Before I had Khloe, I took Davy's childhood bed and refurbished it for Porter's big boy bed. It was a natural oak finish that I had previously painted white. So I sanded it, and painted it using black furniture paint from Four Chairs.
To enhance the bed, I added beadboard to the insert on the headboard and footboard. Measure your insert and cut your beadboard to size. Using Liquid Nail, glue the beadboard in place and hold with clamps for 24 hours. Next, caulk the perimeter. Simply, run a thin bead of caulk and then wipe with your pointer finger. Wipe your finger on a wet rag. Let the caulk dry to make sure there are no gaps between the beadboard and the bed. Then paint. Refer to Lindsay's post about the Armoire for detailed painting, sanding, and top coat instructions.
I also did the same to my old oak dresser. I sanded the entire thing, cut beadboard fronts for all the drawers, glued in place using the same method mentioned above, caulked, and then painted. I replaced the outdated knobs with new ones and got a brand new dresser for around $50.
I did the same with my old oak nightstand. Adding the beadboard to both the drawers and doors, really updated the look. The hinges were a bronze color, so I spray painted them silver to match the knobs. I share this to show you that those outdated pieces in your house can easily be transformed into something new, modern, and beautiful. I am happy to help any of you with this DIY project!