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It is better to place it next to the balcony, it is better to put it in that place.
There is no floor plan, so I can only guess if it will suppress your family's wealth.
Look at what the function of your living room is. It is more appropriate to place things according to the function of the small living room.
It's not small, it's bigger than my house.
Suggestion: Don't buy a TV cabinet, the TV is wall-mounted, so it will seem that the space will be very large, and then you put the L-shaped sofa to not look crowded, it is recommended that the L side of the sofa be placed on the window side, so that you are a hospitable person, a lot of friends, a lot of happiness!! >>>More
Also, talk about the furniture you would like to put up. >>>More
Make some screen-style bookshelves or other furniture to store things. Of course, if the space is too small to be partitioned with furniture, you can use a curtain to pull it up. The curtain should be made of good quality and thick cloth and lightweight aluminum alloy guide rails in order to close and open. >>>More