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It is often worthwhile to refinish or restore furniture, especially for high-quality, older, antique, or sentimental pieces. Older furniture tends to have better durability than modern, mass-produced items, and refinishing can cost about one-third of the price of replacement. To determine if it's cost-effective, compare quotes from local refinishing services with the price of a new, similar piece. Refinishing can refresh a piece's look and extend its lifespan. However, it may not be worth it for newer furniture made of medium-density fiberboard (MDF) or plywood, or for items with major structural damage. A professional can help you assess the piece and decide on the best course of action.

Doing your own upholstery work is possible, but it’s typically a better idea to leave the work to professionals. Without experience and the proper tools, it’s difficult to get a professionally finished appearance for your furniture, and many DIYers end up spending money on tools and materials only to hire a professional when they can’t get the fabric to look right. If you have reupholstery experience, feel free to give it a shot. However, if you’re not confident in your skill level or you’re working with antiques, it’s worth the money to hire a pro.

Ongoing maintenance of your leather furniture is the only way to prevent it from peeling and cracking. Real leather will peel and crack as it dries out. Leather conditioners are a great way to protect your leather furniture from drying out, and you’ll need to apply it about twice each year. It’s also a good idea to keep abrasive materials away from your leather to prevent cracking and peeling, including belt buckles, shoes, and multi-surface cleaners, especially those that contain alcohol.

It is generally worth repairing leather furniture rather than replacing it, as it is typically more affordable and the material tends to retain its value. A typical repair averages around $250, which is significantly less than the thousands of dollars a replacement could cost. Even a full reupholstering, which can cost up to $4,000, may still be more economical than buying new. With proper care, repaired leather furniture can last for many years, making the investment worthwhile. However, if the underlying structure or frame of the furniture is damaged or malfunctioning, replacement might be a better option. The quality of the leather and the furniture piece are also important factors. For a definitive answer, it is best to consult a leather repair professional to assess your specific situation.