Collecting and comparing cost estimates from multiple interior design firms (and individuals) is a very common activity that customers do when looking to decide who to hire. The market is full of firms and individuals providing interior design services, each eager to sign up the customer by lowering their prices to meet the customer’s approval. However, a drop in price rarely comes without a tradeoff and, as customers, it is important to be aware of what that trade-off is when comparing estimates.
There are multiple factors that influence the cost of an interior design project:
- Material Quality: This is the one of the top things that affect the cost estimate. The quality of the material affects the performance and longevity of your furniture, electricals, waterworks, and soft furnishings. It is common for firms to not share details or share partial details about the material they will use – insist on getting complete details; for example, it is not good enough to know if they will use ply from Century or Greenply or Glennwood – instead, ask them to mention the sub brand, thickness, and other specifications
Crosscheck these details with other firms or on the company’s website, and ensure that the warranty for all the material being quoted is comparable.
- Dimensions / Size / Quantity: Ensure that the cost estimates you are comparing are for the same specifications in terms of size and quantity; for example, if two firms have provided different costs for a TV unit (using the same material), check if they have quoted for the same dimensions because material is priced per square feet
- Scope of work : Some times, firms / individuals leave certain parts of the customer’s requirements in order to total up to a favorable price point – ensure that the quotes you are comparing have covered ALL your requirements properly
- Design and/or Project Management Fee: Some firms charge a flat, fixed fee for work related to design and project management; look for it and see if it makes sense to pay for it
- Process: Compare the process and timelines, and understand what is the level of involvement expected during the project, how will material selection happen, etc.
- Body Language: Check how the firm interacts with you – are they responsive, are they happy to get into details, are they transparent about the hairy matters, and so on
- Gross Margin: Every firm or individual will always add a margin to their costs (product and service) in order to do the business viably; however, some firms might choose to offer a discount on inflated prices to make themselves look more cost effective at the negotiation table – our suggestion is you work with firms who don’t do this because it indicates a lack of transparency at the first step which could be a pattern through the project.
Pro-tip: if looking to save some money, ask the firm if they have a referral program – it is often a good way for customers to save money and it is a win-win for both parties
Unfortunately, there is no easy way to compare cost estimates. At Nestopia, we help customers looking to work with us by simplifying all the industry jargon, to help them ask the right questions, and take a rounded decision that is in their best interest.
