12 Tips for Designing and Styling a Luxurious Living Room on a Budget (2024)

Decorating

Kristin Hohenadel

Kristin Hohenadel has written on design for publications including the New York Times, Interior Design, Slate, Fast Company, and the international editions of Elle Decor.

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Updated on 01/19/24

12 Tips for Designing and Styling a Luxurious Living Room on a Budget (2)

A luxury living room combines custom finishes, furniture, lighting, and decor to create an elevated and comfortable look and feel. Defined by an attention to quality, detail, and refinement, these polished spaces can encompass a range of color schemes and design styles.

Whether you are looking to put the finishing touches on a spacious upscale living room or want to make a modest space feel more sophisticated, check out these luxury living room ideas for inspiration.

12 Luxury Living Room Design Ideas

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Embrace Quiet Luxury

Embrace quiet luxury with a minimalist approach to color, furnishings, and decor. Chango & Co. let the high ceilings, double-height windows, and abundant natural light take the lead in this serene living room. Windows are left bare to reinforce the connection to the private outdoor landscape.
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See Also
What is minimalist interior design style?Modern Minimalist Interior Design: Ultimate Guide (2023)Why Is Minimalism So Popular? - Hip Diggs Maximalist vs Minimalist - Woodgrain
Channel Midcentury Glamour

Turn a midcentury modern living room into a chic entertaining space with a full-height home bar worthy of a boutique hotel. Louis Duncan-He Designs gave this 1950s home living room a moody makeover with dark furniture and rich wood finishes that emphasize the clean lines of the architecture.
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Lacquer the Walls

A custom wall paint finish will add character to a modern living room. Forbes + Masters combined lacquered cobalt blue walls with a pair of modern chandeliers, an ornate gilded mirror, and plush textiles to add Hollywood Regency-style glam to this contemporary living room.
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Add a Custom Fireplace

Channel the luxury of an upscale chalet in the Alps with polished wood finishes, contemporary furniture, and a statement fireplace.
WRJ Interior Design outfitted this living room at the base of Jackson Hole Mountain Resort with a chic Danish-inspired metal fireplace hood to create a focal point. A wall of glass doors and windows brings in natural light and a lush treetop view.
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Choose a Statement Sofa

Anchor a spacious living room with a statement sofa that oozes modern luxury. Sissy + Marley Interior Design floated a double-sided, extra deep sofa in the middle of this light and airy New York City highrise living room. A pale neutral palette keeps the focus on the sweeping city views from the supersized picture windows.
Tip
Space and light are the ultimate modern luxuries. Maximize natural light and views of the outside, and choose a well-edited selection of furniture and decor to maintain an airy feel in your living room.
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Hang Large-Scale Art

Hang large-scale photography or art on the walls to add drama to a luxury living room. Caroline Andreoni Interior Design created an off-center focal point in this chic and symmetrical Paris living room by hanging a large black-and-white photo. The bold art adds contrast with the antique fireplace and mirror to modernize the classic bones of the room.
See Also
5 ‘common’ bedroom mistakes to ‘avoid’ a ‘cheap and tacky’ aesthetic
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Decorate the Ceiling

Decorate the fifth wall with paint, wood detailing, or wallpaper to give your living room a pampered feel. Mary Patton Design contrasted the coffered ceiling, crowned moldings, and decorative fireplace with a mix of antique and modern furnishings and art. A grand piano and a pair of matching curvy velvet sofas add a luxe touch.
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Hang a Wallpaper Mural

Give a smaller living room a sense of luxury by wrapping the walls in a hand-painted wallpaper mural, like this elegant space from Marie Flanigan Interiors that is decorated with a landscape scene for a timeless look.
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Accent With Gold

Channel Hollywood glam with striking gold accents on lighting, accent furniture, mirrors, and decor. Kendall Wilkinson Design chose a bold pendant light and a pair of wall sconces that stand up to the Barbie pink walls of this luxurious San Francisco living room.
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Use Lighter Wood Tones

Caroline Andreoni Interior Design modernized this Haussmannian living room in Paris with unpainted oak paneling. Contemporary furniture and decor in a range of shapes and materials adds texture and a sophisticated play of old and new.
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Elevate Rustic Style

Elevate a farmhouse-style living room to create a modern rustic feel that is equal parts cozy and luxurious.
Marie Flanigan Interiors decorated this open-plan space with understated neutrals, a mix of wood finishes, and statement lighting that highlights the high ceilings, exposed beams, and generous volumes of the room.
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Celebrate Original Features

Celebrate original details like decorative windows to give your living room a custom feel. Kendall Wilkinson Design decorated this formal living room with soft pink drapes to highlight the bank of leaded glass windows, finishing the space with contemporary furniture and soft gray tones.