Homeownership rates in the US have hit 67.9%, which is the highest it’s been in several years!
When you get a new house, one of the things that might get overlooked as an essential cost is the furniture. You have to fill a house with furniture to make it a home, but if you’re tight on your budget, this can feel impossible.
How much does to furnish a house today? What are some factors to consider to keep the costs low?
If you need to furnish a house and want to get an estimate on the cost, keep reading as we explain some key details below.
When you buy furniture for a home, you’ll have to get a lot of different pieces, including beds, couches, and tables. However, the cost of these items will vary significantly based on the type of item it is (such as end table vs. dining room table) and the size.
The materials are going to play a factor as well. A leather sofa will cost more than a fabric sofa, for example. Always consider furniture materials that are durable, comfortable, and functional when buying furniture.
If you decide to buy custom furniture, that will run an even higher cost regardless of the type of item it is.
Quality of the Furniture
Keep in mind that the furniture quality is going to dictate cost as well.
If you’re buying something that wasn’t made with the best materials, like plywood instead of solid wood, it will cost less overall. The main reason for this is that it is cheaper to build, so to make a profit, the manufacturer can sell it for less.
To furnish for speed, this may not matter as much. However, if you want to get cheap furniture that’ll last for years and years to come, you’re going to have trouble finding such pieces brand new.
Size of the House
Homes with more rooms require more furniture, which leads to a bigger cost. This is pretty straightforward, but you can still end up paying a lot when furnishing a house with fewer rooms if you go overboard. In general, people will try to spend between 10-50% of their home price on furniture.
Always pay attention to the essentials first and then work from there when you’re furnishing a home for the first time.
Keep in mind that some rooms need more furniture than others. It can cost anywhere from about $5,500 to over $50,000 to furnish a living room for most people. To furnish a bathroom, however, you’re probably going to need much less furniture, so the cost is a lot less.
Options to Pay
Consider the different options that you have for payment when looking at home furniture prices. Some stores will offer discounts, financing, or layaway options. Look at how to buy whole furniture also to get the best deals.
It’s generally not a good idea for long-term financing if you plan to use a credit card, so always make sure that you can really afford the furniture if you decide to go that route.
Similarly, if you decide to take out a personal loan to furnish a house, be sure to look at the interest rates very closely.
You Can Furnish a House on Any Budget
No matter how much money you have available, you can furnish a house. It’s always important to buy your essential furniture items first, like a bed or couch, before you start to splurge on wanted (but not needed) items.
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