Your home's living room is the place most guests will see first when stepping in for a visit. It sets the tone for their perspective on the rest of the house. Taking a little extra time and effort to keep it in great condition and as a desirable room for family and friends alike is an endeavor well worth the time.

If you decide you need or simply want to update your living room, but don't want to spend a fortune - keep reading for 8 great tips on how you can redecorate this critical family space for less and keep more in your pocket.

1. Check the Classified Ads

Keep your eyes open for garage sales and, in particular, moving sales. Look for listings in higher-end neighborhoods where you're more likely to find a nice couch for a discounted price. Don't discount simple yard sales as well. Sometimes you will find a steal on a great looking piece of furniture if you are one of the first to arrive.

2. Visit Auctions

Auctions and estate sales can be great for tracking down full living room sets, repossessed furniture and antique finds. Before you bid, make sure you have the money on hand and understand the legal implications of placing a bid on an item. Online and offline, a good auction can deliver some great deals.

3. Update the Lighting

By updating your ceiling fixtures and floor lighting you can instantly make a room look more modern. Replace old, dusty lamp shades with something more contemporary and take down those retro ceiling fans in favor of a hipper, cleaner fixture.

4. Get Some Free Inspiration

Browse through design books and popular decorating magazines at your local library to get inspiration. You can also use the Internet or tune into popular home design programs.

While these methods aren't a replacement for a personal interior design consultant, they'll help you build your own style file as you take your living room from freak to chic.

6. Start Cleaning

Often a thorough cleaning can really brighten a room for minimal cost, making it feel new again. Start by de-cluttering the space and getting rid of any items you don't use on a regular basis. Then, invest in some storage solutions that'll help you keep your clutter at bay. Ideally, you want the kid's toys and Disney movies hidden from view.

From there, spend a little money on carpet cleaning and having your couch and curtains cleaned by a professional. Simple and inexpensive, professional cleaning is a great way to instantly make your home feel new again.

7. Create an Indoor Green Space

Plants are an inexpensive design tool that packs a big punch. Plants not only filter the air and regulate indoor humidity levels, they look good too. Create an indoor garden by grouping a collection of plants by an unused window.

8. Throw Down a Rug

An area rug is an affordable way to make a room feel comfortable, cozy and new, but without paying for wall-to-wall carpeting. Just be sure to select something that goes with the general decor of your living room.