Neutral/Monochrome Colour Theme in decors:

Having a neutral theme can create freedom to improvise on accessories and lighting.
A monochrome theme in an interior gives it an elegant and delicate look overall.
If you want to keep your living rooom decor flexible and change colour themes often by changing the colour of accessories etc then it is a good idea to have a neutral or monochrome theme.

Colour:
Now lot of people think that if they want monochrome theme or neutral theme then they will have to paint all walls white.This is a wrong conception. If you want monochrome or neutral colour scheme you can choose from different shades of the same colour family-it may be yellow/ivory, blues or greens, browns etc
Depending on the type of mood you want to create in the ambiance go for colour selection.

Furniture:
You can also keep the furniture/woodworks in monochrome/neutral tone. Change the woodworks effect by changing the fabric/accessories colours of pillows/carpets/rugs/wall arts etc. You can also buy slip covers for sofas or beds and have different effects for shades and colours.

Accessories:
Change the accessories regularly for different effects. Change pillows, curtains and a few room accessories. They may be vases, photo frames, statuettes etc.
Create different moods or effects for changing the mood of interiors. You can either give a warm look if you use colours like orange/red/yellow etc or can be cool look by having colours like blues, aquas, green, turqoise etc

Lighting:
Track lighting or chandeliers cannot be changed often easily.But wall brackets/wall lights/spot lights can be changed easily depending on the look and feel of the room. With different styles and types of shades try to change the theme of a room.