In today's tough economic climate, deciding where the money goes takes a little more time than it usually would if the situation weren't so gloomy.  In some cases home expenditures become a necessity, forcing homeowners to decide whether it's wiser to completely renovate or just repair for the time being.

Most homeowners would find it easier to just do an entirely new renovation than pay for a repair which, depending on the item(s) being repaired can come at a considerable cost.  While it's important to try and save where possible, renovating as opposed to repairing could actually be worse since there's a possibility of lesser quality materials being used.  Materials of lesser quality mean that the item they're being used on won't last as long and as a result, they'll need to be replaced sooner.

This isn't to say that all materials are generally of lesser quality.  Other common household components like heaters and air conditioning systems are dramatically more efficient than those of the past which were known for using up lots of electricity.  Just remember that during the real estate market boom, builders were more concerned with getting homes built to meet demand more than they were with the quality of materials that were actually being used.

Since money may be the deciding factor when it comes to choosing to renovate or repair, consider how it will affect the living situation.  If repairing furniture will actually improve living conditions then it makes sense to spend the money but if it's just for cosmetic purposes than it might be a wiser choice to just wait it out and focus instead on what's necessary.