What is your style preference and lifestyle? But, I will say scratch the sofa/loveseat plan and purchase a sofa and two chairs instead. Much more flexibility. But, for me personally, I love this gray tweed sofa...

I agree that two chairs and a couch are more practical. Usually only one person at a time sits on a love seat.

The light is so lovely here. An equally soft palette of dove greys, charcoal, bisque and oatmeal in your furnishings would be soothing and gorgeous. This makes me want cashmere, chocolates ( also good colours) and a roaring fire. Congratulations on your new home.

I would go neutral colours with furnishings, beige, cream, light grey, with complimentary colours in cushions, curtains, rug etc. then you are not stuck with paint colours if you choose to change later on. I like 3 seater, 2 chairs., It looks good to get couch and the Chairs different, in similars colours, but different textures

I saw grey-brown at Ikea, almost driftwood tone. Is your floor dark, but dusty? :) or a bit grey-ish? thanks.
.... what are 'your colors'?

Some more ideas on furnishings

I would recommend a neutral linen fabric couch with primary color accent accessories.

Yes, the floors are dusty. The house I have now has linen shades accented with black and I love it. This house has a lot of brown and I am finding it difficult to accent. I like the idea of the oatmeal colour.....I brought home a dark grey and a colour called elephant and neither worked.

Beautiful. Darker shades will be better just to punctuate with, lest they suck all that great light.

curious - during different times of day: what does 'sea salt' paint appear to be? as to color oatmeal - it makes me think of textures, like a cable-knit throw.

or place 3 modern pieces vertically over mantel.

long-shot share- if you like simple, and dyi - just saw that you can paint canvases in different neutrals perhaps and go up fireplace wall... could still place few items on mantel:
http://www.benjaminmoore.com/en-us/for-your-home/decorative-painting-projects

do you like wicker [a bit like oatmeal]:

thought of your house! black doesn't have to be formal. Here it is in wicker, but could be good quality for living room - with distressed frames, jute rug, in case you like that sort of thing:

MODern clean lines and lemon-lime accent:

this shows what use of wood could do to uplift so much black:

Sea salt is a very soft grey that contrasts great with the dark trim and floors. After doing some measuring, it turns out that I have room for a couch, love seat and 2 chairs. I found a couch and a love seat that is very similar to the light blue couches that blenheimnewzealand posted but in a soft grey. The oatmeal didn't work out and it seemed like the most common suggestion from everyone was some shade of grey. I attached a pic from the store of the love seat.....the sofa is just a bigger version with the 2 cushions as well. They are a lot more traditional than I wanted but look great in person. I will find 2 accent chairs that are more contemporary.

blue/white/creams

chairs, possibly in colors? Grey walls, grey pieces often need color....
but the colors are endless.....

Sea salt is such a great color. I think the gray is going to be dated in a year...a creamy warm beige looks great and fresh with the paint color.

Instead of sofa/loveseat combo, you could do 2 sofas and 2chairs, or a large sectional. It depends on how you're using the space.

The sofa/ loveseat combo looks too "showroom". You won't have a custom designed look.