it totally depends on how much you want to spend dude. the sky is the limit, obviously. When I was in grad school, i picked up a nice reclining leather couch and matching leather reclining chair for $150 buck, I think. Everything else was hand me downs - given to us for free.
Just browse CL if you want to do it on the low low - that's where I picked up the leather couch and recliner.