First of all, a barn or some closed off space is 10x better than in your own house, shit will get broken, stolen, and ruined. If you don't have a barn, a garage, a lawn, a porch, even a basement is better than your own living room. Let me reiterate: DON NOT HAVE MORE THAN 30 PEOPLE IN YOUR OWN HOUSE.
1.) Girls
Before you even start thinking, about thinking, about planning the party, make sure you know enough girls that will be down with coming so that the ratio is somewhere from 2:1 to 3:2 guys to girls, respectively. By this I mean constantly be chatting up girls and throwing around things like "hey I might be having a party soon" or "my friends and I might have a little get together sometime in the futures." Note* this will not be necessary after you establish a reputation of not being a total loser, accomplished by actually having good parties. Then, when it is actually time, invite every single girl you can, I cannot stress how import this is, as evident by the 2:1 or 3:2 ideal ratio. Without girls, no one is going to come, I promise you.
2.) Alcohol
Believe me, I've been there, buying is a pain in the ass when your underage. But, you need to establish a hook up, whether its your older sister's boyfriend, some random from two towns over, or (if you lucky) a store that will sell to you without ID.This is the MOST IMPORTANT part. I know I ranked girls first, but if there is no alcohol, they will most likely leave, and you will spend the night drinking a fifth of cheap vodka, crying yourself to sleep. My suggestion is to buy a couple nicer bottles, so that when everyone shows up they think it's classy shit, but then have the majority of your stock be whatever the fuck you can find for cheap. After everyone is drunk, no one is going to give two flying fucks what they are drinking, considering that they can no longer taste it anyway. No booze, no party.
3.) Music
You have a couple options, either you have a really nice system, you buy a really nice system, or you become really, REALLY good friends with someone who has a really nice system. It does not matter if it's a massive sony ihome, or a floor standing Klipsch stereo, as long as it is so loud that you can feel the floor shake, from the other side of the room, it's good. I wouldn't worry too much about the playlist because people will most likely be changing the music or using their own anyway. Side note* this is where said friend with really nice system comes in handy, because he will most liekyl have good music as well. Also included in this category is lighting. Even one or two strobes and a laser make a world of difference. They don't have to be coordinated, or really powerful, just there.
4.) Miscellaneous
Drugs will be brought, more alcohol will most likely be brought, weed will be brought, and friends of invitees will be brought. Reinforcing each category.