The 70/30 rule in interior design is a guideline for mixing styles, colors, or designs. It states that 70% of a space should feature a dominant style or color. In contrast, the remaining 30% can incorporate a contrasting or secondary style or color.
In construction estimation, the 70/30 rule also indicates that 70% of a project budget goes to hard costs such as materials and labor, and 30% to soft costs such as design, engineering permits, etc. This helps the construction stakeholders and estimators create a realistic budget and avoid financial surprises. This comprehensive blog post will discuss the 70/30 rule in interior design. Additionally, we will also explore the 70/30 rule in construction estimation. We will highlight the best places to get construction estimating services in NYC. Let’s begin.
The 70/30 Rule in Interior Design:
The 70/30 rule in interior design is a guideline that indicates that 70% of the styling, color theme, or design will be 70%, and the remaining 30% will feature another style, color, or feature. Additionally, the 70% represents the foundation of the design, which establishes the overall mood and tone of the room. In contrast, the 30% enables introducing a contrasting or complementary style or color to add depth, character, and visual interest without overwhelming the main design.
- You could use a rustic decor style for 70% of the room and mix in some bohemian details for the remaining 30%.
- Or, you could use a monochromatic color scheme (like black and white) for 70% of the room and add a single statement-making chair or accent piece in a different color for the remaining 30%.
The 70/30 rule helps create a balanced, cohesive design that feels personal and stylish. It can also be adapted to different design styles and color palettes, making it a versatile tool for interior designers and homeowners alike.
The 70/30 Rule in Construction Estimations:
The 70/30 rule works identically in construction as it does in interior design. However, 70% of the total cost is used for hard costs, and 30% is used for soft costs. Let’s explore how it works by discussing the hard and soft costs separately.
Hard Costs (70%):
Hard costs are the direct and tangible construction expenses, including material, labor, and equipment. The materials may include concrete, lumber, drywall, etc., and the labor costs include wages of the construction workers, working hours, subcontractors, and other labor involved in the construction process. The equipment costs are also part of the hard costs, which include the costs of machinery and tools used on the construction site. These three significant costs are part of the hard costs, so 70% is allocated to the hard costs. If you are a construction manager or estimator, dividing your total cost into a 70/30 portion and allocating 70% to material, labor, and equipment costs enables you to create a precise cost estimation.
Soft Costs (30%):
As the name implies, the soft costs are the smooth part of the cost estimation. These indirect expenses are not directly related to the construction itself. These costs include design fees, engineering fees, permitting fees, testing and inspection costs, project management, financing costs, and contingency costs. Let’s explore all these costs one by one.
- Design Fees: Costs for architects, interior designers, and other design professionals.
- Engineering Fees: Costs for structural engineers, mechanical engineers, and other engineering consultants.
- Permitting Fees: Costs for obtaining necessary permits and licenses from local authorities.
- Testing and Inspection: Costs for inspections and testing during construction.
- Project Management: Costs for project managers and other project management staff.
- Financing Costs: Interest payments on construction loans.
- Contingency: A buffer for unforeseen costs or delays.
Apply the 70/30 rule carefully by allocating 70% to the hard costs and 30% to the soft costs. However, this will enable you to create more precise and realistic cost estimations. If you can’t use this 70/30 rule properly, you can get help from industry professionals such as My Virtual Estimators. They have been offering premium cost estimation services at affordable prices for over a decade in New York City.
How the 70/30 Rule Aids Construction Estimation:
The 70/30 rule aids exclusively in construction estimation. It assists estimators by allocating a specific percentage to each cost category, creating a more realistic and balanced budget. It also helps control overall costs in the early stages of a project. The 70/30 rule identifies potential cost overruns early and facilitates informed decisions about budget allocation. Furthermore, estimators can identify possible issues and develop contingency plans accordingly. It highlights the significance of hard and soft costs, enabling a more comprehensive assessment of the project’s overall cost structure. A well-crafted contingency plan helps estimators manage soft costs effectively and mitigate the risk of unexpected expenses and delays. This enhances overall satisfaction and confidence among construction stakeholders in the project.
Bottom Line:
The 70/30 rule, often called the rule of thumb, can be applied in interior design and cost estimation. However, in interior design, 70% of the interior is used for significant coloring or design, and 30% includes minor changes or sub-sections of the substantial portion. On the other hand, 70% of cost estimations deal with hard costs such as labor, material, and equipment costs, and 30% of the expenses deal with soft costs such as permits, engineering, licensing, etc.
If you are a construction stakeholder looking for precise yet affordable cost estimation services in NYC, My Virtual Estimator can help. They are the best in the business and have years of experience offering reliable estimation services. You can count on them for all your construction cost estimation needs in NYC. Call them to book their reliable yet affordable estimation services today!
