You're on track, so you push the button and purchase the items. Then the credit card bills roll in, and the stuff arrive and somehow it's not done AND it seems like it's costing a lot more than planned.
Let's start with the most obvious cost we tend to ignore -- sales tax. In New York sales tax is 8.875%. That's pretty close to 9% which is pretty close to 10% in my book. But did you know that shipping is added on before tax is calculated? Yes it is, and that compounds things a bit.
Here's how this room added up - fortunately a few of the stores we sourced from don't charge shipping, and a couple don't even charge sales tax. Yay! (at least for now)...
Pre-tax, pre shipping cost: $5934
Total: $6747 - about $800 over the initial numbers -- or almost 12% over.
But wait, there’s more...
The light fixtures need to be installed by an electrician, because they are hard wired (no cord) - $300
Then you'll likely need someone to repair the wall after the electrician is done - so let's say $300 for that. Then you need the wallpaper hanger to come in for $600. That’s another $1200 for labor, and your mirror still isn’t hung up…
Now, this is not meant to be depressing, but just a way to think about the budget. You thought you were coming in somewhere around $6000, but now, you are at about $8000. -- 20% over your intended budget. You can see where this heads with a larger initial budget.
The takeaway? You should add at least 20% into your budget over the cost of your furniture. but if possible, I would bring that number up to 30%. So, plan to spend a third less than your total budget on the base furniture cost, and save the rest to help with taxes, freight and installation. That way you’ll have a little left over to celebrate with a glass of champagne!
Interested in the items on the board? Here are the links:
Wallpaper | Bed | Wall Sconces |Mirror | Dresser | Bench | Pillows | Chair
What if I love the look but I need to cut back? There are some 'splurge' items here, like the dresser, but there are also a few well-designed pieces that are real bargains, like the sconces, the mirror and the chair. If you wanted to save a bit, you could substitute the 'non-leather' version of the bed, and find a lower priced seagrass bench. To save on the labor you could source plug-in sconces instead. I think the wallpaper adds a lot to the space, so I would keep that.
TIP - if you are bringing in a wallpaper hanger for just a feature wall, ask yourself if there is anything else you want wallpapered? The back of cabinets? Another wall? A small powder room? The cost will likely not be much more since you are paying for them to get there in the first place, and you can get a big 'added value' from having more areas enhanced with wallpaper.
Planning a room makeover? Want to give (or ask for!) a truly special holiday gift? CAVdesign now offers a brand new package - the VIP Master Plan! And, for a quick room refresh, a Design Coaching Session will help get your mantle pretty, your bookshelf styled or your artwork hung -- use it for what you need the most.
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