Part III - Your Nursery Budget
If you feel like you have no idea what a nursery should cost, you are not alone. Every client we meet with struggles with how much a nursery should cost.
The most important thing to remember when budgeting for baby is to plan well and not nickel and dime yourself. Small things here and there add up quickly! Below is a simplified version of the budget guide that we take our clients through. This includes just the basics, but should give you a good start.
Remember your SQ (sustainability quotient) from Part II? It's going to come in handy now. As you begin the budget process, keep in mind the things you want to invest more money in and those where you don't want to invest as much. A dresser, for example, is something that your child might take with them to college. A crib, on the other hand, is something that you may only use for a year or two at the most if it converts into a toddler bed.
With these things in mind, continue on to Step#1.
Step#1 Take out a pen and a piece of paper. Note the cost you feel comfortable spending on each furniture piece based on the average price in the category. For example, if you want a moderately priced crib, write down $650 for your crib budget. Then, continue down the list.
The Crib
Least Expensive (Babies R Us) - $200-$450
Moderate (Pottery Barn) - $500-$900
More Expensive (Modern Furniture, Boutiques) $1000-$2500
Most Expensive (Custom, Luxury) $3000-$5000
Example Budget: Crib - $650
The Changing Table/Dresser
Least Expensive (Babies R Us) - $150-$600
Moderate (Pottery Barn) - $400-$1200
More Expensive (Modern Furniture, Boutiques) $1000-$2500
Most Expensive (Custom, Luxury) $3000-$5000
Example Budget: ChangingTable - $400
Glider/Rocker
Least Expensive (Babies R Us) - $200-$400
Moderate (Pottery Barn, Lone Star Baby) - $400-$1200
More Expensive (Modern Furniture, Boutiques) $1000-$3000
Example Budget: Glider - $550
Step #2 Add all of the above.
Example Budget: All Furniture - $1600
Step #3 Accessories & Decor To set a budget for accessories and decor, take 20% of the total furniture budget.
Example Budget: Accessories & Decor - $320
Step #4 Add totals from #2 & #3 to set your total budget. Too high? Too low? Go back and adjust where you think you can, but be realistic.
Example Budget: $1920 = total nursery budget
Next: Part IV - Deciding Your Color Palette
Miss Part II? Read it HERE!