a standard ceiling height is 8' ... you have an "extra" 18". that's no where near enough for an actual "loft", and if you just raise the bed up on a platform for storage underneath you've compromised but your sleeping area and walkable floor space IMO.

there are some VERY clever Murphy Bed's out there these days -- might be a better route to go if you want to gain daytime floor space.

http://fabgreen.com/2006/11/14/flipping-over-modern-murphy-beds/

Hi Brenda! Thanks for the advice! I was thinking of lifting the bed just high enough so that I can watch tv comfortably off the couch. A hide away bed does sound like a much better idea though, i'll check these designs out. Thank you!