The current economic situation is challenging, and is causing folks to reassess their spending priorities. I actually think this might be a good thing for the design projects that still are going on. There are gorgeous products in the world, and it is easy to fall in love with high end materials. But in a sense, when you have the ability to purchase picture perfect items for every area of your home, you are robbing yourself of the opportunity to solve your design problems within a set of limitations. A budget creates a challenge, when redesigning your home, and one’s mind functions better when solving challenging problems. Which brings me to the number two reason why your design project will be better if you are working with in a tight budget:
#2- You will be more creative! When you buy expensive products for your home, everything is beautiful because a staff of designers has done a wonderful job creating that item. I love high end design, but think that it is fun to take some of the creativity back from those designers. After all why should they get all the fun? You budget forces you to purchase expensive products sparingly, which frees you up to do creative problem solving. I use wallpaper on plaster walls in older homes, because it is so difficult to keep cracks from showing up as the house shifts (especially in earthquake country) but it can be expensive, $80-120 a roll, is not unusual. How about this idea, using old newspaper or pages from a book? Selecting a used addition of a favorite novel would add a layer of personal meaning to your walls.
Even on high end projects I always use vintage pieces of furniture, they add additional charm. But expecially for wood items like end tables, or dressers, they represent significant savings over buying new, and are always higher quality than new items of the same price. I love selecting an item that reminds a client of a special time in their life, lunch in grandma’s kitchen might be evoked by a vintage painted table, or their groovy professor’s house by a mid century end table ($85 on craigslist). So, by paying attention to a budget, a bunch of creative options come into view for creating a more personal space. Wood pieces are easy to refinish, and vintage shapes add a unique touch to a home. If you have a Craigslist organization locally, that is a great place to look, and the best bargains are always at tag sales.
Over all, having limits on your budget gives you the freedom to think creatively about your design direction. Solutions are not just handed to you (for a price,) it takes work. But once you start thinking creatively you will end up with a design solutions that are more personal, more fun, and save you money.