Holly
None of us can tell what you might like or want for a layout for your village and we do not know your skills with construction, planning, painting, etc.
You have a great chance to explore layouts in magazines, U-tube, this forum, friends in your area etc. that can show you possibilities or parts or ideas of what others have done for their layout. Take your time, take notes, bookmark or note things or layouts that interest you. Make sketches and later make scale drawings to be sure all will fit and do what you want. You need to do this exploration and be open to all ideas and try to think how you want a layout to look, how you want to operate it, who will get to or you want to enjoy or share it with, how much time, effort and money you want or can spend. It is important to do a good, complete, well thought out plan for your layout as is a lot work, frustration and possibly money that will have to be spent to tear some of it down and start over. Also try to plan for expansion, moving to another house, etc. for the future as best you can forecast it. I was able to expand my layout by 40% from one rectangle with two loops and a homemade $10 turntable, to an L shape with little revision the the original as more space came available at new house to us.
As I hear it you only have three criteria: to utilize your beautiful village, a LionChief O-gauge train and some FastTrack from Lionel. You can add how much space you have or how big you want the layout to be. So now you get to chose how high the layout will be from the floor, how you might want the track run and what it is to do, how you will learn how to construct the layout (or who you know who can and will help or advise you). More are less an open book to work with.
Lots of us have more fun and joy in the planning and/or building the layout than running or showing it off to friends and family. Others just like to run or operate their layouts.
I am envious of you getting to build a new layout.
Have fun, learn and enjoy.
Charlie
