Hear me out, but I got a fancy pants inflatable double height king mattress a few years ago and it's legit as comfortable as any mattress I've ever owned. I was skeptical because I grew up with the crappy dorm-style inflatable mattresses where you wake up on the floor and I am a terrible princess-and-the-pea sleeper with a gnarly form of degenerative arthritis. I bit the bullet when I needed something I could take up to our yurt in the mountains so I'd be able to sleep comfortably if I was going to stay a couple days. It's great. It's nice and tall, can inflate to a good firmness (I love a firm mattress) and can withstand enthusiastic...activity. If I had it set up in my home, I'd probably get an extra-long bed-skirt just for aesthetics, but even with regular sheets, blankets, and duvet, it looks nice enough to where I wouldn't feel embarrassed at all to have my guests see it. EDIT: The brand I bought was Englander, which comes with a 10 year non-prorated warranty. They're made in the USA by a company that has been around since 1894. More on reddit.com

If you’re willing to spend a little bit beyond the budget your parents have given you, I can say that the Pottery Barn ones do hold up. They also have at least one slipcovered upholstered option which adds to the longevity because they can be washed or even replaced if need be. We bought one for a guest bedroom on a friend’s recommendation, at least ten years ago now, that guest bedroom later turned into my child’s nursery and my husband and I spent a lot of nights sleeping on it when they were young. It is now their actual bed and we just bought a second of the same daybed for the guest bedroom in our newly finished basement. ETA: It also comes in multiple sizes which is nice if you want that. We got a twin the first time around, and the second one is a double. More on reddit.com

I've gone through the daybed/futon dilemma myself and concluded I hate them both. Futon mattresses ALWAYS slide off the frame when the thing is in sitting position. Futon frames are bulky and unwieldy, and ugly. And very heavy. Day beds are bulky - the height takes up a lot of space. no one sits on them, they're not particularly inviting as a seating option. The twin mattresses with framing on three sides make them uncomfortably small as a sleeping option for tall people, impossible for more than one person. I gave away my daybed and my futon frames, I still have two nice, upgraded futon mattresses, which i use as bed mattresses. I'm currently looking for a platform bed frame for one of the (full size) futon mattresses. More on reddit.com

With a $200 budget, start hitting up thrift stores or looking on Facebook Marketplace or Craigslist. You won't find anything worth the money new for that price. Daybeds are notoriously uncomfortable. They can be passable as a bed if you get a good mattress, but as a sitting place, not so much. Better idea is to find a used loveseat or sofa. More on reddit.com