Below are the after pictures. I'm really happy with the drop cloth canvas I bought in the Home Depot paint dept. I bought two of the largest sizes and the entire project cost me $60.00.
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All I did was pre-wash the fabric once and follow some online tutorials I found on making your own slip covers. *(I didn't follow any particular tutorial, I've just read a few over the past year, and had it in my head of what to try) I'm not the best seamstress at all, but I took my time (about 2 weeks) and it was pretty simple.
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The canvas is surprisingly very soft, yet very durable. I love the color and texture of it and it looks natural and beachy.
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Even making the matching cord trim was easier than I thought. The whole couch is less formal and cosier now.