Depends on what your needs and wants comparison looks like. Do you need a new machine or just want one... Do you need new furniture or just want it. ... Tough call. When it come to this type of decison ask yourself .. in one year what will be the outcome... will you still need new furniture that has now deteriorated even more and no money to purchase, and a machine that is nice .. but you still can use the old one? Is this purchase going be using $$$ that may not come aound again for a few years??
I have a similiar situation with my carpet... I deperately need .. and I do mean NEED new carpet.... but anew machine has been on my list as well. My current machine will work just fine probably for the next 5 years or more.... Even though I would get lots of use out of a new machine ... the carpet just has to be the top of the list ... one more year, if not more of this carpet and I will be down to the plywood underneath.