A kitchen with an island is indeed great, but I can tell you from our experience with our current house (in which we are still renting, also a semi-detached house, the new house is not finished yet): this completely open design can be very, very annoying! In our case, the living room, hallway, and staircase to the upper floor are completely open and quite wide. Sitting quietly in the living room downstairs is not possible. Every noise echoes upstairs or noises from the children come down. I would not remove the wall and would be glad if I had such a wall here with us. If you do remove it, I would install a door at the stairway to the upper floor, e.g., a sliding door. You also need to consider the stairs, which presumably lead to the basement: if that also opens into the living area, cold air can rise in winter. This was also the case with acquaintances of ours, and it bothered them a lot.