Every kid remembers the room of their childhood. Here's some advice to consider as you tackle designing this very special environment for your own child.
Kids and their needs continue to evolve. Make sure to build in options for flexibility as they grow.
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Thank about the space they have and the space they need. Measure everything. Consider storage of both clothes and toys. Decide what size bed is best and then fill in around it.
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This one can be tough, but it's kids pick. Keep the basics (furniture, carpet, etc.) in a neutral tone and changing color schemes will be much easier and inexpensive as their taste evolves. Odds are you won't have to put up with bright purple and neon green forever.
Let them be as involved as they want to be during the design process. This is their room after all - their most special place. The more involved they are, the more ownership they'll take of the space. Set a budget and let them begin to learn how to manage a project. Let them help you shop for furniture and test mattresses. Painting together may not give you the crispest lines, but it will create memories for a lifetime.