Design 101

How To Furnish Your New Home on a Budget

November 14, 2024

Going out of budget is easy when adding decor and furnishings to your living spaces. It’s important to be realistic about the expenses of each room and what you can afford, whether you're outfitting a new home or refreshing your space. Let us help you create a budget and determine what you should expect to spend on furnishing each room of your house.

Average Cost To Furnish a New Home

Generally, the average home costs around $16,000 to furnish from top to bottom. However, there are many factors that go into the cost of furnishing a home, and costs can range from $3,500 to around $100,000.

First, the number of rooms you’ll need to furnish affects the cost. The more rooms you have, the more furniture you’ll need to fill them. Similarly, the size of the rooms will affect the cost. A larger space takes either more or larger furniture to keep it from feeling empty and sparse.

The number of people in your family can also change the price. If you have more people to accommodate, you’ll need more of each type of furniture, especially things that may not always be shared such as chairs, beds, or desks.

Average Cost To Furnish Each Room of Your New Home

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Living rooms: $2,200 or 25% of your budget

In the living room, the major furnishings you need are a sofa or sectional, which are sold at an average of $1,000. From there, add in your other essentials, such as a coffee table, entertainment system, end tables, a rug, and decor.

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Dining rooms: $1,400 or 15% of your budget

Your dining set is one of the most expensive purchases for your new space, averaging a little over $1,100 for a table and chair set. However, many different styles, materials, and types of tables can meet your budget. Don’t forget any other extra storage needs you have as well.

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Bedrooms: $3,500 or 40% of your budget

Your bedroom furniture might be the most extensive purchase for your home, as there is a lot to furnish. The bed itself needs a mattress, bed frame, and sheets. While prices range drastically, you can expect to spend $500–$,2500 for your bedroom sets. From there, you will also need your other accessories, such as a dresser or nightstand.

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Outdoor/Patios: $900 or 10% of your budget

The extent to which you decorate your outdoor spaces has an impact on your budget. If you have a small balcony and need a couple of chairs and decor, expect to spend only a couple hundred dollars. If you have a large space in need of big furniture pieces, your budget needs to be larger. For a budget space, settle on a few small pieces for now.

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General Decor: $500 or 5% of your budget

When adding the finishing touches, allocate a fair amount of money to make your space feel like a home. From curtains over the window to wall art and decorative plants, keep a few hundred available.

How To Furnish Your New Home on a Budget

If you’re looking to decorate and furnish on a budget, a few key tips can go a long way. Here is a four-step guide to creating a furniture shopping budget and sticking to it.

1. Determine How Much Money You Feel Comfortable Spending

Before you start purchasing items, the first step is to set a firm budget. The last thing you want is to break the bank. It’s important to be realistic about the expenses of each room and what you can afford, whether you’re outfitting a new home or refreshing your space.

Look at your expenses and how much money you have saved, then set expectations for how much you can spend. It’s recommended to spend no more than 5 to 15 percent of the value of your home for furnishing. Resist the temptation to go beyond the budget. If you’re having trouble being firm with yourself, put your furniture money into a separate account.

2. Choose foundational pieces first

The key to most rooms is in a few foundational pieces. These are usually the largest pieces in the room, and they serve as a focal point around which you can plan the rest of the decor. If you’re missing these foundational pieces, the room may feel empty or incomplete. If you start with the most important items, you can more easily fit them into your budget, and you may not need as many other pieces to make the room feel complete.

For example, when you picture living room furniture, you probably imagine a sofa or armchairs, a coffee table, and maybe a rug. In a bedroom, you envision a comfortable bed, a nightstand, and a dresser or wardrobe for your clothes. Your office or den will have a desk with an office chair or a large bookcase. Prioritize these items and build the rest of your decor around them.

3. Plan a decorating budget

When creating your furniture budget, don’t forget about decor. A room with no decor will feel empty or boring, but even a few carefully chosen pieces can liven up the space and make it feel complete. After you’ve budgeted for your foundational pieces, set aside some of the remaining budget for a few decorative items per room.

The best way to incorporate decor into your budget is to make it do double duty. For example, table or floor lamps provide light and comfort, but a unique design can also make it an eye-catching piece of art. A storage ottoman provides somewhere to keep your extra throw blankets while also serving as a place to rest your feet and legs. A mirror adds light and depth and also helps you get ready in the morning. Even storage bins can be decorative while keeping clutter out of sight.

4. Plan a Decorating Budget

The best way to incorporate decor into your budget is to make it do double duty. For example, table or floor lamps provide light and comfort, but a unique design can also make it an eye-catching piece of art. A storage ottoman provides somewhere to keep your extra throw blankets as well as serving as a place to rest your feet. A mirror adds light and depth and also helps you check your hair in the morning. Even storage bins can be decorative while also keeping clutter out of sight.

5. Create a wish list

With your remaining budget, consider what is most important to you in your furnishings. For example, you may really want a rustic farmhouse aesthetic with reclaimed wood decorations. Or you may have your heart set on a large, sparkling chandelier in your dining room. Perhaps the thing you want most in your home is soft, comfortable bedding or tons of throw blankets and pillows on your living room sofa. Think about what pieces will make your house a home to you and prioritize those.

Your wish list should also include things you know you’ll want or need for practical reasons. If you know you need additional storage in your living room or bedroom, extra dressers or a chest of drawers may be on your wish list. Someone who hosts frequently may need extra dishes or a larger dining table with more chairs. A big family may want a larger sofa, a set of bunk beds to free up space, or enough desks for everyone to work or study comfortably.

Even if you can’t afford everything on your wish list with your current budget, it can help you prioritize what you invest in first. Then you can always check off more items as time goes on and you’re able to set aside more money.

Tips for Staying on Budget

There are a few simple steps you can take to help stay on budget. Having a plan for your shopping journey and investigating prices ensures you get the best deals. Check out our tips below for more tips and advice.

Shop the sale

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Check for budget options

While that walnut hardwood table is stunning, the price tag may be out of budget. Look at budget-friendly options when it comes to choosing big-ticket items. High-quality looks and styles are available in pretty much every price range. When it comes to large spends, filter your furniture search by price. In addition to getting brand-new furniture affordably, you can also be thrifty by buying secondhand from thrift and antique stores.

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Shop for furniture online

You can find some of the best deals and make easy price comparisons online. If you’ve been eyeing a particular piece, shop around and see if you can find a version that is a little more affordable. On furniture.com, you can use our price comparison tool to compare your favorite items.

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Keep an eye out for sales

Once you’ve created your wish list, let them stay in your cart to see if the price decreases or if you get a discount code. If you can wait until the holiday season, there are bound to be great year-end deals. Learn about the best times of the year to buy furniture.

Learn more

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Choose quality over quantity

While it can be tempting to choose the lowest-priced options available, it’s always better to select a few quality pieces that stand the test of time in the long run. Make quality purchases over quantity when it comes to important foundational pieces, such as your bed or mattress.

Stay on Budget With Furniture.com

One of the best ways to lower your furniture budget is to shop on furniture.com. We collect all the best furniture deals in one place to help you find just what you’re looking for at the best possible price. Shop by room, aesthetic, or function, or search for your specific needs.

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