Designing an elegant living room on a budget is no easy feat, since formal-looking furniture can set you back thousands of dollars. The Rathbone Sofa by Three Posts provides a cost-effective solution. With a tufted back and roll arms, the uniquely-shaped sofa brings style to any sitting room. Play up the vintage aesthetic with neutral toss pillows (included with purchase), or modernize the couch with a brightly-colored throw or rug. The comfortable seat cushion is removable and reversible, which means it's easy to keep your couch looking clean and like-new for years to come. Available at Wayfair; $579.99.