it's under your feet. And you want to make sure your feet are treated fairly when you come home from work. Decorative lighting can also be an expense. I would put in at least 10% for that. And you could even increase that to 20% depending upon how much you're going to do. And when I say decorative lighting, I'm also speaking to lamps, chandeliers, sconces. And then finally working your way out from that point, you need to consider if you are going to wallpaper or paint the room. It's not just about purchasing the wallpaper, but you also have to purchase the labor to install the wallpaper or to paint the room. That can vary, so I would put between 15% and 20% for that. And Then most remaining would probably be your windows. How expansive are you going to go with that space? Are you going to do drapery? Are you going to do blinds? Are you going to do shades? That can also account for at least 10% to 20% of your budget. Invest well in those particular selections as long as that makes sense for your budget. If you're only going to decorate a few rooms and your budget is limited, I would choose the rooms that matter the most. You want to give attention to what you need the most in the room. What are the actual pressing needs of the space? Do you need new furniture, a new sofa, a new chair, a new coffee table? Do you already have those items? And maybe all you need to do is freshen things up and change out the rug, change out the lamps and maybe the ...

About the Instructor

Considered one of the most prominent interior designers working today, Corey Damen Jenkins creates elevated spaces for clients across the globe and believes everyone should have access to great design. Now he’s teaching you how to build bold, functional interiors on any budget. From mood boards to space planning, learn how to embrace the design process, make choices with confidence, and turn your home into a true haven.

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Corey Damen Jenkins

Acclaimed interior designer Corey Damen Jenkins shows you how to make bold, functional interiors on any budget—from mood boards to space planning.

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