It would be glorious. We would make that much progress its not funny. Money would go out the window, there is no need for it if we can all work together, which a ton of mes would be more than happy to do. From there, we would begin to transform large mansions into more practical sizes, large enough to live comfortably, and sturdily built, but with nothing to make it look good or anything, as that is not necessary. From there, we would begin to move in from the rural areas into the cities even more so than today. Transport systems would definitely have to be improved, however once we've cleared enough of the suburbs, we would convert them into farming land.
Once semi-sustainability was achieved, and we were able to feed everyone and still have some food left for storage, we would put in place breeding plans and population redistribution to ensure that a sustainable population of the perfect size for an area was established. Areas that needed more labour, would get more people. Areas that needed less, would get less.
After that was established, and infrastructure was upgraded to satisfactory levels, we would begin research. Research into longevity and against diseases, and into exploring where we haven't yet been, mostly space. Everyone who was not managing physical labour, performing physical labour, or ensuring machines that performed physical labour worked properly, would be working on that research.
We would at first work on small steps; constructing a proper space station with artificial gravity formed by centrifugal force, then, we'd move onto the more complex things; spacecraft that fly at a reasonable speed with minimal fuel and low danger of damage from impact with anything. Then, we'd get to work on colonising Mars and the moon, to a certain extent. Mostly research bases and extra agricultural areas. Once that was done, we would begin on the grand project of an interstellar craft. First a manned one to begin heading out into the void. By then we;d have hopefully found a habitable extrasolar world, but if not, then we'd have to make do with the nearest star system. Colonise that with a small group of people, and have them research their observations at this new point in the universe for humanity.
Whilst that ship was in transit however, we would begin building an unmanned interstellar, possibly intergalactic (Or an attempt at) ship that would travel at high speeds and record data that it would send back to us either through constant transmission, or quantum entanglement, depending on how far technology has advanced by that point.
Once all that is done, we'd remove the regulations on sustainable populations, and allow any amount of children for each family. We'd restart the entertainment businesses, though there would be no reality TV shows or anything, mostly games that would have unlimited resources and unlimited time for development as only those who wanted to make games would make games, and many would want to make games to try and get the creative ideas we have out of our heads.
So... in short, I would turn the whole world into a group collective Communist world (No defined leader, we all think alike so we can lead ourselves. There would be overseers, but their job would be to find out what we need more of, not make sure everyone is doing everything 100% right and is 100% dedicated to communism or any of that dictator shit. That would be impractical and counter-productive; something we would not accept when we have a goal.