Futons are a good option, particularly if you will need to accommodate guests in a small living space. They offer seating when you're not hosting and sleep space when you are.
'Futons are a great purchase if you have a small space and want your furniture to do double duty without taking up additional square footage,' says Paula Cossarini, Product Design Manager at Article. 'They’re perfect for small apartments or home offices that need to double up as guest rooms.'