I like the accent wall to the right of the room. I'm going with greys on the walls because it's a classic color that goes with just about any decor. I really like the idea of a grey and pink chevron rug...I hope I can find one. Of course, I could always make one if I can't find any! To separate the spaces, I originally had the idea to put a folding screen between them, but decided on a cube shelving unit for the storage.
I already have a bed, desk, hope chest, bedside tables, a couch, and a bookshelf, so I don't think I'll have to spend to much on the furniture. I bet I can get a good coffee table second hand! I will post before pics eventually, but I want to wait until after stage one so you can compare!