The PP has some great advice. Another thought is whether you plan on being in this house forever ?
When we bought our 1st house, we had a 5 yr. plan...
yr. 1 was house stuff - blinds, deck, landscaping. For furniture, we made do with college stuff, hand-me-downs, and a few IKEA pieces. We did buy a family room couch that we loved from CB
yr. 2 - bedroom furniture - bought stuff that we still love 15 years later
yr. 3 - moved
We are in our 4th house in 15 years and I'm incredibly happy that we haven't spent a fortune on furniture - b/c you don't know what fits! We did a lot of built-ins in our old house (we generally wait about a year so we know EXACTLY what we want), so we were sad to leave those behind.
Of course, we don't have DR furniture, b/c it is incredibly low priority for me to spend a ton on stuff we use 1x/month. Our kids call it the 'dancing room' and it has their CD player. It was also used as the 'bat the balloon room' for a while.
However, we are in an expensive house and are the minority here. I would rather get my family room, morning room, built-ins set up first. For LR (occasional use), we bought Target loveseat and chair. Perfect for how often it is used!
For our FR couch (we moved the CB downstairs when we finished our basement), I went to NC and found an inexpensive sectional. (Rowe) With small kids, it gets trashed, so we planned on it being a 5-8 yr. purchase. It has already been that

It isn't great, but we've gotten our money's worth.
So... think about how you will use the space and spend accordingly. Also, it isn't necessary to do everything now. You are better off doing it over time and being able to afford what you buy!