Should I get a futon or a bed?

you could get a bunk bed with a futon on the bottom..sleep on the top bunk, hang out on the futon.

BED! Sleeping on futons suck. And the more you sleep or use futons, the flatter the pad goes and it becomes very uncomfortable very fast. Consider a daybed. It can function as both a sofa and bed (only use a mattress, not a boxspring). And your guests can use it to sleep on and it won't kill their back.

Defintitely a BED. Maybe consider a "daybed" or Trundle bed. they are basically the same - except the Daybed usually has drawers/storage underneath, while a Trundle bed has a roll out or pop 2nd mattress that can be used with the main mattress as a KING size, or separately as 2 twins, in case you have guests. Plus - you can get cool sheets for a twin, and leave them on - rather than having to remake the bed everytime it goes from futon(couch) to bed.

BED. No matter what you do to a futon...it will never be comfortable. I promise you, if you get a futon you will regret it... You can always get a bed frame for a daybed...that way it's still a welcoming place to sit. Daybeds usually come with storage drawers underneath...which would be helpful in a room with limited space.

futons suck get a real bed