bassinet vs crib

We have a TINY 2br cottage, and baby will share our room until she's old enough for big brother's bunk bed. A friend gave us this bassinet, and I'm wondering how many of you are using one versus a traditional crib? There is room for a crib, but I'd rather use what we have, since money is tight. I was also thinking of adding that pretty mosquito/princess netting around it, hanging from the ceiling, to differentiate the space, since she won't have her own nursery. What would you all do?