To use a room in two different ways, you need to have furniture pieces that can be used in two different ways. For example, a day bed can be used as a sofa and a bed; both needed for a living room and bedroom space. Murphy beds are also a great option for multi-function spaces. They can be tucked away during the day and pulled down when needed at night. Another trick is using a cluster of accent tables as a coffee table for the living room that can be separated and used as multiple nightstands for the bedroom space.