I recently had made a large closet and bunk bed. It cost a lot of money to have it built.
It makes my wife very happy because it gives us place to put stuff so we can unclutter our apartment. The kids are happy about the bunk bed.
Should we make a shechiyanhu or Hotov Umeitiv?
Just one of us? Or both of us?
There are people who have the minhag not to make shehechiyanu of hotav umeitiv on new furniture, however if it is the minhag in your family you may. The bracha here wold be Hatov Umeitiv because there are a number of people that are very happy over this, and it is a significant. You will make the bracha and your wife and children will answer amen.
You should get much good use out of your new closet and bunk bed.
O:CH 223-3, M:B 223-13, Biur Halacha D:H Bono, Halichos Shlomo (Tfillah) chap. 23-16, Magen Avrohom. 223-5, Piskei Teshuvos 223-6.