How To Start A Budget Plan?22 Feb 2021 | Tip & Trends
Okay, let's look at this budgeting formula:
Total Budget = Design Fees + Home Remodelling (both labour & materials) + Built In Cabinets + Soft Furnishings (Furnitures, Decorations) + Electrical Appliances
Before we determine the ratio of budget allocation in different category, let us look at the category in renovation?
01. Home Improvements
Electrical work, Masonry Work, Wet Work, Ceiling Work, Painting Work, Plumbing Work, Window & Door Work
02. Build in cabinets
Kitchen cabinets, Wardrobes, Feature walls / cabinets, storage cabinets
Living, Dining, Bedrooms, Study Room, Entertainment Room etc.
04. Soft Finishing
Pillows, Plants, Decorations, Bedsheets, Bathroom sanitary items, Mirrors etc.
05. Electrical Appliances
Fridge, TV, Kitchen Appliances, Ceiling Fans, Lighting products, smart home etc.
Budget Ratio In Each Catagory
There is golden ratio of 2:1:1, where- Home Remodelling (labour & materials) : Soft Furnishings (Furniture & Decor) : Electrical Appliances
However, this is just a reference.
Bear in mind every budget ratio plan should be customized according to the homeowner’s requirements.
An example is shown in the following chart:-
Based on this budget planning, the homeowner values storage space and they are ready to invest a large sum in built-in cabinetry for their new home. Since this is a new, bare unit, it is easier to plan your budget for a blank canvas space. The percentages of the chart will shift according to your personal needs.
No. of Pax stay in: 1 Pax
Love to cook, detail-oriented, he works as IT system consultants (usually work from home and spend most of the time at home)
800 in total sqft, original kitchen layout is small, sizes of all rooms are small.
Maximize storage spaces
Additional Cost: RM15,000
Celebrating life with interior design.