Bathroom Re-Do

You know the drill: you buy a house and you instantly inherit the style/design of the previous owners until you get the chance to make your house your house.  This was exactly the case with my half-bath/powder room on the first floor of our house.  The problem with this room is that nothing about it is what I would choose to put in my half-bath...nothing.  When we first looked at the house, I had already started thinking about what I could do to this room to update it and make it more of my own. Before I start breaking down my thoughts, let me share with you the actual room:

 

 Personal Problem #1 with this room: it's wallpapered.  Now, obviously these ferns are somewhat "in" right now (see PB and their fern towels) however, they're just NOT for me.  Unfortunately, Stephen says he likes these ferns...that caused a lot of need for discussion/begging/reasoning :-)

Personal Problem #2 with this room: the cabinet that eats up a ton of this tiny room and the 1980s faucet that adorns this vanity.  Both must go.  

Personal Problem #3 with this room: the ceiling is painted green.  Ugh. Thanks!  I'm not saying that you shouldn't paint your ceiling - I realize that a lot of designers will tell you that this is a great way to add color or points of interest to your room.  My problem with it is that this room is just so small - I'd prefer a white ceiling (again, personal preference).

Personal Problem #4 with this room: I do not like the chandelier in this bathroom.  Maybe it's the wrong design to go with light, maybe it's the fact that it's in the bathroom - I'm not quite sure what it is, but I'm just not feeling the chandelier.  Perhaps if it were in a different room with different design around it I could like the chandelier, but not in this context. 

Now let me introduce you to the new look I'm shooting for in this room:

I am giddy with excitement at the possibility that this room holds!  So excited that I went on ahead and got a little big for my britches...

I got the itch to remove the ferns and they came down super easily - almost too easily!  I'm fairly certain there's no going back now!

Any of you seasoned DIYers out there that have already updated a bathroom in your house and would like to share some good tips for a newbie like myself?  I'd love to hear your advice!