The Best Sleeper Furniture For Under $500, According To Interior Designers

Make no mistake about it: A good-looking piece of sleeper furniture is a goof-proof way to maximize a small space. "When you don't have the option of adding extra beds to a space, convertible sleeper furniture expands the functionality of your home," interior designer Emma Beryl says.

Fortunately, you don't have to break the bank to incorporate a stylish sleeper sofa, chair, or ottoman into a tight space. From convertible lounge chairs to transforming upholstered ottomans and more, designers share their favorite pieces of sleeper furniture for under $500 ahead.

When you're working with limited square footage, interior designer Jenelle Lovings says a compact sleeper sofa with storage is always a safe bet. "I love that this sleeper sofa has storage incorporated into the bed itself," she explains. "You can store all of your bedding within the sofa itself, which saves you much needed storage in your linen closet, if you even have one at all!"

A velvet-upholstered armchair that transforms into both a chaise lounge and a bed can be a game-changer in a small room. "I love this sleeper chair because it doesn't take up a lot of square footage and while it appears lightweight and streamlined it folds out so that you can lie down on it," Beryl says.

Clad in ribbed and tufted velvet upholstery, Lovings says this sophisticated sofa bed is every bit as comfortable as it is stylish. "The channel tufted back and gold legs scream glam," she says. "What more could one want in a sleeper sofa?"

For a budget-friendly alternative to pricey sleeper sofas, interior designer Chris McGovern recommends an extra wide and deep sofa with a folding back that you can set up with sheets like a guest bed. "The back cushion in the sofa folds down, as opposed to a sofa with a full pull-out mattress," he explains. "If space can accommodate, I suggest finding one that's at least 84"W and 34"D."

A midcentury-style sleeper sofa with velvet button-tufting provides a comfortable place to sleep in any size space. "The streamlined design of this sleeper sofa means there's no bulky mattress to deal with," Lovings says. "This style also comes in an array of colors, so it will work with almost any scheme."

A modern hybrid chair with a built-in pillow offers a range of positions — chair, lounger, bed — to ensure maximum comfort and accommodation. "Whether it's placed in a small reading nook or guest room, the chair's compactness is ideal for small spaces," says interior designer Dominique Fluker of DBF Interiors. "And its sleek, contemporary design makes it a great addition to just about any room in the house."

A sleek sleeper ottoman can turn even the smallest sliver of floor space into a bona fide guest bed in seconds. "This is a great solution when you already have a sofa that you aren't ready to part with," Lovings says. "You can just add this ottoman to your existing space!"

A contemporary convertible sofa is perfect for accommodating incoming overnight guests. "This surprisingly sophisticated piece is compact, comfortable, capably cool, and diverse enough to fit into any design vision or layout plan," Fluker says.