Using a Home Decorating Budget Template

Embarking on a home decorating project excites and overwhelms in equal measure. It’s easy to get caught up in selecting swatches and picking pieces—but it’s your budget that truly shapes your design journey. Whether you have a few hundred dollars to spend or tens of thousands, it’s essential to set and stick to a home decorating budget to avoid going over. This is especially important for those who may be working with a limited timeline, as it will help ensure all decisions align with your goals.

When setting your home decorating budget, begin by identifying the room or rooms you’re targeting. From there, research the items on your wishlist and real costs to make sure you’re not surprised by any unforeseen expenses. This is especially important if you’re bringing in skilled trades to paint, hang wallpaper, run wiring for new lights and so on. Once you’ve a clear idea of how much your project will cost, it’s time to prioritize and decide what will go first and last.

It’s also a good idea to establish a general furniture spending budget, advises Kristan Cunningham, interior designer and host of DIY Network’s Design on a Dime. A reasonable furniture budget typically ranges from 10-15% of a new home’s purchase price, though this will vary depending on the style and scale of the space.

As you’re itemizing, divide your budget into three columns: good, better and best. “Good” typically means good quality, while better may include performance fabrics for spills and wear, or high-end furniture with rich upholstery. For the most expensive items—such as a sofa or bedroom suite—splurge on something that will add value to your home and last a long time.

With a plan and a spreadsheet in place, you’ll be able to track actual spending versus the planned budget with ease. Using this home decorating budget template makes it easier to keep your projects on target while minimizing any financial stress. Plus, it’s a great way to save money on future projects!