I have lived in New York City since I was 18, which means my friends and I have gone through being early in our careers and broke, then slowly acquiring more money (and space!) together, moving incrementally into slightly larger apartments every few years.
Space-saving furniture has been around in many forms during the brokest, most cramped eras of my adulthood, and while I can't recommend you renovate your entire bedroom to accommodate a Murphy bed (although they are cool as hell), I can point to a few really unique pieces that will save you some room, even if you're not a ramen-eating 21-year-old anymore. Making some space-saving swaps can make your entire home tidier and more livable, plus there are some pretty elegant-looking bits of furniture out there that fit the bill.
Space-saving kitchen furniture
First, I must recommend my absolute favorite space-saving furniture of all time: The wall-mounted, foldable table. I first saw one of these bad boys on a trip to Ikea in 2015. I bought it on sight, took it home, and installed it that night, eliminating the need for a big table taking up all the precious floor space in my little kitchen. It was similar to this:
What I loved about this was that it folded down to the wall when it wasn't in use, but there was still a ledge that stuck out a few inches, so I could keep salt, pepper, and other necessary knickknacks on it whether the table was up or down. It was sturdy and I never had any issues applying too much pressure on it. Ikea no longer sells the exact one that I had, but it does sell a similar version for $109.99 with a storage shelf above it, which would hold even more condiments and knickknacks than the ledge I relied on back in the day.
These foldable tables would work well in a living room, a kid's room, or a home office. It works in a kitchen, of course, but only if you don't plan on hosting large meals for multiple people; only two people could ever eat on mine at the same time. If you want a space-saving table but have a larger household, try something like this:
The leaves on this table fold down, reducing it in size significantly and leaving just the middle part, which is full of storage drawers. You could put your plates, utensils, and dinner items in the storage section and fold it out only when it's time to eat.
Space-saving bedroom furniture
You already know I think Murphy beds are tremendously cool, but that's a major renovation project in most cases. You can get fold-away beds that retract back into cabinet-looking things, but those can be pricy, up to about $1,000. In addition to being expensive, that still leaves a big honking cabinet in the room, which isn't tremendously space-saving. You're better off getting something more multifunctional, like this fold-down bed that features storage compartments all around it, so you're using it not only to sleep, but to manage all your smaller items.
You can, of course, go with a more classic standby, like a couch that turns into a bed. One like this, for $299, is on the more affordable end.
I'm also not off my foldable table soapbox just yet. For the bedroom, consider one that is designed to be a desk, with a built-in light and storage, so it's perfect for studying, reading, or working on personal projects—but folds back to the wall when you're not doing any of that.
Other space-saving furniture
The kitchen and bedroom are important for saving space, but that doesn't mean you have to stop there. Look at this table that retracts out of a shelving unit and tell me it wouldn't be a lifesaver in the laundry room, where you could store detergent and cleaning items in the shelves and use the table when you need to fold or iron clothes:
Once you start looking for creative pieces, the possibilities are endless. Try a coffee table that contains secret storage, and converts, thanks to some clever hinges, into a desk or table that reaches you on the couch. Use slim shelving carts to make use of the small spots in your bathroom and kitchen, turning wasted space into storage and organization. Nesting end tables provide more surface space when you need it, but disappear when you only need a little. You can even get your kids in on the action with a tiny play table that has seats with storage containers that fit perfectly under the tabletop when not in use.
Space-saving furniture has come a long way, so even if you're not trying to make it work in a tiny home, you can still have a tidier, more put-together house that serves your needs in the moment.