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The Novogratz Family’s Best Tips for Planning a Fabulous Home Renovation on a Budget

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When planning a home renovation, Bob and Cortney Novogratz say it’s best to get all of your ideas down on paper first.

“Be sure to make a wish list with your partner and your children and be realistic,” says Cortney in the third episode of PEOPLE’s new home design web series starring the family, The Castle Next Door. “Keep to the budget.”

RELATED: Watch Every Episode of The Castle Next Door: The Novogratz Family Take Hollywood

But making economically smart choices is not always easy, so Cortney suggests splurging in small doses.

“If you’re going to spend in one area then save in another,” she says. “If you want wallpaper but can’t afford to do the whole room, do an accent wall. If you want an extravagant kitchen countertop, spend on the island and keep the other countertops simple and affordable.”

For the parents of seven kids, Wolfgang, 18, Tallulah and Bellamy, 17, Breaker, 15, Five and Holleder, 10, and Major, 7, part of their wish list was making a music room for Breaker.

RELATED: Planning a Major Home Renovation? The Novogratz Family Shows You How to Throw a Blow-Out Construction Party

“We kind of wanted like a place that we could hang out and express ourselves,” says Breaker. “The ideas I’m sort of having is to have cool artwork of different musicians, different concerts, stuff like that—and obviously instruments everywhere.”

To see how Breaker’s music room project stays in perfect harmony and to keep up with the Novogratz family’s most exciting design project yet, visit PEOPLE.com/novogratz.

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