Should I have my piece reupholstered or just buy new?
The quick answer -
Yes, if the piece is sentimental, high-end or you just cannot find another piece that is suitable to replace the one you currently have.
No, if you are looking for a bargain/save money or the piece was cheap. You can find new furniture for much less than it will cost to have something reupholstered, unless the piece you have is valuable/high-end.