SFGate

Manon Floreat A DIY project I've always wanted to try is the painted floor cloth. You might consider the project for an inexpensive area rug. Here's an example of how it looks:

http://livingwellonthecheap.com/2011/04/15/diy-zebra-rug/

I believe this person used a drop cloth, you can also use an inexpensive sisal or canvas rug as well.

groveraxle Turn those bare walls into an art gallery. Over the sofa and opposite the TV are perfect for art. Ikea has inexpensive frames (that's often the most expensive part of artwork) and you could do a whole gallery wall of black and white photos with a colored one thrown in the mix.

Or search online for inexpensive originals. Try here: http://www.saatchionline.com/
And here: http://www.etsy.com/browse/art?ref=fp_ln_new_art

If you're up for diy, build some simple frames and use them to stretch a fabric you love and staple on the back. Voila! Instant art.

misspeggy7 colorful, abstract art on the walls.

Dytecture You've done well so far, just need to add more details as suggested by others.

PYRAMID DESIGN GROUP Start with a new area rug that picks up the red of the chair and artwork above the sofa.