Think about your values and how they can be incorporated into a home, keep it practical.
If you value egalitarian relationships: Avoid rules and promote personal responsibility, eg, don't create a chore chart, when you see something needs cleaning or dishes need doing, do it.
If you wish to live outside capitalism: Avoid spending money when possible: dumpster food or have a garden, make whatever you can, avoid excess things, have a community free box, host clothing swaps or really really free markets.
If you value activism and spreading ideas: Use your home for social events, meetings, have a printshop in your basement, host reading groups, have a zine library.
If you want to promote certain social policies and create a counter culture: Make your home a safe space by enforcing security culture, being clear about what behaviours are acceptable in your home (ie: sexism or racism aren't tolerated and act accordingly).
If you value friendship: Avoid polyamorous relationships that in anyway involve or affect your housemates.
These are just suggestions. Just be yourselves and experiment with what works with how you want to live, be creative and good luck.