Series 2: How to cost engineer an interior design / interior architecture project
A professional experienced interior designer or interior architect will manage cost planning and time management
A well-trained experienced professional interior designer or interior architect will always design to a given budget. At the outset of any new project WOOLF Interior Design & Interior Architecture will assess the cost of a project using a few key skills. It is not a mystery. This technique is both an art and a science, that is based upon years of experience and plain old mathematics.
Firstly, we will look at the sq ft of a residential or hotel interior project and apply a rather broad ‘pound per square ft calculation’. Secondly, we will breakdown costs per room and in many cases per item and per finish. Thirdly, we will look at the entire property and consider the type of design aesthetic we are working with. It is from these parameters we will agree which areas of the project requires a higher or lower spending approach. We then adjust the cost plan according to the three criteria to produce a detailed provisional interiors cost plan that is a great template to guide us in our design approach and inform choices that we select and present to the client. Explore WOOLF Exceptional Interior Design Service & Expertise .
At the initial appraisal stage, an interior cost plan tends to be provisional and as the design evolves the cost plan will convert into an estimate of cost and then into an actual cost summary. The interior cost plan is an essential tool that enables us to price all the costs, including appropriate trades or consultants, who need to be included in the project. The interior cost plan provides us with a guide of how to evaluate the design approach and keep the project to budget, so that we stay on budget and costs do not become unwieldy. A common perception is that employing an interior designer or interior architect is an expensive addition to a project. In fact, the opposite is proven. Financial project co-ordination by a top professional experienced designer, controls and manages cost. Explore WOOLF Exceptional Interior Architecture Service & Expertise .
The process is more intensive when working on hotel interiors cost plan because the cost evaluation will also be driven by the cost per key (or room ). We will also be factoring in the level of service and finish that the hotel brand is delivering and we will also look at the (ROR) rate of return per room. Explore WOOLF Exceptional Interior Architecture Service & Expertise .
On hotel or residential projects that require fairly substantial internal alterations, the expertise of a Q.S (Quantity Surveyor) can be drawn upon to ensure financial accountability from the consultants and design team. A QS will ensure the refurbishment or build costs are accurately calculated, by studying drawings and specifications provided by all consultants. From this information, they will forecast and manage the ongoing cost of quantities of materials, labour and timescales. At WOOLF Interior Design & Interior Architecture we always suggest to allows a 10-15% contingency margin on any type of project, for unexpected issues or changes of direction.
An experienced interior designer will ensure the interior budget is spent efficiently - The issue of ‘Trade Discounts’
A really great interior designer will be able to negotiate significant trade discounts with long standing trade partnerships, something unavailable to retail or even commercial individuals. ‘Negotiating prices from suppliers can be time consuming, but a good design practice can obtain optimum trade prices speedily,’ says Verity, Director of WOOLF. Different designers offer clients different ratios, some mark-up trade prices and some do not offer any discount at all.
Professional design practices should get great discounts from suppliers because they have considerable purchasing power. ‘Unlike an individual retail client, we offer repeat business to suppliers who offer us optimum deals,’ says Verity. She has often said that ‘The interior design trade account issue should be an industry standard approach, because if the design practice has good and long standing trade relationships, there are significant savings to be offset against the overall cost of the project.”
WOOLF Interior Design & Interior Architecture have always advocated and operate an open book policy when it comes to trade prices. Procurement and client discounts are reported on a regular basis to track expenditure. Our policy is to divide equally our trade discounts on purchases with our Client, which is represented as a 50% share of the overall discount. This kind of policy encourages complete objectivity and ensures that the design practice will negotiate the highest discounts available. ‘In my view, this is the fairest, cleanest and most transparent percentage,’ Verity says. ‘Splitting the discount builds trust with clients and incentivises the designer to get the best deal.’ It can also have a significant and positive impact on the cost of the project. In many cases, our trade discounts are so high, that even after sharing them with the client, the cost of the design fee can be off set against the trade discount, making the fee cost neutral.’ Explore WOOLF Exceptional Interior Design Service & Expertise .
A professional interior designer will guide and steer you away from the visual tsunami
A client can easily get into a muddle when trying to plan an interior, it can be a confusing process. There are so many opinions, suppliers and different platforms to get inspiration and source from. The experience and expertise of a professional interior design practice means that they can curate your ideas and blend them into a workable scheme. Sometimes this means advising clients to let go of ideas that would prove to be too costly or would not work technically.
A good design practice will also be able to price into a project any bespoke made items. This is where projects usually spiral in cost, without the correct design approach. An experienced designer will ensure that clients have the confidence to commission bespoke pieces, designed to be within budget. ‘Our clients have a lot of input with one-off designs,’ Verity says. ‘Every project we undertake includes a bespoke piece of furniture or joinery very often inspired by something our clients have shown us.’ Explore WOOLF Exceptional Interior Architecture Service & Expertise .
‘If you have a good relationship with a professional designer, the journey can be a lot of fun,’ says Verity. ‘Your designer needs to be intriguing company, creatively inspiring, explore new horizons with you and manage the cost of the vision.’
An interior designer will future proof your project
Once you have established a relationship with a designer by working together on a project, that designer will have a thorough understanding of what you like. This can prove useful for future projects. ‘I get to know client’s tastes by working with them very closely,’ says Verity. ‘They often contact me later about another project or to change an element of an existing scheme. I know their taste and price bracket; we do not have to start from scratch and I can find a solution quickly. It saves time, money and aggravation.’
Designing a home or hotel, if handled by a professional designer should be a cost-effective, horizon-expanding and fun experience. Designing interiors is not just fun and games. In a professional practice, there is a significant amount of intellectual rigour at work behind the scenes. ‘The reality is that for designers, a project represents creativity and ingenuity but mainly we think about how to work to our best technically, dealing with consultants, understanding costs, procurement and timescales.’ Explore WOOLF Exceptional Interior Design Service & Expertise .
