How to Budget for an Interior Design Project: The 2025 Studio Ray Guide
Embarking on an interior design project can undoubtedly be one of life’s most exciting journeys. Yet before the first sketch is drawn or the first fabric swatch chosen, one essential foundation must be laid, and that is setting a realistic, considered budget!
It’s the part that so many clients really don’t want to have to acknowledge the reality of, but it’s absolutely crucial to the success of a project. Understanding the financial framework from the outset is key to ensuring a rewarding and as stress-free as possible experience.
At Studio Ray, we believe wholeheartedly that exceptional design should always feel like a wise investment. We know that ‘budget’ means something different to almost everyone and we are dedicated to guiding our clients through every step of the process with absolute transparency.
Here’s how to approach budgeting for your interior design project with confidence.
1. Define Your Priorities
Every successful project starts with identifying what matters most to you. Is it the luxury of bespoke craftsmanship? Architectural detailing? Statement lighting? Perhaps it’s a curated art collection or investment in high quality sustainable materials.
Clear priorities allow us to allocate your budget where it will have the most impact. At Studio Ray, we work closely with you to ensure that your financial plan is an honest reflection of your design aspirations.
2. Set a Realistic Overall Budget
Once your priorities are clear, it’s time to establish an overall figure. Several factors will influence this - including the scale of the project, the level of detail involved, and the quality of materials selected.
Typically, your budget will include:
Design Fees: Covering the creative expertise, time, and project management your designer provides.
Materials & Furnishings: From natural stone to handcrafted joinery, these are often significant investments.
Labour Costs: Skilled trades & contractors - builders, decorators, craftsmen - are vital to achieving an impeccable finish.
Contingency Funds: A wise safety net, we typically recommend 10 - 15%, to accommodate the unexpected along the way.
3. Break Down the Costs by Category
With an overall budget in mind, many clients like to begin to drill down into individual categories and decide on where they might like to allocate their budget. We’ll help you with this during our initial consultation and we’ll continue to work your budget to it’s maximum potential throughout the duration of your project, looking at:
Design Fees: Covering concept development, drawings, sourcing, and management.
Construction & Renovation: Any structural work, alterations, or build elements.
Furniture & Furnishings: From iconic pieces to custom creations, tailored to your vision.
Lighting: Both functional and decorative lighting - a vital, transformative layer of any design.
Artwork & Accessories: The finishing touches that truly personalise your space.
At Studio Ray, we work meticulously to ensure every element is accounted for, allowing you full visibility from day one.
4. Be Transparent About Your Budget
While it can feel daunting to discuss figures early on, open conversations about budget are the foundation of a successful project. By being transparent about your parameters, we can create solutions that maximise value without compromising style or quality. Our collaborative approach ensures that your investment is always working hard for you.
5. Expect Some Flexibility
Design is inherently a creative and evolving process. As ideas are explored and new opportunities uncovered, adjustments to the original plan - and budget - are sometimes necessary. At Studio Ray, we pride ourselves on offering intelligent, flexible options to stay aligned with your goals - often finding creative ways to achieve the same effect at a more accessible cost, and of course without sacrificing impact.
6. Plan for Ongoing Maintenance Costs
This is particularly relevant for commercial or high-use residential spaces, it’s important to think beyond the installation phase. Ongoing maintenance - from periodic professional cleaning to the eventual refresh of soft furnishings - is an essential part of preserving the beauty and functionality of your space over time. Factoring these future costs into your original budget planning is both wise and reassuring. The Studio Ray team will always help set realistic contingency for this.
7. How Studio Ray Helps You Stay on Track
As your design partner, Studio Ray is committed to managing your project - and your budget - with rigour, respect, and creativity.
We provide:
Clear, detailed estimates and transparent pricing.
Expert advice on materials, finishes, and furnishings that align with your priorities.
Proactive project management to keep both costs and timelines firmly on track.
Our aim is simple: that you’ll feel proud of the space we create together - and confident in the investment you’ve made.
Ready to Start Planning?
Your dream interior is possible and within a budget that feels right for you. The key is working with a team that understands not just the art of design, but the art of intelligent, responsible planning and project management.
At Studio Ray, we would be delighted to help you bring your design vision to life.
Get in touch at contact@studioray.co.uk to book your Discovery Call - and let’s begin the exciting journey of designing your space, with confidence.