Looks to be a great house and very roomy! The current layouts are basically fine, but could be improved.
Let's start with formal LR. Loveseat is too far away from sofa. It should be floated with arms almost touching sofa, and then end table in corner of sofa/loveseat grouping. Sofa sand two chair combination would work well here too. Blue or grey would look nice, but probably shy colour would work. and then windows updated with side curtain panels.
For family room, furniture is too far away from either FP or TV . If you purchase sectional for room, have it float in the room a little closer to TV. You would have room foe a couple of chairs by FP also.
Carpeting is very light, so I would add an area rug, especially with small adventurers about.

Thank you! We're moving from a cape that only had one small living room. Everything rested along a wall. It's exciting to think about 2 beautiful rooms to furnish and to hear the family room is large enough to float the pieces!

Shy on budget do the family room first. love the idea of floating a sectional. I would choose a charcoal gray fabric.

I also like the idea of floating a sectional and I would also vote for something in a dark grey tone. You would use an "L" shaped sofa or a sofa with a chaise. I would prefer a lower cabinet for the TV and it could be longer than what the current owners have. You could also flank something like occasional chairs on either side of the TV cabinet for extra seating. Rug on carpet is fine as long as it's not a tripping hazard.

Here is a picture of a room I recently completed. Dark grey sectional and I used inexpensive white curtains behind the sofa. The house has low 8' ceilings and the curtains made ALL the difference in the world and I like I paid $20 per panel.

Try this to balance the space - in the carpeted LR use the blue and white sofas together. Pull the sofas away from walls and have them face each other, parrellel to the windows. Center sofas, with cofee table between, with the fireplace (i think that's a marble hearth?).
In the hardwood area- face the loveseats perpendicular to each window with rug and table between.
You only need about 3' of walking space for traffic patterns.

I think a grey sectional will work very well with the cream walls and dk kitchen cabinets. A patterened rug would be nice and be forgiving in case of any accidents.

These realtors' photos are always so deceptive. It's hard to get a sense of how large the spaces actually are.

In the family room, I would change the layout slightly. Definitely a longer lower cabinet for the TV, but I would face the sofa or sectional toward the fireplace with chaise on the window side, and then two low chairs in front of the window so as not to block the view.

Thank you all. Lora Kay, those aren't my pieces - the pics are from the RE webiste and are of the existing homeowners furniture. lol - i begged her to leave them behind, but she's got twentysomething children who claimed them first.
Dana, the room is beautiful and i'm definitely saving this pic for curtains. i haven't even thought of how to dress them.
The FR layout is so important for me. I think most of my small budget will go towards the new sectional. I've got very little furniture to work with (sofa, chair, endtables, toybox-attached) - I think these pieces will go in the formal LR till I complete our FR. ps. anything of color in the pic below is from our stager......like i mentioned in original msg....no style. ;(

With no budget, try Ikea.

Harbeck, you've got some great advice! I just bought a new house too, and I completely understand the thrill / obsession of trying to figure out what you want in the space. A helpful tip, especially if you have trouble with style is get your pieces in the room first - or order the pieces you'll be adding. It's much easier to play with the style of a room when you can actually stand in it and move things around.

My husband also has a hard time visualizing things as well, but start with one piece you love, then build on from there. Once you have the house and the sectional, you can move things around until you find your best options. Use your current furniture to help figure out the spacing of where future armchairs, couches, etc. would go. I've even had my husband lay on the floor to estimate how much space a dining room table would use.

Once the basics are covered, then worry about adding color. It's easier than you think, if you already have the large stuff in place. A gray / charcoal sectional will provide you with a great neutral base. Then you'll have a couch you can use for years, even if you change other parts of your color scheme. Color can be incorporated in the smaller pieces, such as curtains, pillows, rugs, artwork.

Keep shopping for that sofa, make that your primary goal for now. Then you'll have one piece decided, and the world of sofa options will be closed. When you start to nail things down, it helps you narrow down other aspects also, rather than having everything still up in the air and changing every time you find a new piece you might like. Too many options can get overwhelming.

Keesee, great tip. You're right on. I'll concentrate on the sectional once we move in (and I get room dimensions) and then we can branch out from there. I love the idea of a grey/charcoal base to start with. Hopefully the closing will go well, and I can locate decent furniture stores in the area (DC/MD) quickly. With a bit of luck, I'll find something discounted on July 4th sales.

I hope everything goes well for you, harbeck! I know we had a bit of trouble with our closing, but it all smoothed out eventually, and now we love our new place. Hopefully, you'll have the same feeling once you move in to your new home.

Happy shopping!