Depends on your budget and how much structural work and what you're doing yourself or paying others to do or if you want to do major work now or just make it a bit nicer until you make big changes. My thoughts are that
the single bulb light will not provide enough light for the room on its own and looks like it might be off-centre, close to the window, where it's needed less.
You'll need twice as many sockets as it has or you think you'll need. Getting an electrician in to put in more sockets throughout now is worth thinking about.
people often put shelving either side of fireplaces
think about whether you need to lift the tiles before putting down more flooring, do you want carpet or laminate/wood/tiles?
with decorating start at the top and work down. light fitting, ceiling walls/doors/windows, skirting, floor. do take the time to prep before painting. I never do and always regret it. eg filling and sanding holes in the woodwork.