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You should budget at least $300 for the cost of labor and talent, on top of the cost of material, but you can call your re-upholsterer ahead of time to get an idea of their charges. For the average sized couch, you can typically expect to pay around $700. Of course, this will also depend on the type of material that you use (for example, linen will cost much less than silk or velvet) as well as who you go to to have the reupholstering done. A large couch will run you close to $1,000 and a small loveseat will typically be around $450.
For a sofa which has wobbling frame and torn fabric which need replacement, then a 6 to 7 foot sofa may cost you 500 to 800 US dollars to reupholster with fabrics. This is suitable as compared to spending 1,200 US dollars to purchase a new one.