It’s hard to avoid mentioning the state of the economy these days, but why not make the best of it? Most of us have been downsizing our ways of spending in many different ways, and sometimes our living space can suffer. Here are 15 unique pieces of furniture that will help you upgrade and streamline the place you call home.

Back to Basics

(images via made in design, Stone Design)

Simplicity. The cube has been a great inspiration to space-saving living and the CUB8 is a classic example of this concept. It’s a clean, extendable coffee table with vast space. It even comes equipped with an integrated CD/DVD hanger. The SelfService furniture unit is an easy way to wine and dine in any small space. It accommodates four comfortably and the low seats slide right back into the table when the night is over.

Compact Dreamland

(images via BedUP, Lift Bed, bonbon)

Studio apartment getting you down? The BedUP bed and the LiftBed will allow you to lift your bed (either manually or electronically) to transform your space, and can save about 12 square feet. You don’t have to lower it completely, so you can keep your other furniture in place neatly underneath. Now, if only they installed the Lollipop bunk bed system in dorms! This amazing bunk bed can be hidden into the wall or you can opt to leave one unfolded to pull double duty as a couch.

Let’s Go Couchsurfing

(images via Phillipe Malouin, Nicole Lehner & Luzia Kalin, blofield)

So you have company over, but need some options for extra sleeping space? Look nofurther than these couchsurfing alternatives. The Tent Sofa creates privacy with folding panels once transformed into a bed. Stay At My Home is an all in one package that allows you to provide a simple, comfortable sleeping option for your guest with a mattress, removable drawer, pillow, bedside lamp and carpet. This all fits in and around the side table pictured. Inflatable mattresses are so passé. Get an inflatable sofa instead. The Blofield Inflatable Chesterfields Sofa is constructed from the same material used in life rafts, which says something about its durability. You can use it as a permanent fixture in your place, or simply blow it up in less than five minutes for an overnight guest… or take it floating?

No Musical Chairs Here

(images via ontwerpers, unicahome, gioia design, dedon)

The Cabinet Chair by Ontwerpers is quite crafty. Reminiscent of my school days, this chair is imbedded into the surrounding shelf. It even has a built in monitor and keyboard. A wonderful, eyecatching table set that doubles as a light, the Corral Table and Bronco Stool comes with 7 seats that fit snugly into the table’s design. Going along with that theme is the Monolith steel table that transforms into a sleek sculpture when not in use. I wonder how heavy it is? And since entertaining guests outdoors with little space can be challenging, especially in a city setting, Dedon has designed a few sets of amazing stackable outdoor furniture. They don’t stack like any other chairs, but into the form of spheres and obelisks instead.

The Holy Grail of Transforming

(images via kenchikukagu)

This is by far the holy grail of space-saving goodness. The Kenchikukagu is a set of mobile furniture that includes a fully functioning kitchen. Take a peep at the video clip below and behold the pieces in action. The set also includes a mobile guest room and work space with lighting. These are not concept designs, and are available atAmazon Japan for JPY 800,000 (about $7,346).

Indoor Sport

(images via Ferran Lajara, Tobias Fränzel)

Want more fun and adventure in your 400 square foot space? Look no further than The Hanger and Ping Pong Door. You need to hang your jackets somewhere, but you’re tired of the coat rack; hang them on a miniature indoor rock climbing gym. Upgrade your Scrabble night to Ping Pong night with the Ping Pong Table designed byTobias Fränzel. Flip the panel down to create instant fun, with equally easy cleanup when you’re done!

Small spaces are often associated with a lack of functionality and flexibility to live how you’d like. With these innovative examples of furniture and accessories for your home, you can soon turn your cozy space into a paradise, no matter what the square footage.