^Agree with eld6161. First priority is the baby (congrats!). Use one of the secondary bedrooms for the nursery. Next is your husband's gaming space and a distant third is entertaining overnight guests. I know the need to nest is strong, especially during pregnancy, but I don't think taking on the basement rehab now is a good idea. As mentioned above, put those guests on a sofa bed or in a nearby hotel until you get the basement reno done - after the baby is born. Do the basement reno when time and budget permit which may be longer than a couple of years :)

I actually really liked your bar cart next to the sofa. Also, the height was better than what you have ther enow. As far as rugs, have you looked at www.rugsusa.com ? Right now, they have 80% off, but sales are quite frequently (although the 80% is more than usually off). First one is 384.00 for a 9x12, second is just under 200.00, third one 214.00 https://www.rugsusa.com/rugsusa/rugs/rugs-usa-classic-tinted-floral/Purple/200RZDR02A-P.html (but in red)

This is a close up of a tweedy type rug that might work for you - I just think a darker rug will cozy up the area and complement the ottoman so much better.... This rug has been discontinued and the remaining sizes are probably too big for your space, but it might be a direction to be looking, if it appeals to you: Something like this might work, too. I can't tell for sure about the colors but Pottery Barn has samples available in store if there is one near you, refundable deposit when returned:

Kaya the thing that turns Farmhouse or Modern Farmhouse into Industrial Farmhouse are components like heavier metals, metal trimmed out furniture with rivets, heavy beams, pulleys or industrial style wheels on furniture factory style light fixtures (your island pendents) etc. The term can be thought of this way. It is basically an old factory that is turned into housing but farm style added. If that makes sense. Exposed brick can be one, but this goes with several decor styles so I wouldnt want you to think , I love exposed brick that means I like industrial. I may not be describing this well so I googled definition and they say what I am but better LOL "Industrial farmhouse style combines comfortable and welcoming farmhouseatmosphere with the edgy, rugged lines of industrial style. Traditional industrial style is based on the concept of living in a factory or warehouse setting—picture a modernloft apartment in a big city." Some photos here rivets on hood, barn door, metal pendents, barstools, weathered island here exposed air ducts, island, lighting, windows and painted brick walls here metal and exposed beams, weathered brick wall, concrete island Here hood, weathered walls, heavy beamed island here weathered beams, metal trimmed weathered island, pendents, weathered flooring Hope this helps