HHI and what you spend on furniture?

[Anonymous]

OP, if you really love decor and have a 470K HHI, you are probably not going to be happy with 30K unless you are furnishing a 1 bedroom apartment.

A decent dining room table will cost a couple K (really more if you want a serious solid wood piece that seats 10 or more and will last), so will the chairs, throw in lights you'll want 1-2K or more if you need a chandelier.

If you have time to shop a lot you can probably save,but especially if you have taste in nice art or rugs, 30K is really extremely low for your income bracket and tastes.

We have a 400K income, no debt or car payments and recently spent about 8-9K for our foyer (we have a big house). That was a splurge, but really, I expect to refurnish the whole house would be significantly more than what you are quoting. That said, it also depends on how casual your taste is. We have a formal foyer and dining room, but to do the whole playroom is going to be less than $2k unless I splurge a lot on the couch.

Don't set out to spend massive amounts, but if you can afford it and it will make you happy, why would you go crazy trying to spend less? You also don't need to do everything at once if you have old things that will make do for a while. It's probably good to wait a bit in a new house as well so you can see what will work for you.

[Anonymous]

$22k PP here. I forgot that I also got two 6-foot, solid maple bookcases for that amount. My desk, though, is from the Container Store! I also inherited some MCM pieces that work well with the R&B.

[Anonymous]

Anonymous wrote:$500k and we spend as little as possible.

Some ikea, some C&B, some local craftsman.

This is us. I have moved too many rich relatives (actually, helped them consolidate) to know that in the end (literally), furniture is not a priority. Once you have to deal with estate sales, or significant family losses, it all falls into proper perspective. It seems like the ones who have to have this, or have to have that, are usually trying to overcompensate for growing up poor, or a far worse situation. With all of our money, furniture is definitely NOT considered a wise "investment".

[Anonymous]

Anonymous wrote:

Anonymous wrote:$500k and we spend as little as possible.

Some ikea, some C&B, some local craftsman.

This is us. I have moved too many rich relatives (actually, helped them consolidate) to know that in the end (literally), furniture is not a priority. Once you have to deal with estate sales, or significant family losses, it all falls into proper perspective. It seems like the ones who have to have this, or have to have that, are usually trying to overcompensate for growing up poor, or a far worse situation. With all of our money, furniture is definitely NOT considered a wise "investment".

Nice try at analysis Dr Freud. Many wealthy people (especially those with multi generational wealth)
have quality art and furniture that they hand down or send to Sotheby's when they downsize or pass. Some of us like nice surroundings an furnishings.

[Anonymous]

Anonymous wrote:OP, if you really love decor and have a 470K HHI, you are probably not going to be happy with 30K unless you are furnishing a 1 bedroom apartment.

A decent dining room table will cost a couple K (really more if you want a serious solid wood piece that seats 10 or more and will last), so will the chairs, throw in lights you'll want 1-2K or more if you need a chandelier.

If you have time to shop a lot you can probably save,but especially if you have taste in nice art or rugs, 30K is really extremely low for your income bracket and tastes.

We have a 400K income, no debt or car payments and recently spent about 8-9K for our foyer (we have a big house). That was a splurge, but really, I expect to refurnish the whole house would be significantly more than what you are quoting. That said, it also depends on how casual your taste is. We have a formal foyer and dining room, but to do the whole playroom is going to be less than $2k unless I splurge a lot on the couch.

Don't set out to spend massive amounts, but if you can afford it and it will make you happy, why would you go crazy trying to spend less? You also don't need to do everything at once if you have old things that will make do for a while. It's probably good to wait a bit in a new house as well so you can see what will work for you.

This is the OP. Thanks. I appreciate your post. We are similar in terms of no debt, etc.

[Anonymous]

IKEA, old stuff from grad school, Bassett, Crate and Barrel. Against my inclination we just dropped about $20k on a beautiful dining table, chairs and hutch from Stickley (if you like that style, OP, it's made in the USA and are meant to last for ages). On average, we spend $1-2k per year but we buy sporadically.

Have fun, OP! If you're starting from almost scratch then $30k may be a little low if your new house isn't small.

