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The holidays are just around the corner, and it may be your turn to host the holiday celebrations. You'll be racing around shopping, cooking, cleaning and -- well, trying to figure out where your guests will sleep.

If you have limited space and several guests are planning on spending the night at your place, you might consider getting a short term rental or hotel room near your home for all the extra people. Or, you might treat yourself an early holiday gift by investing in a futon or two that will last for many special occasions to come.

Compared with other contemporary furniture designs, futons are relatively inexpensive. You can buy for about $200 a metal frame and standard mattress. Many of the economical futon mattresses come in a standard black or white color. To spice them up, there is a wealth of inexpensive covers available in a variety of patterns and colors. It is easy to install futon covers. Usually, they have a 3-sided zipper. You place the mattress inside the cover, zip it up, and you have a whole new look. Because they zip over the futon mattress, the cover will not slide off of the futon. Most futon covers are machine washable so you can use them over and over again. Because futon covers are available in so many solid colors or print designs, you can easily mix or match or futon covers to fit any interior decorating scheme. Compliment your futon with some colorful throw pillows and you have created an attractive piece of furniture.

Unless you are purchasing a high-end futon featuring a wicker or log frame, the metal futons do not take up a lot of room. You can tuck them into an alcove, maybe at the end of a hall, or in an empty corner of the living room. You can even put one in your home office without losing a lot of office space. When guests arrive, simply flip the futons out into comfortable double, queen or king-sized beds. Your guests will find them comfortable to sleep on and the next day, it is easy to flip the futon back into a sofa that will conserve space.

After the holidays, you have versatile furniture for your everyday life. And if you have to host another event next year, you'll be shopping, cleaning and busy in the kitchen - but you won't need to worry about where your guests will sleep.