I found this great article which emphasized looking at your existing furniture when you get the urge to change out your decor and am highlighting some of the ideas described in that article (full article).
The principles described are:
Re-Purpose - Avoid thinking that certain pieces of furniture only work in one setting or have only one type of functionality. I love the repurposing of an out-of-date media center into the great play kitchen above (see Details).
Re-Use - The author provides some quick examples which illustrate this principle:
Re-Finish - Simply painting a piece of wooden furniture can give it new life. I have just started using Annie Sloan Chalk Paint and will continue to experiment with this method. In my youth, I did a lot of furniture stripping and refinishing and heartily recommend it for those who have the time and patience. I found this article very helpful link to article about stripping woodwork shortcuts.Covering a sofa with a slipcover might be the easiest way to update your couch.
Dining room chairs are easily recovered with fabric and a staple gun or small nails.
Cut the legs off a taller table to make it a shorter coffee table or a play table for a playroom.
Add castors to a trunk or suitcase to make a rolling coffee table. Or add castors to a bedside table to make a small kitchen island.
Take drawers out of a chest and use them as shelves. Then, add a tension rod and curtains to the dresser for a different look.
Add fabric or wallpaper to the backs of bookshelves, or as curtains if cabinet doors are missing.
Here's another example using all the principles - re-purpose, re-use and re-finish - I am not crazy about the results for me but can easily envision it in a playroom or foyer. It is, however, a brilliant idea! DIY Bookcase from Country Living Magazine