Interior designing is not exactly recognised as a low-cost option. Despite this, the market for home interiors and renovation in India is growing steadily and is estimated to be between USD 20 Billion- USD 30 Billion.
But with a proper understanding of the key expenses, it’s easy to make interior designing affordable for the clients and more efficient for the designers.
First, let’s start with the basics. Interior design involves various types of interior design costs like a site visit, iteration charges (charges for changes made multiple times), design-only costs, 3D view costs, site supervision costs, and so on. Traditionally, designer’s charges incorporate a flat or lump sum designer fee, followed by hourly rates and then a mark-up or a premium fee on the products. In addition to the above, there may also be other charges depending on the designer and the client’s requirements. All these tend to be too complicated for the customer at the first glance.
Unless the client has an infinite cash flow, a proper set estimate is the first to be agreed upon before starting the project. The best option, in this case, is to take the aid of an accurate and advanced cost estimation tool that will not only help the designer but also help the client know the costs in advance before making (or changing) any decision for their interiors.
Why is an Interior Design Cost Estimate so Important?
Clients often want a quick and easy answer about how much an interior design project will cost for their home (or office). However, designers often find it difficult to answer this question without a standard and universally accepted pricing method. Furthermore, there are many factors specific to the designers, clients, and the general interior design business.
When calculating interior design costs, numerous small accents and minute details add up to the total price. It is difficult to remember and account for all of them in the initial stages itself. An interior design cost estimate will help one keep track of all the necessary components (both big and small) and will help one save a lot of time.
Advantages of an Accurate Interior Design Cost Estimate
So whether you are a designer or a client, discussing a BOQ is a must. If you do not have a design cost estimate yet for your project, here are some reasons to start creating one soon.
1. Paves the way for better negotiation
Having an accurate cost estimate at hand makes the entire process of negotiation much more smooth and transparent. Instead of adding up prices at the last moment and making things complicated for both parties, it is better to start with a proper estimate.
With an accurate cost estimate tool like the cost calculator by Hipcouch, the designers can break down the costs into various components and show the clients how the final price is broken down with a clear specification sheet. An accurate estimate helps one validate their costs and the fee charged.
Also, if the clients want some room for reduction, a clear-break-up cost sheet makes it easy to choose which components one can save upon or eliminate to bring down the cost.
2. Makes Sure Nothing is Missing
Having an accurate cost estimate for interior design brings peace of mind as one can be sure that no costing aspect is overlooked. In addition, this will bring in a better client relationship as one need not ask the clients towards the end for additional charges that have gone unnoticed.
3. Track and Estimate Changes in Costs
At times the client may suddenly change their decision to modify their previous choice, like asking for a change in the type of paint or wallpaper design. The client may require an estimation of the costs of the different available options to compare and arrive at the best choice. Clients may also demand multiple changes all at once.
In such cases, an advanced cost estimator like that of Hipcouch's advanced Cost Estimation Tool comes in handy to the designer. This tool (carefully designed in collaboration with experienced architects and interior designers) provides real-time cost estimates and rate analysis to interior designers and end customers.
Moreover, there are various options like Essentials, Classic, Plus, and Premium. Therefore, the designer can choose the option based on the client's requirements and instantly arrive at the cost estimate.
For the client, this is as quick and efficient as the journey can be.
4. Helps Break Down Soft and Hard Costs
At the end of the day, cost estimation is all about splitting costs into soft and hard costs. Soft costs relate more to logistics and legalities involved, while hard costs detail the materials, labour, and the like. A good cost estimator makes this division and management of costs seem like a cakewalk. Certain advanced interior design cost calculator tools also offer service-wise and room–wise cost estimate splits. These options will help in modifying items to suit the client’s needs.
So are you ready to prepare your interior design cost estimate with our calculator?
If you still need advice in choosing an interior design or preparing a cost estimate for your project, schedule a consultation with us today.