Last time round we were not able to do much for DS, and I always looked forward to doing up a proper baby room for my next one. Well, next one is coming and our circumstances are different, but still not able to do a baby room (we only have 2 bedrooms!) so I say if your happy to spend some money and time go for it. Work out with your partner what is a happy and comfortable budget. Personally I wouldnt spend too much, but thats me. I think a nice room can be made up with a bit of planning and looking round to get ideas. And you can always add more to the room once baby gets a bit bigger - it doesnt need to all be 'perfect and finished' in advance does it?