Let’s not focus on what you “should” spend, but instead what you are comfortable with. I like to call it value engineering- we can mix higher end items with lower end items- it all depends on where you want to invest your money. For instance if you like to entertain people and often have movie nights, I would suggest putting more a focus on a comfortable sofa and seating arrangement and less on accessories or art- we can find some great options at a fraction of the cost. Or if you like to surround yourself with well curated accessories, we can put more focus on these items, and less on the furniture in the room.
Now what would you feel comfortable investing into the purchase of your sofa? $10,000? $6,500? $3,000?
*** go through each item in the room- keep a running budget list going. Once you have gone through all large items in a room, add up all items- this is now your rough budget.***