Decor inspiration from your favorite TV shows

A room with all monochromatic furniture looks really elegant and appears larger, says Garcia. But all the same color can also make a room look undone. To fix that, Garcia recommends picking one or two complementary hues—eggplant with gray, for instance—to add a little pop of color in accent pillows, rugs, or throw blankets. For an even more luxurious feel, she recommends adding silver and gold detailing. Mixing metals keeps things interesting, she says.

The ultimate status symbol is a highly coveted painting by an artist like Damien Hirst or Richard Prince. While you probably don't have a spare million lying around to purchase such a work, you can still collect great art from websites like 20x200. A large painting or photograph is a great way to ground a room and create a focal point, says Garcia. She adds: A bigger painting makes a room look bigger; a smaller painting makes everything feel smaller. In other words, go big to look rich.

Have a great table or chair that you want to show off? To draw attention to a standout piece of furniture, set it off from the rest of your space. Area rugs are perfect for this, says Garcia.

For a luxurious bed without the high price, try to combine different weights of fabrics and textures to create a layered, decadent feel. Consider pairing cotton sheets with a diamond stitch quilt, then adding a folded down comforter or furry, soft throw folded at the foot of the bed. Another way to up the sumptuousness is by adding a headboard.

The mark of an expensive kitchen is streamlined materials. You don't want the backdrop tiles and the countertop to fight each other, warns Garcia. If you choose a stone-and-wood combination, don't use more than two or three colors, or it will start to look messy.

In the bathroom, keep things like toothbrushes and hair serums out of sight for a more streamlined look. If you can, replace a dated, mirrored medicine cabinet with an inexpensive gilded mirror and stash toiletries under the sink. To complete the look, she recommends monogrammed hand towels, which are inexpensive but look rich.