First I'm not sure if I should be entering this as it's not reconditioned, but built from scratch, but I thought I'd share to maybe provide inspiration. My husband built our sofa/storage unit from old blocks he found lying around, he then rendered them up and painted them. You can see the wood store, currently filled with outside cushions as it's getting hot down here in southern Italy. Under the other seats there are three roomy compartments housing all sorts of things (diving gear, CDs, Christmas decorations etc).
I made the cushions, although hubby's one is covered with a throw so he can siesta wearing his working gear.
Including the foam for the seating cushions, a huge bag of cushion filling (I've got loads left to make outside cushions and gift cushions), the fabric, render and paint it came to less than 300 euros. Not bad for a sofa unit/ lifestyle accessory. Oh and it's fabulously comfortable - we've had five adults fall asleep on it at the same time.
Incidentally, I could have entered the last competition too - I found the chandelier by the bins and gave it some love, spray and new chains and we now have a funky new light fitting. Not to be out-down my husband built the shelves from scratch including the brackets. He's a clever old stick sometimes.