How to furnish a house on a budget

There are lots of things to budget for when moving into a new home, whether you’re moving into a rental, or you’ve bought a property. One thing that can be hard to budget for is furnishing your new home. It can be a costly expense if not budgeted for, especially those larger items such as a couch, fridge, and TV.

To help, we’ve compiled a list of things to keep in mind when furnishing a home, and some tips on where you can save money and what should be prioritised first.

What should the priority be?

Essentials should be first on the list. Think about what things you absolutely need to live and decide what things can wait. For example, consider a fridge, bedframe, and mattress first in your budget. Items such as a washing machine and couch could be next. Then after that, things such as a TV, TV unit and dining table can be purchased to make your home feel more complete. Once these are finalised you could move onto the ‘decorative’ things, such as soft furnishings, side tables and lamps – the things that make your house a home.

Splurge on the right things, save on the rest

While it would be nice to buy everything for your home brand new, there’s some things you may be able to scrimp on and things you can splurge on.

Consider purchasing furnishings such as a couch, dining table, cabinets, electrical goods, or bed frames second hand, as this could save you a lot of money. Most of the time a thorough clean and polish is all you need for it to come up as new. You may be able to find some great, well looked after furniture for a fraction of the brand-new price. Keep an eye out on Gumtree or Facebook Marketplace for some bargains.

There are also groups on Facebook such as ‘Buy Nothing’ which provide followers the ability to offer items to others in the group for free. You never know, you may be able to pick up a few things for nothing at all! Don’t forget to check out your local charity shop for household items too. They may not necessarily have large furniture available but many sell items like crockery, utensils, lamps, and other decorative items that can make your house more homely on a small budget.

From all the money you’ve saved from buying those items second-hand, you might be able to splurge on white goods such as a fridge or washing machine. The benefit of purchasing these items brand new could be a warranty, good energy or water ratings, plus the benefit of knowing it should last you a long time.

Furnish one room at a time

Another good idea could be to plan to furnish one room at a time. Have a four-bedroom house but only you and one other person are living there? No worries, just leave those other unoccupied bedrooms unfurnished until other rooms with more of a priority are furnished, like the master bedroom. If there’s two living spaces, furnish one area at a time, especially if you plan to buy two of the same things for each room… the costings will add up quickly!

“Thanks, it’s from Kmart”

If second hand items still aren’t your thing but you still need to keep a tight budget - fear not. There’s lots of stores around that provide some great, fashionable items to furnish your home at a fraction of the price of others. Check out IKEA, Fantastic Furniture, Kmart, Temple and Webster and even Aldi - you never know what will be in the middle aisle!

Before you start to plan your budget for your new home, we can help. Our mymo app is designed to assist you with your finances including budgeting, so you can plan your finances accordingly. It can give you a real-time finance overview and even help you with keeping on top of your upcoming bills!