There are more than a handful of things to consider when doing your apartment home, but the backbone of all your ideas and dreams is your budget. If your looking to allocate a budget for your apartment interiors then this article will help you to arrive at a ballpark figure regardless of the finishes or the type of work done( carpentry/ modular) etc. In this article, I will be covering 2 important points. a)The budget you can allocate for your apartment interiors. b)Splitting the budget for different components of the design.
"How do I know if my budget is too high or too low for my requirements?" For this particular reason, many of my clients hesitate to reveal the budget they would like to work with. There are no rules on how you should be doing this, but here is a method you can try. Priorities and requirements change for every client and so there is no rule as to how much has to be spent.
Let us split interiors into 2 parts. The first includes your fixed furniture/ hard furnishing- modular kitchens, wardrobes, other storage units you can think of in your home. This will be budgeted at 8%-10% of your property value.
The second part includes your loose furnishing/soft furnishing as in your bed, couch, dining table, lighting, accessories, etc. These are luxury items and up to you for spending as much or little for your home. This is usually 3-5% of your property value. So for the basics, you can include furnishing, painting and appliances. If you'd like to go a little extravagant, then you can also opt for false ceiling, fancy lighting, accessories etc.
For example, the value of your property is Rs.1 Cr, the cost you can allocate for your fixed furniture is around Rs.8 Lacs-Rs.10Lacs. The cost allocated for the 2nd part will be Rs.3Lacs-5Lacs. Overall you can allocate 10-15% of your property value for your interior.
If you'd like to learn more about your home interiors, reach out to me for your first FREE online consultation at firstname.lastname@example.org .