"We cleared out a bedroom, actually not a bedroom, it was my aunt and uncle's old stuff," O'Connell, 34, told PEOPLE at Saturday's The Hills: A Staged Reading at Hollywood's Upright Citizens Brigade Theater.
"I had my computer and video games in there. That got cleared out for the kids. So, I'm wondering what I'm going to do with my video game stuff. But, maybe that goes out the window when you have kids."
O'Connell (who played The Hills star Brody Jenner in Saturday's show) and wife Rebecca Romjin are expecting their first children – twins – come early winter. Learning about the early stages of parenthood has been a crash course for the pair.
"Baby-proofing the house, but it's mostly getting the nursery ready," O'Connell said about their activities. "It's another room. We've got a couple cribs and stuff, so that's about it."
Help from In-LawsThe couple will be getting a hand from Romijn's mother Elizabeth, O'Connell says. "Her mom is going to come stay with us. I'm sleeping on the couch – I'm kidding, no – clutching the video-game system. No, I'm joking. A lot of people are getting us ready for the first couple months."
Self-deprecating as ever, O'Connell says he's been relegated to last-minute assistance mode, helping when asked.
"She's feeling good," O'Connell said of Romijn, 35. "I think as a husband, you feel a little jittery because at this point you have to just be there to help out as much as possible. Get food, make sure all the DVDs are rented. I'm sort of in a position where I have to assist at this point. So, it's a little nerve-wracking in that sense that I can't, as a guy you want to be the one that's carrying them. You're not."
As for Romijn: "She's great. This is a really happy time for us, it really is."
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