The real value of a Murphy bed depends on a number of factors, including the size and quality of the bed, the materials used, and the features included. However, in general, a Murphy bed can save you money in a few ways:
Space savings: A Murphy bed can free up valuable floor space in a small apartment or home. This can be especially beneficial if you live in a studio or loft, or if you have a guest room that you only use occasionally.
Reduced remodeling costs: If you don’t have a spare room, you may need to remodel your home to create one. This can be a costly and time-consuming process. A Murphy bed can eliminate the need for remodeling, saving you money in the long run.
Increased resale value: Some studies have shown that Murphy beds can increase the resale value of a home by up to 5%. This is because Murphy beds add functionality and versatility to a home, making it more attractive to buyers.
Here is a breakdown of the potential savings of a Murphy bed:
Space savings: The average Murphy bed takes up about 35 square feet of space when it is in use. If you were to convert this space into a traditional bedroom, it would cost you an average of $100-$300 per square foot to remodel. This means that you could save between $3,500 and $10,500 by installing a Murphy bed instead.
Reduced remodeling costs: If you were to remodel your home to create a spare bedroom, it would cost you an average of $15,000. By installing a Murphy bed, you could eliminate these costs and save $15,000.
Increased resale value: As mentioned above, some studies have shown that Murphy beds can increase the resale value of a home by up to 5%. This means that if you sell your home with a Murphy bed, you could potentially get an extra $5,000 for it.
Total potential savings: The total potential savings of a Murphy bed can vary depending on the specific circumstances. However, in general, you can expect to save between $3,500 and $20,500 by installing a Murphy bed instead of remodeling your home or buying a new house.
Of course, there are also some costs associated with owning a Murphy bed. You will need to pay for the bed itself, as well as for installation and maintenance. However, the overall savings of a Murphy bed can be significant, making it a worthwhile investment for many people.
Here are some additional factors to consider when deciding whether or not a Murphy bed is right for you:
Your lifestyle: If you have frequent guests or often need to use the space for other purposes, a Murphy bed can be a great option. However, if you rarely have guests and don’t need the extra space, a traditional bed may be a better choice.
Your budget: Murphy beds can range in price from a few hundred dollars to several thousand dollars. It’s important to factor in the cost of the bed, installation, and maintenance when making your decision.
Your preferences: There are many different styles and features available when it comes to Murphy beds. Take some time to explore your options and find a bed that meets your needs and preferences.
If you’re considering a Murphy bed, I encourage you to do your research and weigh the pros and cons carefully. With a little planning, you can find a Murphy bed that is both affordable and functional, and that will save you money in the long run.