How to Furnish a Living Room on a Budget: 6 Easy Steps

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Furnishing a living room can often be a costly endeavour, whether you’re doing it for the first time or simply looking to refresh an outdated design. The cost of a complete living room setup—including seating, occasional tables, an area rug, and decor—can range from $10,000 - $15,000. However, with strategic planning and some creative thinking, you can furnish your living room beautifully without breaking the bank.

At La-Z-Boy, we are renowned for our high-quality upholstery and stylish living room furniture. Our interior designers, such as Mary Lee Smyth from our Kingston location, frequently advise clients on budget-friendly ways to create stylish and personalized living spaces. 

In this article, we’ll share six effective tips for furnishing your living room on a budget and explore how to revamp your space without purchasing new furniture.

Key Takeaways

• Set a realistic budget and stick to it.
• Create a prioritized shopping list and purchase items over time.
• Take advantage of promotions and sales to maximize your savings.
• Invest in multifunctional furniture pieces.
• Opt for timeless styles and maintain a consistent colour palette.
• Don’t compromise on quality—invest in durable pieces.

In this article ...

1. 6 Ways to Furnish your Living Room on a Budget
2. How to Revamp your Living Room WITHOUT Buying New Furniture
3. Affordable Living Room Furniture at La-Z-Boy

6 Ways to Furnish Your Living Room on a Budget

1. Identify your Budget and Stick to it

Mary Lee suggests that the first step in furnishing a living room on a budget is to set a realistic budget. Once your budget is determined, commit to sticking to it. While shopping, it’s easy to get sidetracked by tempting new items. However, keeping a clear focus on your budget will help you avoid overspending.

2. Make a Shopping List

Creating a detailed shopping list of everything you need is essential. Prioritize the list based on your needs rather than desires. A typical living room shopping list might include:

• Sofa
• Accent Chair
• Coffee Table
• Side Tables
• Lamp
• Area Rug
• Window Coverings
• Artwork & Decor

Consider repurposing existing items to save money. For instance, incorporate old favourites that still work well with your new design. 

Once you have your list, prioritize items based on importance. Mary Lee recommends starting with a focal piece, like a sofa and gradually purchasing the remaining items as your budget allows.

3. Take Advantage of Promotions

Given that living room furniture can be expensive, make the most of furniture promotions and sales. 

Many sales occur throughout the year, but the best time to find affordable furniture is during the “Summer Slump” in July. 

Retailers often discount furniture heavily to clear space for new inventory coming in August. By this time, most people have recovered from holiday spending, making it easier to capitalize on deals.

4. Invest in Multi-Functional Pieces

To maximize your budget, consider purchasing multi-functional furniture. Items that serve multiple purposes reduce the need to buy additional pieces, saving both space and money. Examples of dual-purpose living room furniture include:

Coffee tables with storage compartments or lift-top designs.

Ottomans that can function as both a footrest and a storage unit.

Sleeper sofas that provide seating during the day and transform into a bed at night.

5. Choose Timeless Styles & Create a Consistent Colour Palette

To ensure your investment lasts, opt for furniture with timeless styles and neutral colour palettes that won’t go out of fashion.

Choose one or two colours and stick to them when selecting furniture. This approach not only saves money in the long run by preventing frequent updates but also helps create a cohesive and harmonious look.

6. Don't Skimp on Quality

While staying within budget is important, Mary Lee emphasizes not sacrificing quality. 

Poor-quality furniture may save money upfront but can cost more in the long run due to frequent replacements. Investing in well-made, durable pieces—especially for heavily used items like a sofa—ensures they will last for years, offering better value over time.

How to Revamp Your Living Room WITHOUT Buying New Furniture

If your living room is already furnished but feels tired or outdated, consider these cost-effective strategies to refresh the space without purchasing new furniture:

Rearrange Your Furniture

Before investing in new pieces, try rearranging your existing furniture to give your living room a fresh look. This simple and fun approach can transform the feel of your space without costing a dime.

Ship in Your Home

Instead of buying new furniture, “shop” around your home. Look for pieces in other rooms that could work well in your living room. For instance, a neglected chair from the bedroom might be perfect as an accent chair in the living room. If a piece doesn’t match your colour scheme, consider painting or staining it to blend seamlessly with your existing decor.

Revive Old Furniture with Reupholstery and New Cushions

Consider reupholstering old furniture to give it a new lease on life. Reupholstering can be less expensive than buying new and allows you to choose a fabric that matches your updated style. Additionally, adding new throw pillows can refresh the look of your existing sofa or chairs, introducing new colours or patterns to the room.

Update the Walls and Decor

A living room isn’t just about the furniture; the walls and decor play a significant role too. Consider updating your walls with new paint, artwork, or even a gallery wall with photos. Adding new decor elements such as an area rug, drapery, or greenery can also breathe new life into your living room.

Affordable Living Room Furniture at La-Z-Boy

At La-Z-Boy, we pride ourselves on offering high-quality and comfortable living room furniture. While our products are typically mid to high-end, we understand the importance of catering to various budgets. 

Therefore, we offer affordable options through ongoing promotions and financing options.

To continue your journey toward an affordable and stylish living room, consider exploring various resources and options available.

 Whether you're just starting to plan or are ready to make purchases, staying informed on the latest promotions and design trends can help you make savvy decisions. 

Additionally, consider consulting with professional designers who can provide personalized advice to optimize your living space within your budget. With the right approach and guidance, you can achieve a beautiful living room that reflects your style without overspending.

At La-Z-Boy, we have interior design services available. To learn more about What to Expect from our Interior Designer Services, take a look at this article.

What's Next?

Now that you’re equipped with these budget-friendly tips, it’s time to start furnishing your living room! Visit a La-Z-Boy showroom in Ottawa or Kingston, or schedule an appointment online to begin your journey toward a beautifully furnished living room that doesn’t break the bank.

If you’re interested in any of these trendy ideas, there is no better place to start than by talking to an interior designer. La-Z-Boy has expert interior designers eager to lend a helping hand with your home design

For more inspiration and information on our furniture, take a look at our comprehensive La-Z-Boy Furniture Guide for more.

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