To get great PQ out of a projector you need a dedicated room. People put projectors in average living rooms all the time and love them but honestly the difference between a $1k projector and a $4k projector in an average living room is not that great. If you have no experience with a projector I recommend something like a BenQ HT2050a for under $1k to get your feet wet and see if a projector will work for you. Although only a 1080p projector it has decent black level and very low gaming lag that all the 4K DLP's lack. If it really works out well and if you want to upgrade with it's resale value it will only cost a few $100.
"Smart enough to know better, to old to care" ------ Dedicated Bat Cave Home Theater, JVC RS49U/Mitsubishi HC7900DW Projector, 110" 16:9 Jamestown screen with variable power masking for CIW 2.50:1 to 16:9, Marantz 7009 with 7.1.4 Atmos with Ohm mains,3 DIY Subs (2 15" (1 ported, 1 sealed and a 12" 4th order bandpass), 1 DIY butt kicker, Custom Built HTPC, 18TB DroboFS NAS