Depending on the layout of your home, a living room can serve many different functions. If you have a separate family room, your living room is often a formal sitting area or parlor used for reading, relaxing and entertaining guests. If it’s the only living space you have, it’s probably also used for watching TV, playing games and spending time with family. As you start your living room remodel, think about the space’s desired purpose — is it going to have a more formal feel or will you aim for a more low-key setting? Regardless of its intent, any good space should have a few staple items, such as a comfortable sofa, a coffee table of some sort, and a focal point, like a fireplace or entertainment center.