You definitely don;t have to go black and white - and I wouldn't do that in this sspace. Those floors are so gorgeous I would try to set them off with a table that is darker wood than the floors.
For the wall paint, what about picking out one of the colours from the backsplash to act as a backdrop for the kitchen and furnishings. Can you post a pic of the backsplash?
For curtains - I'm assuming that you are taking down those valances, please. Are those windows or french doors behind the curtains - I can't tell.

You have a nice set-up to work with in decorating this space with lots of directions you could go in - have fun.

That is going to be a gorgeous area - as soon as, like bfenton says, those hideous drapes are removed. I would probably do textured roman blinds hung at the ceiling, if those aren't french doors, and on the doors if they are. If you prefer panels, JCPenney is a great, inexpensive source.

What colors are you partial to? You could certainly do grey or even a brown, then add accessories in canary yellow or lime green or red.

As far as furniture, again, you could do anything. Pick some candidates and post them here. No-one here is shy about giving opinions on potential purchases to help you avoid mistakes.

Congrats on the new house!
Dee

It looks like you're going to have to paint, no matter what once you take down the valances and giant tie-backs. I love yellow, but that shade is just not playing well with the cabs and backsplash. If you'd like to stay really light maybe something like SW Navajo White or Panda White will work. Since you have so much light from the doors you can go a dark bronze to pick up the accent tiles in the backsplash.

Can't help you with curtains, I have to DIY mine unless I have a coupon for BB&B and they have something I like :)

A wood dining set would be great, as suggested, but I'd probably stay away from really red toned wood. The cabs and backsplash have a lot of browns so don't worry about introducing that range for furniture. The cabinets aren't white but a very light cafe so I wouldn't get a big piece of furniture that is. The trim and door are white, and I'd probably paint them something closer to the cab color.

You have a lot of choices, it's going to be great fun!

What a great space!

1. Is it ok if I go with wooden dining set or it has to be something in black and white?

Yes, a medium-dark wood table would look great. You don't have to get a set. You can mix and match chairs.

2. Curtains: For this area I'm looking for panels that aren't solid/formal/heavy; something more light/casual/contemporary. Which places/sites would be ideal..dont want too Pricey.

I love west elm panels and they have good sales. Definately get rid of the valance.

3. What kind of furniture would look good in this area. There is some space(not a whole lot) beyond as well... though couldn't capture in the picture.

It's pretty much a blank slate right now. What style appeals to you? With that kitchen you can do traditional, country, transitional.

4. Is the color yellow ok on the walls or should I repaint it white?

Don't love the yellow. I think it fights with the cooler tones of the kitchen, but painting should be the last thing you do after you have decorated the rest of the space.

Check out stores like Ikea or Pier One or World Market (you could find everything -- including simple curtain panels there!)

-Simple basic white cotton/linen panels on dark rods.

-White table and benches/or chairs. Rectanglar table to fit under the lights.

-Black and backless, saddle-seat stools to slide under the breakfast bar.

-I would keep the walls in a simple white until you find your design style or inspiration piece (like artwork, or fabric or an area rug) Simple and fresh white -- easy to live with!

Start with the basics -- and then add color and pattern with fabrics (like a cushion on a chair or bench, an artwork or an area rug)

After you take down the curtains and valances, see what the wall paint looks like. I think the yellow curtains/drapes are making the paint more yellow than it really is. If you want to paint, I would pick a color in your back splash OR a nice soft sage green would look nice with the cabinets you have. As far as what sort of table, I can see a glass top one or a wooden one but rectangular because of the row of pendent lights you have.

As a side note, I only opened this thread after seeing it getting responses. I had no idea how to interpret "Kitchen cum dining cum living/sitting area" other than some kind of porno spammer. Honestly. Out of curiosity what does "cum" mean -- other than the obvious? Is it an abbreviation I'm not aware of?

Now on to your questions...

1. Is it ok if I go with wooden dining set or it has to be something in black and white?
I would go with something darker than the floors, but lighter than the countertops.

2. Curtains: For this area I'm looking for panels that aren't solid/formal/heavy; something more light/casual/contemporary. Which places/sites would be ideal..dont want too Pricey.
I don't know your style, but looking just at the bones you have to work with, how about something like this in the "soft cream"?

3. What kind of furniture would look good in this area. There is some space(not a whole lot) beyond as well... though couldn't capture in the picture.
Really depends on your style & the direction you want to go.

4. Is the color yellow ok on the walls or should I repaint it white?I wouldn't keep the yellow, but I definitely wouldn't go white. I have some mockups in my head, give me a few mins...

cum means together or with

Here is a link that might be useful: onelook dictionary

Ahhhh... ok. I am familiar with the latin, e.g. summa cum laude, I guess my mind is just in the gutter (and I'm used to seeing it in educational contexts, not floorplans). :)

TY!

hello again,
First thankyou to all you great people who take out the time from their bussssyyyy schedules and help. its such a delight to come here and discuss your frustrations.
So for the wall colors for this room which is a well lit area I am contemplating between yellow and green.
(although I dont like the yellow that the previous owner did)
Which color should I go with....???
I want to go with green as in the future I want to bring in furniture that has cream & white geometrical pattern on it with a striped black & white rug under it.
But DH wants to go with yellow as its a warm color and I understand his vision too...
Ahh need your advice please........
Thanks

Take a look at the Laura Ashley Olive palette, you can find it at Lowes. They are a yellowed sage green, so a bit of a compromise. Olive 3 is my favorite, so versatile and warm.

1. Take down curtains, replace with something light! Cellular shades on the French doors, perhaps?
2. Wall color--- maybe a lighter taupe from the backsplash ( isthat tumbled marble?)
3. Dark, dark table, color wenge or expresso or similar
4. Fun French bistro chairs in bentwood (about the same color as your floors) with black and white rilson webbing!
5. Light fixtures: take down and repaint a lighter color. That black weighs them down, and makes them take up too much visual weight in the room.

Thanks for the replies.
Does anyone have good green colors or yellow colors for this area?
Thanks.