So you’ve moved into a new apartment. You’ve signed the lease, you’ve pocketed your new keys, and you’re ready to begin your new chapter. Now it’s time to furnish your new place!
While buying new furniture and home decor may sound like a fun project, it’s not always cheap. We’ve studied the recent trends in furniture prices to identify the most recent data. Keep in mind that there is a wide variety in actual spending based on personal style and budget.
As you plan your furniture budget, let’s take a look at what the average person spends on furniture and home decor.
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Budgeting for the Big-Ticket Items
In the Living Room, the major item you’ll need to buy is a sofa, which can cost $1,024 on average. Next up is the coffee table, end tables and TV stand, all of which will cost about $760. For an area rug, plan to spend about $290. As “The Dude” said, a rug really ties the room together.
For Bedroom furniture, there is a wide variety of price points. In particular, some stats show an average price for a mattress and boxspring at $572, while averages for a high quality mattress put the price at $2,500. Our calculations identify a mid-range mattress costing about $1,536. As to the bedroom set including bed frame, nightstands, and dresser, again there is a big range starting from $1,620 up to $5,500. Our mid-range furniture estimates put the average cost for these bedroom furniture pieces at about $2,050.
When furnishing the Kitchen and Dining Rooms, the dining set will be the big purchase. Expect to spend about $1,118 on a dining table and set of chairs, a price drop from the 2009 estimate of $1,600. While most kitchens will be outfitted with storage and counter space, budget $135 for additional kitchen shelving and storage.
Your Balcony or Patio will also need to be furnished. Buy some weather-resistant furniture for about $470, and plan to spend about $300 to buy a grill.
Spending on the Smaller Stuff
Now that the Living Room is outfitted with a sofa and end tables, the finishing touches on the space will add some style. Buying drapes and a decorative curtain rod will cost roughly $90, depending on the style you choose. Budget at least $10 for decorative plants to make your apartment feel like home.
For the Bathroom, extra storage to keep your towels and toiletries will cost $90 on average. And to add a pop of color, a stylish shower curtain costs about $32.
To turn your Kitchen and Dining Room into useful eating and entertaining spaces, you’ll need to have the tools to cook. Pots and pans are an important part of that, and a starter set costs $180 on average. Also budget $20 to spend on a trash can to keep evidence of your breakfast out of sight when you’re sharing after-work drinks with friends.
Decorating your Balcony or Patio is easily done by adding strings of decorative outdoor lighting, which will cost $30 on average. Next, planting a mini herb garden will cost about $35. It’s an easy way to add greenery to your outdoor space, and the fresh flavors will make your meals taste amazing.
Total Furniture Costs
In total, the average person spends about $8,176 on apartment furniture.
Doing More With Less
Whether you’re moving into a luxury apartment or a basic studio apartment, there are many ways you can do more with less when furnishing your apartment.
For sofa savings, try reupholstering a sofa rather than buying a new one. Reupholstering will cost between $50 and $400, which is a significant savings over a new sofa.
If you want to personalize your style, go indie on your home decor. Shopping on Etsy for some cheap and unique art prints will cost about $36.
Another tip is to invest in your lighting. Good lighting can make that furniture from Target look a little classier. Updating the light fixture covers that came with your apartment will cost $25 to $150, and it’s usually easy to do by loosening a few set screws. Also change your lightbulbs to daylight-balanced LEDs for a cost of $7 to $10 each. The LEDs will save you money on your utility bill, and the daylight-balanced bulbs will prevent your lighting from casting that dingy yellow glow.
For further savings, consider secondhand furniture options by asking family and friends if they have anything to spare. Or rock out to Macklemore while you hit up the thrift shop.
Do you plan to be moving again soon? When furnishing your apartment, it is a good idea to think ahead. If you expect to be moving again in a few years, look for pieces that fold, collapse or disassemble. That way you won’t fall in love with your new furniture only to have to sell it when you move to your next place.
Want more ideas about furnishing your apartment?
Check out our Design on a Budget Calculator. We’ll walk you through the many hardware upgrades and furniture tips for furnishing your apartment. And remember, before doing anything permanent or semi-permanent, be sure to clear it with your property manager.