Ever start a home design project and become so overwhelmed you don’t even know where to begin? You may be interested in hiring an interior designer for professional guidance, but are unsure about their fee structures and how much such a service would cost you.
Here are some of the most popular ways that interior designers charge for their services. Every interior designer will have their own preferred method, and some may be open to adjust their methods based on the particular project they are presented with.
With this fee method, the designer will gather as much information as they can regarding the project and provide a set fee that would include all services required for completion. They will most likely require a deposit, that can range from 10%-50%, before they begin their work. Then the designer would collect progressive payments along the way. An issue that can arise with this fee method, is that the scope of the project can change over time, therefore, designers may be hesitant to collect their fees in this manner.
Some designers like to charge by the hour. With this fee method, the designer would be required to keep detailed logs of the work they do. Clients may be hesitant to agree to this fee method because designers work at different rates. Some may take longer than others to complete a project, therefore you run into the issue of having to constantly question the designer and the time they took to complete a given task.
PERCENTAGE OVER WHOLESALE COSTS:
This is a very popular method that is employed by many designers. Under this fee structure, designers will purchase items associated with the project at wholesale prices, and then charge the client a percentage, usually around 25%, on top of the wholesale costs. This is a great method because it is very straightforward. The client does not have to worry about the designer overcharging for furniture because they are aware of the wholesale cost and they are aware of the percentage the designers mark up on that cost. There are no secrets here!
COST PER SQUARE FOOTAGE:
With this fee method, designers will charge a rate multiplied by the square footage of the space they are working with. For example, the designer may say that they charge $4 per square footage. If you have a 5,000 sq.ft home, your designer fee would be $20,000. This fee would not include furniture.
Many designers will chose to use a combination of the different fee methods. For example, they may charge a design fee based on the square footage of the space, and in addition will charge the wholesale prices, plus their markup, on items purchased for the home. The client is benefiting from the wholesale prices, and assuming the designer is charging a 25% markup, they will ultimately get at least 25% off retail prices because most retailers charge a 50% or more markup from wholesale.
Interior designers always have the option to use various methods based on the particular project, there is no rule that you have to use any of the above methods! So do not be afraid to contact Design by Nadia and provide me information about your project! We may be willing to work with your particular situation and adjust our usual fee method, so that the structure works best for both parties!