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5 things to consider when furnishing a new home

Published on November 19th, 2020
  Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
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Purchasing a new home can have you feeling like a new person altogether. This is truer when it comes to choosing your furniture and signature pieces to stamp every room with your identity. Knowing how to use the space around your home without blowing your budget can come in handy, and we have five tips to equip you with your creative mission.

Know what you can afford

Before you hit up the store or shop for your furniture online it is vital to create a budget. Let’s face it, furniture expenses, if not tracked, can soon run into hundreds of dollars. According to ABS, Australian households spent more than $50 a week on furniture purchases in 2016. Always remember that if you are working on a shoestring budget you can opt for some quality used furniture instead of purchasing everything fresh from the box.

Be creative with less

Getting your essential furniture such as cupboards, couches, and tables is a no-brainer. However, the one mistake that people tend to make is cramming their home with things that it cramps the space. They may also do the complete opposite and leave the space feeling too empty. Knowing how to strike a balance is key. If you have money to afford a designer you could use their services to help you better utilise your home space, and have it feeling more like home instead of an empty office space. However, if you are on a shoestring budget you can research the many design blogs such as Pinterest to give you an idea on how to decorate small and big spaces without blowing your budget.

What do your family needs say?

When it comes to choosing furniture that molds to the home space you are trying to create, your family living will dictate this. It will not make sense to decorate your home with glass finishes and white carpets and couches when you have children as this can become hazardous and easily dirtied. This means choosing a colour scheme, storage space, and features that support the type of family you have is vital.

Consider the style of your home

Whether you are aware of it or not, your home says something about you. Therefore, choose a style and theme that will best compliment the person that you are. You can also compare prices to get the best deal. However, if you are planning on selling your home then keep in mind to keep your home design and colours to a more conservative tone that potential buyer will be able to visualise themselves in.

Choose furniture that will give your home value

There will be some items that will be worth splurging on as an investment to avoid having to replace it in a short space of time. Things such as cabinets in the kitchen that are made from quality finish can add value to your home. As a general rule of thumb you shouldn’t spend more than 2% of your home’s value when it comes to renovations or equipment that will add value to it. Remember to choose furniture that will be easy to maintain and will not get damaged easily. Your future self will thank you for it.

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