There are tons of papers available that would go with your midcentury home. Many people tire of a paper quicker than they are ready to redecorate and they can also look dated in a couple of years. Metallic papers were big im midcentury...perhaps a metallic silver paper? Are you also considering paint? You can get it in so many textures and a blue wall to match the blue in your loveseat would be lovely with some midcentury art and sculpture, or photographs on it. A mirrored wall with or without art or sculpture would also work with midcentury. These treatments are easier to adapt should you wish to change the look slightly from time to time. I would suggest replacing your stairrail with chrome or acrylic if that is in the budget...see how well the loveseat frame looks with the fabric? I hope you will post the "after" photos for us to see. Above all, enjoy the process!

@kmkane... The "old thread" comments, at least from ME... aren't for any other reason than letting some contributors know, that the advice they might believe they are giving, may be moot. I know that when I 1st became involved on Houzz, I was glad when someone indicated that I may be addressing a question which had probably been answered months (if not years) ago. Helped me "learn" to check the original posting date before blathering on about an issue someone was no longer interested in.

Hi everyone, we have moved in! We didn't manage to paint before we moved and think we will go for a staged approach - above the wood panels first in a warm white then decide on the panels. I'm having a bit of trouble working out what kind of sofa to buy and how at arrange the lounge. All furniture except coffee table temporary in photos and would love some ideas!

Matte finishes have more texture that traps dirt and oils. If people entering the room cannot see well enough to be able to find the light switch, you might consider switching the switch to a dimmer that you can leave the light on very low all the time. Or a night light light switch which has a small LED built into it. People should not be dragging their dirty hands across the wall.