This is an age-old argument. Your dated sofa is looking old and worn, the cushions are flat, and the wood on the legs is scratched. You love the style but hate the fabric. The ads for new sofas are tempting...it seems as though you can get a new one and add a matching love seat for less than you paid for the original sofa! So...do you dump your existing one and buy new? NO. Here's why.
Depending upon the fabric you select, you might pay the same for re-upholstering your existing piece than you would to buy a brand new one, but the overall costs are lower.