For me, I appreciate small spaces and in particular, their central location to urban centers and cultural venues. When you have that great place in the city, you will most certainly get visitors. So how do you accommodate guests when you have a very small space such as a loft or apartment? That is where optimizing your furniture comes in. There are many pieces on the market today that serve multiple purposes. One of my favorites is the sleeper sofa bed. I think sofa beds offer terrific functionality when needed and provide day to day living requirements of being a great piece of furniture to lounge on. You will not always have overnight guests, but if you do, it is nice to offer them a place to sleep. Also, if your spouse, girlfriend, or boyfriend misbehaves, you can send them out to the sofa for a good nights sleep! Pictured here is a sofa bed from Design Within Reach. The Twilight Sleeper Sofa retails for $1,650 and comes in the following colors: dark grey, autumn, grass green, and light blue. Here are a few other ideas as well.