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You want your home to look luxe, but your bank account has other ideas. Fortunately, you don’t have to spend a lot of money to make it look like you did. With a little ingenuity and these tips, you can transform your home into a posh palace:

Splurge on Focal Pieces. You may not be able to break the bank on every item in your home, but consider splurging on attention-grabbing pieces. For example, a high-quality leather chair and fancy wallpaper on a prominent wall are good ways to spend money strategically. With these elements in place, you can be more budget-conscious with other purchases.

Layer Rugs. Rugs are a cost-effective way to add warmth and style to a room. To create a custom look, layer rugs beneath a furniture grouping. For example, use a large, rectangular sisal rug in a neutral color as the anchor. On top, place an animal print rug or use a series of brightly colored rugs in geometric patterns to create interest.

Employ Wainscoting and Trim. There’s no way around it. Wainscoting, crown moldings and other types of custom trimwork make a home look elegant. Fortunately, they’re not terribly expensive to install, especially if you have the tools and know-how to do it yourself.

Use Paint to Your Advantage. Paint is not only affordable, but also transformative. Simply painting walls a sophisticated color will achieve the high-end look you desire. Paint can also transform thrift-store furniture and decor. Use chalk paint to distress a vintage table or a metallic spray paint to refresh picture frames or decorative elements.

Opt for Luxury Vinyl Plank Flooring. Love the look of hardwood, but can’t afford the price tag? Luxury vinyl plank flooring is an affordable alternative. The best part? You can probably install it yourself, which means you don’t have to pay labor costs.

Copy a Look You Love. During your window shopping trips, you’ve probably discovered furniture, light fixtures or other design elements that are way out of your price range. That’s fine! Snap a photo so you can recreate the look for less. A quick search on social media sites may reveal similar ideas. Or hit the thrift stores and flea markets to find raw materials for your design hack.

Fake It ’til You Make It. Expensive homes often have soaring ceilings. Your home’s ceilings may be decidedly lower, but you can make them look higher. Just hang your curtains closer to the ceiling than the window frame. This creates an optical illusion that makes the room seem taller.

Don’t Overdo It. Adding too many elements to a room will cheapen the look. If a room appears too cluttered, remove some knick-knacks, pillows or books. Remember, less is usually more when it comes to interior design. You’ll end up with a more sophisticated space that feels light and airy instead of cramped and busy.

Making your home look like a million bucks doesn’t have to cost a fortune. You can achieve a high-end look for less using some creativity and these tips.

Source: Alexanian

Published with permission from RISMedia.

The exterior of your home is always a huge factor for potential buyers who will envision themselves enjoying the outside area, entertaining friends and family while kids play in the yard.

Thats why when prepping a home for a showing, its smart to think about the outdoors. That could mean power washing the deck, clearing driveways, or even planting flowers. The one area you definitely wont want to neglect is the lawn itself.

The positives of a well-maintained yard are myriad and its important to get your grass in tip-top shape before showing your home.

When it comes to growing grass, consistent care is key and failure to invest in long-term turf care can open the window to any number of problems in your lawn. Its also important to give your grass the fertilizing lawn care and control treatments it needs based on the season. Lawn care for growing grass in summer, for example, is different than the needs come fall. Make sure to sweep any fertilizer that lands on driveways and sidewalks back on to the lawn.

An important component is to properly water the lawn, and it is better to water deeply”down to at least six inches”and less frequently, than lightly and more often. If your lawn dulls in color or begins to wilt, then your lawn needs water.

The way you mow your lawn can also make a difference. You never want to remove more than one third of the total blade height when mowing, or you could chop off the food-producing parts of the grass blade and end up with a brown lawn instead of a green one. You should also leave grass clippings on the lawn to help recycle important lawn fertilizing nutrients.

Grass also acts like a natural air conditioner that cools the air as it releases water vapor through its blades. The water evaporates and draws heat, cooling the air in the process. As a result, lawns are a safer surface for children to play on and provide the cool comfort we desire on hot days. Those are selling points that can help any home sale.

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Whether youve got a litter of kids or a baby on the way, childproofing your home is a preventative measure no family should go without. The U.S. Consumer Product Safety Commission (CPSC) recommends a number of safeguards to make your home an environment free from hazards. Here are five of those tips to help maximize child safety at home.

Window Guards. Open or unlocked windows can be hazardous for any member of your household. To avoid injury or worse, install a window guard with sturdy bars securely fastened to the frame. And be wary of window treatments that operate with a cord”younger children especially may think the dangling string is a toy. If possible, go cordless.

Interior Gates. To restrict access to stairs or areas that are off-limits, install a safety gate. Before purchasing a product for your home, measure the access point to ensure the gate fits securely. The CPSC advises using gates without a V-shape design so a child wont become trapped.

Locks and Latches. Prevent children from entering barred rooms, closets or cabinets with locks or latches that only adults can access. This is particularly crucial for under-sink cabinets and kitchen drawers, where chemicals, like bleach, and sharp objects, like knives or scissors, are typically stored.

