You don't have to have a separate room for your baby. If space is an issue and your baby will be sharing your room, your baby "area" should be a quiet, peaceful and comfortable place. The lighting should be subdued and if possible should not be a bright over head light.
Your newborn's sleeping needs are going to be simple: A bassinet (on wheels or a Moses Basket) with a firm mattress will be fine for baby for at least 3-4 months. You will need at least 2-3 fitted sheets.
As baby gets older, you will need a crib. New cribs must meet the safety regulations:
The slats are no more than 2 3/8 inches apart
The mattress fits snugly (no more than two finger gap all around)
The side rail no longer lowers
Make sure that you remove all stuffed animals, plush toys, pillows, fluffy blankets and crib bumpers from the crib, to reduce the risk of Sudden Infant death Syndrome.
List of Bedding Items Needed:
2-3 fitted sheets
mattress pad
6-8 receiving blankets
List of Changing Needs:
Changing table
soft changing pad
3 Packs of Newborn Diapers
24-48 Cloth diapers if using a service ( 800.80.dy-dee)
Unscented Baby Wipes
Diaper pail (diaper genie)
Wipes warmer
Cotton balls
Gauze squares and Vaseline tubes (if baby is circumcised)
Newborn zinc rash ointment (Desitin, Balmex for example)
Newborn digital thermometer
Small plastic bowl for warm water for diaper changes
You may want to keep all supplies within your reach to make changing baby easier, and never leave baby unattended.
I also have a meet-up group, where expectant moms can get together and share stories, tips, information and also get advice!!