For paint, make sure you swatch out the options on your wall. I recommend large swatches, on multiple walls, to ensure that you like the color. You'll want to live it with for a few days, to see how the color changes with the light, before commiting to the color. Below, you'll notice two paint color options, one that is a more classic gray tone, and one that has more warmth to it. The last recommendation is for trim and doors.

If you do not have access to these paint brands, many other stores can match their colors. For the Magnolia Homes, make sure you order a small sample from their site, in order to have it color matched.

This classic gray is a beautiful choice for the space. It will add depth into the room. If you love the color, but want it a bit lighter, This paint would also be great at a lower saturation point (50-75%).

This gray is more of a warm tone gray. It has taupe undertones, allowing it to balance the space. This will be important for the furniture selections below.

Make sure when painting your walls to a cooler tone, that you also paint the trims and doors. Eider white is a complimentary cool tone white, that will add enough contrast, while staying in the same color family.

A warmer tone gray- this won't turn blue in the space. It has great depth. If it's too dark, take it down to a 75-50% color saturation.

This is a balanced gray tone- not too warm or too cool. It's a great selection for the room and it's a brighter tone than some of the other selections.

This is a cool tone gray. It's deep tones would look beautiful in this room and would be enhanced by the accent pillows.

To help break up the wall and further define the TV wall, consider using an easy to install wallpaper, that brings in a wood planked texture. I love the character of this one here, as the warmth balances well with the paint choices. For wallpapering, just wallpaper from door to door and straight up (don't worry about above the doors). It will help the TV wall "Pop," from the wall, and give depth and diminsion to this side of the room.

When working in spaces, it's important to remember that in order to creating an interesting and functional space, that we need to focus on size and scale, along with textures. You'll notice that all the major items are different in their texture, but still balance with each other to create a fun and family friendly space. We start with a large sectional, like this one from Pottery Barn. A darker color, that has cool undertones, helps it blend in more with the other selections in the space. I've chosen two citysacs for the space (or you can do one larger sac). These sacs are in a faux fur- and I love how white and bright it is- because it really contrasts against the leather sofa. An updated recliner- in a basketwoven gray/cream fabric was selected. This can be a comfortable spot for the adults in the space, and it's smaller scale allows us to use it in the room.

I love the media stand that you have picked out already, and used it as an inspiration for additional picks. For the coffee table, I've selected two adjustable reclaimed wood/bronze pieces. You can adjust the height on these- so that they can slightly overlap- creating a fun and unique coffee table. For the end tables, I've continued with this bronze and reclaimed wood look, but used square end tables. I love balancing the round sacs and round coffee tables with this- as it really balances the feminine and masculine tones of the room.

Glass lamps in indigo and varying textures of blue and white pillows really help tie together the space. Lastly, White linen drapes with indigo stripes frame off the windows and provide a beautiful contrast against the walls.

All of the major items in the space balance well together- whether they are balancing cool and warm tones, or masculine and feminine tones- it's a great balance for a family. This option also brings in 6 seats for the family, allowing plenty of space for everyone.

To the right are all of the textures next to each other. From linens to velvets and whites, grays and blues- the textures, patterns and colors all work seamlessly together.

This drape strikes a casual balance of color and style. Made of soft 100% cotton woven with slender stripes that run horizontally for a more relaxed look. It balances perfectly with the textile options above.

For the drapery rods, extend the rods, 3-4" on each side and about 4-6" above the window frame. This will allow the window to appear larger and taller, helping the room appear bigger.

Below are two stikwood options for the space. Since these are real wood pieces, they will bring in a beautiful diminsional texture to the space, that the wallpaper would not be able to. They are also simple assembly.

The options below are less expensive than the stickwood brand. The most cost efficient option would be a DIY. If you are not a DIY enthusiast, I've included one additional option that is easy to install.