Outlet Plates and Covers. Outlets without plates present a danger to both children and adults, so be sure plates are secured to every outlet in the home, especially ones near the floor. Outlet covers, which are inserted into the prong slots, can deter small fingers from accidental shock or kids from sticking objects into the outlets. Try removing the covers to test them”they can potentially become a choking hazard if they come loose.

Pool Safety. Theres a reason why pools require additional insurance coverage; they present a much higher risk than many other features at home. Pools must be enclosed with a fence no lower than four feet high, with a gate that self-closes and self-locks. Inspect the fence to ensure there are no gaping holes. In addition, the CPSC encourages a comprehensive protection layer that includes an alarm and a power safety cover.

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Being turned down for a mortgage can be devastating, but you may still be able to achieve your dream of owning a home. Your lender should provide you with a letter explaining why you were denied. You can use that information to make changes to improve your chance of getting approved for a mortgage in the future, either with the same lender or with a different company.

Boost Your Credit Score
One of the most important factors in a lenders decision is a mortgage applicants credit score. You shouldve checked your credit report for errors before you submitted your loan application, but if you didnt, check it now. Lenders frequently misreport or fail to report information, and data from different peoples reports sometimes gets mixed up. Errors in your credit report may have caused your application to be rejected through no fault of your own.

If your credit score is low because of high credit card balances or missed or late payments, work on bringing it up by paying down your balances to lower the percentage of available credit youre using and by paying all your bills on time. If you have a foreclosure or bankruptcy on your credit report, those derogatory remarks could affect your credit score and your chance of obtaining a mortgage for years. You may need to let some time pass and work on rebuilding your credit before buying a house.

Lower Your DTI
A lender looks closely at an applicants debt-to-income (DTI) ratio, or the percentage of gross monthly income thats used to pay credit card bills and loans. If a lender rejected your application because your DTI is too high, you can lower it by paying down your debts and/or by increasing your income. If you have high loan payments, you might be able to lower them by refinancing.

Put More Money Down
If you want to make a small down payment and borrow most of the money for your dream home, the lender may consider your application too risky. You might be better off finding more money for a down payment or applying for a mortgage through a lender that routinely offers loans to borrowers with small down payments.

Stick With Your Job
Most lenders want a mortgage applicant to have been in the same job for at least two years. That helps the lender be confident that an applicant is capable of holding down a job and is likely to repay the mortgage. If you recently started a new position, focus on impressing your boss and building a stable work history.

Dont Give up Hope
If youve been denied for a mortgage, find out why the lender turned you down and take action to address the issue. Youll have a better chance of qualifying if you work on improving your financial circumstances. You can also submit another application to a different lender that has more lenient terms or that offers mortgages for people in circumstances like yours.

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Many people dream of owning a home but feel overwhelmed by the idea of saving tens of thousands of dollars for a down payment. In some cases, borrowing money for a down payment can be a smart move, but there are some important caveats to consider.

When Does It Make Sense to Borrow for a Down Payment?
Many lenders require buyers who put down less than 20 percent of a homes purchase price to obtain private mortgage insurance (PMI) to protect the lender if the buyer defaults. PMI can cost hundreds of dollars per month, on top of mortgage payments, and needs to be paid until the homeowner has 20 percent equity. If you put down 20 percent, youll be able to avoid PMI. If loan payments would cost less than PMI, borrowing to make a large down payment might make sense.

Potential Sources of Funds
If you own another property, you might be able to use a home equity loan or a home equity line of credit to finance a down payment. The interest rate would probably be relatively low, but using your current home as collateral to buy a new one would mean you could lose both houses if you were unable to afford all your payments.

Another option is to take a loan from your 401(k). You could get a low interest rate, but you could also lose a substantial amount of potential savings since any money you withdrew would not be able to accumulate compounded interest.

A personal loan could be quick and easy to obtain and could have a much lower interest rate than credit cards, but it would raise your debt-to-income ratio. That could make a lender reluctant to give you a mortgage.

A variety of federal, state and local programs can help homebuyers secure loans with favorable terms, as well as down payment assistance. Since many of those programs require low down payments, you could buy a house, but you would have to pay for PMI since your down payment would be less than 20 percent. Depending on your circumstances, you might or might not be better off borrowing money from another source to put down 20 percent.

Borrowing money from family or friends could help you avoid high interest rates and have a flexible repayment schedule. Before you take a loan from family or friends, make sure you can repay it. Failing to meet your obligations could cause irreparable harm to your personal relationship.

Weigh Your Options
PMI can significantly increase monthly housing costs for years. If you can put down 20 percent and avoid PMI, you may save thousands of dollars in the long run. You might be able to borrow money from several sources, but think carefully about the pros and cons. Discuss your options with a financial planner and your real estate agent.

This article is intended for informational purposes only and should not be construed as professional or legal advice.

Published with permission from RISMedia.