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I wouldn't view furniture as an investment in the financial sense, more in the lifestyle sense. Financially it's a depreciating asset with a finite life which produces no returns. From a lifestyle perspective, though, it's nice to have things in your home which are comfortable and aesthetically pleasing. So for those reasons, it's worth spending some coin on new furniture which you intend to use for a long time.
That's how I'd play it. Get yourself some nice pieces which will last awhile.
Subject Expert
Are you owning or renting? If you expect to be there for a long time, go ahead and get solid stuff you like that fits the space.
But as with anything, buying secondhand is better for both the environment and your wallet. If you’re just buying a wooden dresser, absolutely worth taking 10 minutes to see if someone is selling a used one in decent condition for 60% of the retail price.
Coach
OP - oh absolutely. When you need the bigger furniture, it can be considered as an upgrade. I actually was pretty much the same when I was younger and had the minimalist NJ apartment (didn't even have a dining table)
I would just hate to toss furniture when I move onto bigger places (yes, I can sell but people flake, not a lot of people look for high quality furniture in NYC, selling packing the same time is stressful, etc.) And needed to buy new bigger furniture. I can't stomach the feeling of tossing perfectly functional furniture 😅
Coach
I only buy new furniture when I need it and not all at once. When my taste change (which happens once a year), I use the opportunity to add / replace a piece of furniture to give my place a different look.
Some second hand furniture is actually nicer than the current Wayfair/Ikea/west elm stuff.
You'll probably move several times. Moving in with a s/o, buying a house, etc. Who knows if what you buy now will work in the new space or be the taste of your future s/o.
But I value aesthetics and if furniture will make you happy in your new apartment, buy new furniture. It's good to have a home that makes you happy.
Eta Definitely buy a bedframe and any other furniture pieces you're missing at least.
Agree with P1. Your bed is used every single day for ~7+ hours, and sleep drives how you feel the whole day, it’s worth a good bed. Similarly, if you watch tv a bit or hang out in the living room or have people over (or whatever uses a couch), it’s worth a nice couch if people will be sitting in it 10+ hours a week
It’s not an “investment” lol. But you don’t need to live like a student, get some nicer furniture if it’ll make your day to day more comfortable and pleasant. The point of FIRE is not to live like a monk.
And goes without saying, I have the cash to purchase it. Just wondering about perspective of people who have chosen to invest and those who havent.
Nice couch and nice bed are the only things worth spending money on.
I upgrade one area at a time, so when I enter the space it makes me smile.
An area can be as small as a reading nook, or as large as a kitchen remodel.
Personally, my rent is so low that anything within reason that will make the place more comfortable is worth the money. Also consider if you have a better home set up you’ll be less likely to spend money outside of your house. And you can always get great deals on FB market place!
Mentor
About 7 yrs ago we bought a wonderfully made (dovetailed drawers, stamped) full bedroom set (cal king bed frame, lg dresser, nightstands, lg armoire) for about $3500 off craigslist. Felt like splurging at the time but we've been SO happy with it. It's held up so well. Should the rest of our lives - or until we pass it on or even resell.