Nice, it seem that you are inclined towards the Scandi, minimalist look.
One of the advantages of this style is that you can do it with mostly loose furniture and very little built in. That could translate in some savings for your renovation budget.
I need help to set up my upcoming living room. I want an inviting, warm living room, with touches of Hygge. We foresee that we will often watch TV in this room and have frequent visitors. I would dream of a modular sofa or VERY comfortable sofas. I foresee the space to be flexible and multi-use.
Here are some of the ideas I have short listed.
Would love more to hear from others who frequently have guests over to their homes for gatherings.