A complete guide to realistic budgets, room-by-room breakdowns, and where to save vs. splurge.
A note from our founder
"I moved into my first home and had absolutely no idea what things should cost. I overspent in some rooms, underspent in others, and wished someone had just given me a realistic number to plan around. I also wished I had a tool to build a furnishing checklist and filter out the very best deals on quality furniture, decor and appliances, all in one place, without scrolling multiple websites. That's exactly why we built this calculator — and MyNewHome."
The Quick Answer
Most first-time homeowners in the US spend between $10,000 and $40,000 to furnish their home, with an average of around $16,000. The wide range is mostly explained by three factors: home size, furniture quality, and whether you're starting completely from scratch.
Budget
$5,000–$12,000
IKEA, Wayfair basics, secondhand
Mid-Range
$12,000–$30,000
West Elm, Pottery Barn, Article
Premium
$30,000–$70,000+
RH, Design Within Reach, custom
Frequently Asked Questions
How much does it cost to furnish a 2-bedroom apartment?
A 2-bedroom apartment typically costs $8,500–$18,000 at budget level, $15,000–$28,000 mid-range, and $28,000–$55,000 for a premium finish. The biggest variables are whether you need appliances and your choice of sofa and mattress.
How much should I save before furnishing my first home?
Aim to save at least $10,000–$15,000 before moving in if you're starting from scratch. You don't need to buy everything at once — prioritise your bedroom, living room, and kitchen first.
Is it cheaper to buy furniture all at once or over time?
Spreading purchases over 6–12 months is often cheaper. You can take advantage of sales (Black Friday, Memorial Day, Labor Day), avoid impulse buys, and only purchase what you actually need once you've lived in the space. Give a chance to refurbished items, especially refurbished appliances as you can save on things that do work and have a warranty, limited warranty but still some warranty
What's the cheapest way to furnish a first home?
Look out for deals on quality furniture! They last longer, have better materials, timeless design, offer better comfort and ergonomics. Spreading purchases help uncover deals on quality furniture so you can very well end up spending the same or less money than someone in IKEA but for unique, timeless and longer lasting pieces. You can splurge on the most visible and important items (sofa, armchairs, bed) and mix them with IKEA basics and secondhand finds from Facebook Marketplace and thrift stores. Focus budget on your mattress and sofa. Avoid buying décor items new — these are almost always available secondhand for a fraction of retail price.
Where should I look out for deals?
MyNewHome is the only place where you can sort by discount % and effectively, in one place, see the most discounted products across multiple retailers for items you need and want. We created this tool because when we were furnishing our first home, se found that it was so overwhelming, time-consuming and stressful to scroll so many merchant websites to find deals or just good furniture at good prices.
Do furnishing costs include appliances?
Usually not. Appliances ($2,500–$9,000 for a mid-range set) are often budgeted separately. Our calculator lets you choose whether to include them in your estimate.