Redesigning my basement

Pants has gotten moving on demolishing our basement and it started to become apparent to me that I have no vision for what I want to do down there. We might be mere weeks from painting and we're starting to talk about furniture and such and I have no idea where I want to go with any of these things.

Considerations:

• We have a large brown brick fireplace that we love and which will be staying, unaltered. I will try to post a photo tomorrow.
• Although there is one largish window, it's still a basement. I think we need to keep it light.
  
• I have kids, ergo, the carpet will be a bit darker shade and all furniture decisions must weigh that factor.
  
• We have little money and Pants is incredibly cheap. My mother has offered to purchase a daybed for the basement so they can stay here when they come.
  

I've been looking for something to build an idea around and the best I've found is this painting. I like the blues and greens and browns and I think it gives me a lot of options for incorporating shades of those into the room.

Better ideas? Better art? Anyone? Help?

P.S. - the barn door and track is gone and has been replaced by an actual door leading to the well. Pants has also gotten the entire drop-ceiling down, but has discovered that the can lights were never secured to the studs, they were just resting on the ceiling tiles. Brilliant.