When to Save and When to Splurge on Home Furniture

When buying home furniture, you can either save or splurge, depending on which piece you are getting

Are you thinking of redecorating your home? You cannot stand the feeling of sleeping on the same bed for years, not to mention the creaky mattress? Also cannot look at your dining table, once an accent piece has now succumbed to aging? You nod your head at all the questions and decide it is finally time to switch it up and shop for new home furniture.

But your budget is just not enough.

The bed you want is nearing six-digits; you can afford to buy only six dining chairs instead of eight. You cannot find the same design for the floor tiles you bought many years ago and would have to refurbish the flooring.

But you have a budget to work with. This means you have saved enough money and can afford to redecorate. You just need to splurge on some items and save on the rest. Here are tips on when to save and when to splurge on home furniture.

When Should You Save?

1. If the Furniture Is Seasonal

Easter, Halloween, and Christmas decorations—you only use them once a year. It would be wise to save on these and opt for the more affordable choices. Also, save on ornamental items (read: candles, fruit bowls, etc.) you only use a few months in a year. Choose the thriftier than premium ornament options if you can do without them at home.

2. If the Item Is Not an Accent Piece

Non-accent pieces serve a secondary purpose, such as side tables, curtain rods, light switches, storage bins, and the like. These items rarely become the main feature of any room, so it is best to save on secondary furniture and splurge on the primary ones, such as dining tables, a sofa, and bed frames.

3. If the Item Is Not a Necessity

If you are on a budget, save on items that are not a necessity. This could be your welcome rug, your throw pillows, and your nightstand. If your budget cannot accommodate these purchases, then forego them and instead spend on things that your home really needs.

When Should You Splurge?

1. If the Furniture Affects Your Productivity

Spend on items that will make you more productive. Treat yourself to a premium mattress to experience a good night’s rest if you are always on the field during the day. Splurge on an ergonomic computer chair if you are a work-from-home freelancer. You can also install an air-conditioning unit in your home office instead of using just a fan to stay more productive and focused.

Lee Kuan Yew, the founding father of Singapore, credits air-conditioning to improving work efficiency. He once said: “Without air conditioning, you can work only in the cool early morning hours or at dusk. The first thing I did upon becoming prime minister was to install air conditioners in buildings where the civil service worked. This was key to public efficiency.”

2. If the Item Is an Investment

Quality rules over quantity in some instances. Opt for the more premium item if it fits the following criteria: you have an emotional connection with it, the craftsmanship is hard to match, and you can see the furniture standing the test of time. Some furniture pieces from notable designers or those made from hardwood even have a higher resale value.

3. If the Item Serves More Than One Purpose

This is like getting two or three for the price of one, which is practical because living spaces are becoming smaller yet more expensive.

In Metro Manila, there are studio apartments with a floor size of 30 sqm (or smaller). This means you have to fit as much functionality in as little space as possible. There are living room couches that double as a bed and coffee tables with armrests that can turn into bookshelves. Some dining chairs can turn into a storage cases as well.

How Much Do You Expect to Spend?

Here are some price ranges of different furniture pieces to fit your budget:

Bedframe*
Low: Php12,000–25,000
Medium: Php30,000–100,000
High: Php120,000–600,000

Computer Chair*
Low: Php3,000–5,000
Medium: Php8,000–15,000
High: Php20,000–80,000

Dining Table*
Low: Php12,000–25,000
Medium: Php30,000–80,000
High: Php100,000–500,000

Dining Chairs*
Low: Php3,000–5,000
Medium: Php10,000–15,000
High: Php20,000–30,000

With a budget at hand, you’re ready to redecorate your home without breaking the bank.

*Range of furniture prices is from Blims Fine Furniture, BoConcept, Crate & Barrel, Dimensione, The Furniture Bazaar, SM Department Store, and MC Home Depot.

This post was contributed by MoneyMax.ph.

Main image via Shutterstock