Do you have a piece of art or a special fabric that you want in the room? Something like that would be a jumping-off point for colour and style. If not, you could start from the colours in the fireplace stone.

Use your piece of art as the source for the colorway in your furnishings. You can always change the paint later to work better with the fabrics.

I think blue, yellow, green on your paint can is better. Keep the orange color to min. since you have a big orange kinda wood floor and the kitchen is red. Unless is very bright orange to bring the room to more happy feeling. Hope this help.

@e2chan I want the room to feel "happy" and "bright" but I am nervous about "too many orange tones in the room" as well. I also am worried if I go with too many blues then it will clash against the kitchen. I'm pretty lost. Should I start with a rug and go from there? Could I do a bright happy "punch orange" rug with navy accents ? :S

If you already found a rug that you love, then go from there. Check their return policy before purchase, just in case. Depends on the color of your couch, if it's bright, then I think both orange and blue will do just fine, but if it's dark color, then I won't use blue. I personally don't like orange and blue together on the rug. Sorry.

I found it easier to first pick the color and style for my couch, then pillows/throws, after that, everything else will fall in place. Use color pillows in the room to test out the affect is not a bad idea too.

Good luck. By the way, I love your room.

@e2chan Thanks! I love the idea of using pillows throws to test colours! Do you have another colour scheme that you think would work well? If not , no worries, I'll try the pillow theory ;)

I did a project where I used white sofas in the living room and orange sofa in the office with floors similar to yours http://sainteriordesignstoronto.com/cloud-nine.html