27 Ways To Rethink Your Bed: Bed in a Closet. Also check out the Roll-Away Bed under a Platform; Cool way to quickly tidy up a small space, and keep pet hair off the bed! Maybe put a little reading or office space on top on the bed?
I would want a larger TV but thats basically what I want my living room to be like. One big sofa bed thing to make everyone comfy and laid back! to go cheaper you could use mattress and make or use bed pillows covered with same fabric as mattress.