How To Prepare a Swing Bed Budget
A swing bed is the perfect statement piece to enhance any outdoor space. As we inch closer to the spring season, there has never been a better time to consider updating your outdoor (or even indoor) space!
We’ve created a list of tips that will help you prepare a budget for this big purchase in time for the spring season.
DETERMINE YOUR WANTS VS. YOUR NEED
It’s important to analyze the “need” for your big purchase. While a Swing Bed is considered more of a want itself than a need, it can add value to your home and your quality of life. “A broad rule of thumb is that you should spend about 5 to 15 percent of your home value on renovation,” says lifestyle expert Dan DiClerico. You’ll want to be sure to review your income to avoid any financial stress that threatens the enjoyment of your new lounge space. Consider the 50/20/30 Rule to determine how much of your income you should be spending on a luxury item for your home. Financial experts recommend you spend 50 percent of your take-home pay on necessities like food or rent/mortgage. You should be putting away about 20 percent for savings in the future, while 30 percent can be used towards leisure items like vacations or, in this case, patio furniture.
What Features Matter Most: You’ll want to figure out what features of this outdoor swinging daybed are a must-have versus an idealistic desire. This would be helpful when comparing products later that best suit your needs. Are you a DIY-er who doesn’t mind a little product maintenance throughout the year to help cut overall costs? Is your intended space in an environment that experiences a lot of moisture or extreme temperatures that are likely to quickly deteriorate natural wood, requiring a more durable material option? Jot down the features that are an absolute for you now to help narrow down options when it comes time to browse products later.
When debating the pros and cons of various material options, you can also weigh the benefit of investing in accessories that assist with the protection of the item over time. Our Easy Covers offer a convenient and easy option for covering your product when not in use. It may also help offset some of the typical maintenance that can be expected with budget material options such as Pressure-Treated Pine or Cypress. You can usually expect to spend less than $300 on a coordinating cover for one of our swing beds.
Once you’ve determined exactly what you’re looking for and what elements are most important to you, you’ll want to research average or median costs for similar items. Doing this will help you ensure the expense you are taking on is right on target for what it typically costs and avoids any unnecessary spending. We offer three types of Swing Bed budget ranges and have included a breakdown below of these options to help you determine where you fall.
- BUDGET SWING BEDS: Our “budget-friendly” Swing beds are great for customers who want the comfort and elegance of an outdoor swing bed but don’t have a large budget to spend. Many of these items are offered with only basic customizable options, such as finish color or size. They typically lack in the range of ways to make your product exclusively “you”, but do offer the most popular features we find our customers enjoy. Our Easy Covers also provide an easy and effective way to help protect your product from the elements, which can be the perfect solution to some of the downsides of the less durable wood types used to craft these items. Depending on the overall size, these items can usually range from $800 - $1200.
- MID-TIER SWING BEDS: Just a step above our Budget Swing Beds, we offer a mid-tier range that features products crafted in more durable wood types as well as a few more customizable features without the expense of the more High-End Swing Beds. You typically have more flexibility for what “parts” of the swing bed you want to customize. Our Mid-Tier Swing Beds typically range from $1000 - $2000.
- HIGH-END SWING BEDS: The crème de la crème of our Swing Bed collection for the customer who wants everything there is to offer in an outdoor swinging daybed. Our high-end Swing Beds are offered in either a variety of wood types to choose from or more durable materials such as cedar or teak. These items usually require little to no assembly or maintenance and have a much wider array of customizable options to ensure your Swing Bed is as unique as yours. The base cost for these furniture items can be upwards of $2500 but are usually worth the expense when looking for a low-maintenance and more complex or intricate design.
Now that you’ve determined where you fall in regards to the price tier you’d like to stick within, you’ll want to start comparing like products. All of our Swing Beds have a “Key Features” section on the product page that showcases the unique features of the item. What does one swing bed offer that another one doesn’t? Is the wood quality the same, but the options to customize aren’t? This will help give insight into the products that fall closest to your needs as well as your budget. Keep a list of the swing beds you’re interested in, what you like or don’t like about them, and which ones are the closest match to what you’re looking for.
Following these simple steps will help you prepare for your big purchase without the stress and guilt you can usually anticipate with a large expense. We are also happy to offer the option to checkout with Affirm, which allows you to break down your purchase into monthly payments instead of one large sum. Achieving your dream space has never been easier!