Changes to materials reduced ‘repairability’
A decadeslong effort to mass produce furniture at a lower cost has led to a decline in quality, overall, experts say.
The rapid expansion of the middle class after World War II made owning a home easier and drove demand for less expensive home furniture, according to CoCo Ree Lemery, a visiting professor of furniture and industrial design at Purdue University.
"We were introduced to plywood. Then we really saw a material degradation," Lemery said of the rise in popularity of the composite material made from gluing together thin pieces of wood veneer.
Medium density fiberboard, which is another form of engineered wood commonly known as MDF, followed, and then particle board, or recycled wood chips fused together, along with synthetic foams and glues to keep production more affordable.
In each case, substitute materials were used to make furniture that was less expensive but also less durable than the solid wood pieces that previous generations bought.
How to find quality furniture
Still, consumers are more likely to prefer pieces that are affordable, even though they may not stand the test of time.
"With the rise of direct-to-consumer, now customers are only buying based on aesthetics and trends," Lemery said. "In that atmosphere, of course you are going to go for the cheapest price tag."
The furniture industry was not immune to supply chain issues brought on by the Covid-19 pandemic, which caused prices to spike due to high demand and low supply.
Best ways to finance a furniture purchase
When shopping around for new furniture, make sure you’re getting a piece for a good value and, ideally, save for it in advance, said certified financial planner Carolyn McClanahan, founder of Life Planning Partners in Jacksonville, Florida.
If you need to spread out the purchase of a big-ticket piece of furniture, consider a no-interest financing deal from the retailer or manufacturer that you know you can pay off within the agreed timeframe.
1. Buy Now, Pay Later: Similar to buying a new household appliance, a Buy Now, Pay Later program can help you spread out the cost of a pricey piece of furniture into monthly payments. Make sure to plan accordingly because if you have more than one BNPL running at the same time, you risk "overdrawing your account," Sara Rathner, a credit cards expert at NerdWallet, recently told CNBC.
2. In-store sales, financing options: Furniture retailers may offer major discounts on certain products for seasonal sales, Rathner said. In-store financing options might also be available, such as layaway programs or retail credit cards with a deferred interest. Make sure you are able to pay off the product by the end of the agreed timeframe. Otherwise, high interest rate fees will stack on top of your dues.
3. Two types of loans: Personal loans can be an option. To qualify, you must have "decent credit," said McClanahan. Unlike personal loans, a secured loan requires collateral to receive the money. It’s similar to buying a car: "If you don’t pay for the car, then [the bank] repossesses your car," she said. In a personal loan, "they can’t reclaim your soul."
Conclusion
In conclusion, the decadeslong effort to mass produce furniture at a lower cost has led to a decline in quality, overall, experts say. To find quality furniture, consumers should do their research, look for signs of good construction, and consider financing options that allow them to pay off the purchase in a manageable timeframe.
FAQs
Q: What is the most affordable option for financing a furniture purchase?
A: Buy Now, Pay Later programs can be a good option, but make sure to plan accordingly to avoid overdraft fees.
Q: What is the best way to find quality furniture?
A: Look for signs of good construction, such as dovetail drawers or solid wood, and research the manufacturer.
Q: How can I finance a big-ticket furniture purchase?
A: Consider a no-interest financing deal from the retailer or manufacturer, or explore in-store financing options, such as layaway programs or retail credit cards with deferred interest.
