Ignore the critics that think you should have new everything for every room -- not all of us have that budget. Don't discard your furnishings. That you have exercise equipment in this room indicates it's not intended to be a formal living room. While it may well be that not all your furnishings are on the short list of items most of us want to put in our the living room for creating a good first impression -- they're certainly not out of place for a family/activity room. You might want a larger cabinet on which to set your tv in no small part because a taller cabinet will be more comfortable to watch and a larger cabinet with doors would give you media related storage space. With that in mind, if you're wanting to change this room on a budget, sometimes you can find an old hutch or bookcase suitable for use as a tv stand from an "antique and more" resale (used stuff) store, Habitat for Humanity Restore Store, Good Will or a local charity thrift store that will serve your purpose When you are out and about with a few minutes to spare, wake through these and see if something catches your eye. If you are careful not to collect junk -- if you know the measurements of your room/space before buying anything and buy only what you will actually use, then such trips will not be wasted time. Good hunting.

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Yeah, I know it’s a tall order to come up with something that accomplishes what I want but I figured I'd see if others on Houzz had some ideas. Both sectionals that I'm considering are pretty spacious. The first one is 144” x 79” and the other is 120” x 110.” msteezzy - here’s a picture of the space you asked about.

The kitchen counter can actually have bar chairs and I would like to do that if space allows. The current owner had the sectional right up to the kitchen counter and I do NOT want to do that. Where is a better place for the tv than over the fireplace or should I keep it there? See pictures and dimensions of my sectional that I will use in the space.