[Anonymous]

HHI of 200k. Most of our furniture is ikea, used, and vintage. The most I have spent on a single piece was 900 on a scan teak sideboard type thing (vintage) and another 900 on a sofa (rowe) but the latter got trashed from kids. I am lusting after a huge, gorgeous danish teak dining table and chairs (2100) but the idea of kids defacing it has stopped me. Recently I spent 3500 on a small painting--a total splurge but it was for a significant milestone birthday for DH.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$1M+HHI. About $300k furnishing.

But I think the better question is what percent of the house value did you spend ( based on the date of furniture acquisition)

How many sq ft is your house? Did you but everything retail (for ex, Baker in Georgetown) or also buy things in places like North Carolina?

Nearly all retail. A designer found it all.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$1M+HHI. About $300k furnishing.

But I think the better question is what percent of the house value did you spend ( based on the date of furniture acquisition)

How many sq ft is your house? Did you but everything retail (for ex, Baker in Georgetown) or also buy things in places like North Carolina?

Nearly all retail. A designer found it all.

10000 square feet

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$500k and we spend as little as possible.

Some ikea, some C&B, some local craftsman.

This is us. I have moved too many rich relatives (actually, helped them consolidate) to know that in the end (literally), furniture is not a priority. Once you have to deal with estate sales, or significant family losses, it all falls into proper perspective. It seems like the ones who have to have this, or have to have that, are usually trying to overcompensate for growing up poor, or a far worse situation. With all of our money, furniture is definitely NOT considered a wise "investment".

Nice try at analysis Dr Freud. Many wealthy people (especially those with multi generational wealth)
have quality art and furniture that they hand down or send to Sotheby's when they downsize or pass. Some of us like nice surroundings an furnishings.

HUH??!!

Were you there when we moved an have had estate sales????? Funny, I don't recall seeing you there

Wow. Weird posters on this site. Some people do not define their wealth by their belongings. We happen to live in a big, new house (does the get your goat, too??) but drive old cars and have furniture that looks pricey but is not. Priorities, people.

Wow.

[Anonymous]

Anonymous wrote:
We have one or two expensive looking pieces, but nothing over $1000. HHI $500k.

Wow. How much do you spend on your sofa and beds? Our mid-range crate and barrel sofa was still about 3K.

[Anonymous]

Pp here.... I tend to notice that a lot of people have nice looking houses on the outside and spend good money....but the inside looks like crap...this is what I've surmised from my real estate porn addiction and looking at homes for sale online over the last 5 years. Why spend a ton of money on a house...and not put a little extra into thoughtfully furnishing it. It doesn't take a lot of money to make the interior look nice. I get that some don't care, don't have time etc. ...I'm just puzzled by the expensive nice looking houses on the exterior with the moldy brown couches within.

[Anonymous]

PP, I am similarly unimpressed (and actually sort of put off) by glitzy addresses with interior decor that sort of screams "Marriott!" Or model home, maybe? Zero personal touches, as if they don't really live there. Gives me the creeps. I am thinking of a home in Foxhall, FWIW.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$500k and we spend as little as possible.

Some ikea, some C&B, some local craftsman.

This is us. I have moved too many rich relatives (actually, helped them consolidate) to know that in the end (literally), furniture is not a priority. Once you have to deal with estate sales, or significant family losses, it all falls into proper perspective. It seems like the ones who have to have this, or have to have that, are usually trying to overcompensate for growing up poor, or a far worse situation. With all of our money, furniture is definitely NOT considered a wise "investment".

Nice try at analysis Dr Freud. Many wealthy people (especially those with multi generational wealth)
have quality art and furniture that they hand down or send to Sotheby's when they downsize or pass. Some of us like nice surroundings an furnishings.

I'm the original PP here and we do like nice furnishings - we just try not to spend too much for it. We do also appreciate local furniture builders and original art. But we don't consider ourselves wealthy - not Sotheby's wealthy at least.

[Anonymous]

But we don't consider ourselves wealthy - not Sotheby's wealthy at least.

OP, your HHI is 470k. You are 36k away from being a 1% er--and you don't consider yourself wealthy? I never cease to be amazed at how many incredibly wealthy, privileged people here simply don't feel wealthy. Perhaps because the biggest growth in income disparity over the last 20 years is not ONLY the top 1 percent and the rest, but also between the top one tenth of one percent and the rest of the one per centers.