Here are some figures from the rooms we have recently decorated in our house…
(Note: while most of our major pieces come from either crate & barrel or pottery barn we tend to get accessories from slightly less expensive places like World Market and Pier 1 or Target)
Living Room: Couch, 2 Chairs, Ottoman $3300 (PB), coffee table and end table $200 (Ikea), TV $2k (dont even get me started), TV stand $300 (best buy), curtains, rugs, lamps, picture frames, accessories $600. So thats $6400 for a 14′ by 17′ room. Not to mention it still needs some stuff, not a ton, but some!
Dining Room: Table $250 (World Market), Chairs $1800 (calico corners), Bar $500 (Crate and Barrel), Misc $400 total of $3150 for 10′ x 12′ room.
Office: Desk $500 (PB), small couch $800 (PB), bookshelf $250 (World Market), Rug $500 (C&B), misc $300 for a total of $2050 for a 10′ x 12′ office.
Master Bedroom (not done yet, but priced our for when we are ready) Bed $800 (PB), mattress $900, dressers $2000 (PB), nightstands $600 (PB), Drapes/Rugs/Lamps $1000 (PB) and bedding $350 (PB) which is $5650 for a 14′ x 16′ MBR.
Now we had a lot of stuff in our condo that has become great furniture for our family room, breakfast nook, guest bedroom and basement. I think its about prioritizing. I.E. when we first moved in we bought the living room and dining room stuff right away because otherwise we would have had empty rooms. We have just a mattress/frame and an old dresser in our MBR now until we have saved enough. I think to do it all at once would be WAY overwhelming for me…so I like the gradual approach.
I am at $17k in all the stuff I listed above. Not to mention I am sure other misc. stuff I forgot along the way and we are only talking about half my house. So at our home value of $200k we have spent 10%, I’d say 20% is reasonable for our taste and preferences in furniture.
Obviously there are much more economical ways to furnish a house while looking just as great!