google Mid Century Modern and you might be very pleased by the options you have.

1. remove popcorn ceiling, replace with non-textured drywall finish coat, or with boar/plank ceiling. paint both beams & ceiling in a light or bright, happy color with glossy paint. white, cream, yellow, kelly green, medium gray.
2. remove red trim around fireplace, cover or replace wall paneling with smooth painted drywall or plywood. replace stone around fireplace with a more geometric stone or brick or tile. not sure what the hearth material is, but could it be replaced with something smooth, so just the fireplace stone has the texture? or just match the new fireplace surround.
3. replace bar, shelves, and "hidden" storage closet on other side - with built in wood cabinetry in a natural wood color.

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Lucky for you, the 60's style is back in full circle! Your home has some good bones to work from- here are my suggestions:

- paint the beams bright white (you may need to paint the ceiling as well so they match). This will open up your space, give it light, and pull the attention away from the textured ceiling. It is amazing what a little paint can do!
- The wood panels above the fireplace would look great painted a neutral gray color. When trying to modernize a space, gray is the perfect solution. Nothing too dark, just something that will harmonize with the white ceiling. I would paint the mantle beams white.
- The shelving to the left of the fireplace should be replaced with shelves that are a little less ornate in style.
- The stone is gorgeous- you could brighten it up by white-washing it. I will attach examples.
- And finally, a little goes a long way-- accessorize your space with classic, clean, modern furnishings and decor!

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Like the advice given by pure home. love the stone on fire place.

The stone is beautiful. I would replace the paneling, replace the popcorn ceiling and repaint it all. I have horrid popcorn ceiling in my family room - you have my sympathies!

I think the paneling is rather interesting, actually. The major issues here, I think, are the popcorn ceiling and the red around the fireplace and on the beams. You could smooth out the ceiling, paint it a color closer to the paneling rather than stark white. Paint the wood beams and fireplace surround in a very soft gray...whatever is the lightest tone in the stone. Can you take the doors off the right hand side of the fireplace to create a pretty display shelving area? The heavy shelves around the bar could be replaced with glass shelving above and beside the mirror for a lighter look. If you replaced the blinds with a fabric Roman shade in a modern pattern incorporating the white/gray/red and maybe another color or two, that would soften/liven up the area. Some new lighting, and you're all set.

How exactly do you remove the popcorn ceiling?

^ Usually involves wetting it down with a sprayer and scraping it off. Be aware that some popcorn ceiling finishes may have asbestos.

My brother hired a local pro to do it at his place. It was done quickly and efficiently without damaging the ceiling for not too much money.