Is Interior Design worth it? Is Interior Design expensive? Does Interior Design add value to my property? These are common questions and here we aim to provide examples and detailed research (that indicated up to a 24% increase in property value) to help you decide…
So, this topic is complex and can be looked at from a number of angles, some tangible and some intangible but Interior Design wouldn’t be here if there wasn’t a genuine need for the skills involved. Let’s try and break this down, starting with easy perspectives and finishing with some real research results.
First, we need to do some myth busting as Interior design is often misunderstood. A full design service includes many technical documents and skills involving more research and practical knowledge than most people realise. Our blog post ‘What do Interior Designers Do? might be helpful to read first. For clarity ‘Full Design’ is the highest service level, other service levels are usually available, so it’s worth having a detailed conversation with a designer on your needs up front.
So, let’s start with the easy examples…
Designer fees do vary based on their experience, the level of detail, number of bespoke items and the size and complexity of the project. Let’s set a starting figure for an average sized UK bedroom or living room, within a typical 3 to 4 bedroom home. The design fees might range between £2,000 to £4,500 for a full design service, where every item is uniquely selected for the client and their property (excluding project management).
If that sounds a lot, take a moment to consider how much the flooring, window dressings, furniture and lighting costs for that room. The average mass produced lower quality sofa is around £2,000. It’s not uncommon to hear how people have invested thousands to complete a room and they’re not happy with it, there were mistake purchases, or that something didn’t fit, or items were an emergency purchase only to be replaced. What if it all was right first time?
Now look at how much your time is worth…
Clients range across all manner of people and backgrounds. Some may calculate their time from their salary, others from where they need to spend their time. Creating a practical, sustainable and beautiful interior takes significant planning and research to ensure every product meets the aesthetics and practical needs. Do you have that time, or would it be more valuable for you to spend it elsewhere?
And now on to the value of your property…
Did you know that a design led home has a tangible increase in value? Research commissioned by Hill (2019) founder of The Modern House and led by Dataloft, returned findings that ‘design-led homes achieved 12% higher price on average, the range was between 10% at the lower end of the market and 19% on homes of more than £1,000,000.
The most attractive single design feature to buyers is an abundance of natural light, and this increases the value up to 11%. If parking is seen as a design feature, this increases value up to 10%. Overall, having an interior that is considered to be design-led can increase values up to 24%’*
A design led home is considered a property that has been designed by both an Architect and Interior Designer, and although we cannot be wedded to these figures, it is clearly indicative that even an interior designed property will command a higher value. When we think about it this makes sense. If there are two identical properties for sale in the same area, one is a blank canvas and one has been designed and presented beautifully, which one will potential buyers put in an offer for and consider paying a higher price?
And finally, there are the intangible benefits, which range from our natural enjoyment in being in aesthetically pleasing and tactile environments, to the newly proven mental health benefits of biophilic design (bringing nature in and promoting our connection with nature).
*Figures are from a study that compared the price per square foot of 212 London homes sold by The Modern House (which only lists design-led properties) against the prices of more than 14,000 randomly chosen London properties in 2014-2017. These figures are not designed to be an accurate projection for a specific property or design project today.