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For the hottest new trend in luxury home design, look no further than your ceiling. Interior designers are turning to the fifth wall to transform living spaces and create stunning visual appeal above each room. For those looking to deviate from the traditional white ceiling, here are a few stand-out ways to add a statement ceiling to your home!

Pop of Color
Once you warm up to the idea that color can be introduced to the ceiling, the possibilities are endless. Whether you want to add a simple splash from the rooms existing color scheme or go bold with a hand-painted pattern, youll have a surprising design element thats far from the ordinary. Keep in mind that darker colors can make a room feel smaller and cozier, while brighter shades will feel light and airy.

Get Creative With Textures
From exposed wood to custom plaster ceiling treatments, textures can add a whole new layer of depth to every room. Dont be afraid to incorporate unexpected materials, like fabric or tile, for a wholly original look. If you already have coffered ceilings, you can spruce them up with a fresh new color that brings out the detail.

Unique Lighting
Of course, lighting plays a big part in how the ceiling will appear. If youre going for a real showstopper, dramatic chandeliers or pendants will take it to the next level while illuminating the colors and textures even more vividly. Depending on the desired ambiance, lighting can create a soft romantic glow or command attention to the new focal point in your living room.

Wallpaper
Dont be deterred by the name”wallpaper can absolutely go on the ceiling! After seeing a surge in popularity, artisans all over the world are making exquisite hand-painted wallpaper that can elevate the fifth wall above your dining table. Tranquil landscapes, traditional patterns and custom-made designs are all in the realm of possibility.

Published with permission from RISMedia.

If you love to mix and match different styles, the eclectic look probably speaks to you. While its a fun way to create a unique environment in your home that reflects your personality, it can also be a challenge to avoid designing a space that feels chaotic. In order to successfully pull it off, here are a few tips to achieve an eclectic setting that maintains a sense of balance.

Look to the Pros
Before you get started, the best way to find inspiration is to do some research. You can easily find past projects from interior designers who are known for mastering the eclectic look, such as Muriel Brandolini and Martyn Lawrence Bullard. This will help identify what really speaks to you and start to form a foundation of your aesthetic.

Pick a Color Scheme
Eclectic rooms tend to have dramatic color schemes, but make sure the scheme is one that you can live with. Try to find a vibrant color combination that harmonizes to serve as the base, and once thats been decided, you can focus on adding more detail that plays off of the palette.

Dramatic Textures
Juxtaposing multiple textures is at the heart of this style and can often be a way of creating contrasts, like a plush, velvet sofa beside a shiny, metallic table. Being bold is a good thing, but its important to keep cohesion between the textures and colors in order to prevent the room from feeling overwhelming.

Introduce Layers
Throw pillows, area rugs and window treatments are the perfect way to accent the look with layers. Rather than creating more visual drama, these items should complement the room and allow the eye to fall on the focal points when someone enters.

Curate the Objects
Filling the room with a careful selection of objects will help to bring it all together. This is where you can get creative with putting antiques on display, arranging paintings in a whimsical manner, or curating a collection of trinkets. Think of it as the final step to creating a unique space that truly reflects your personality and tastes.

Published with permission from RISMedia.

A 30- or 15-year, fixed-rate mortgage with the same payment amounts each month is one of the most common ways to buy a home”but not everyone can qualify for a traditional mortgage, or has the money set aside for a sizable down payment so they can get a low-interest loan and have affordable payments.

Here are four non-traditional ways to be able to afford to buy a home:

1. Borrow from your parents: If you don’t mind possibly changing your relationship with your parents, ask them for a loan to help you come up with a bigger down payment so you can qualify for a loan. Hire a lawyer to write up a contract, and make sure the loan doesn’t appear as a gift, which would require a gift tax to be paid.

2. Parental co-signers: If your parents won’t loan you money, ask them to co-sign your home loan. This can improve your debt-to-income ratio, making you a better risk to the lender”but your parents should be aware that if you don’t make loan payments, they’ll be liable for them.

3. Borrow from a retirement account: If you have enough money in your 401(k) or IRA, you can borrow money from yourself if you use the money for a down payment on a house, or, you could use the retirement funds to show a lender that you have a lot of money in savings to make loan payments if you lose your job.

The downside is that if you’re 59-1/2 years old or younger and withdraw any of your retirement savings, you’ll pay a 10 percent penalty and will pay taxes on it. The money will have to be repaid within 60 days if you lose your job.

A Roth IRA is after-tax money, so withdrawing from it to buy a home means you’ll only be taxed on the earnings, not the full amount.

4. Insurance policy with cash value: Some life insurance policies allow policyholders to borrow against the principal or cash value, and the money can be used for whatever they wish, including a home purchase. The loan won’t have to be repaid”although not repaying it will leave a lower death benefit.

Whichever non-traditional strategy you use to finance a home, talk to your financial advisor and tax preparer for details on how it will affect your finances.

Published with permission from RISMedia.

If youre searching for a new home, you might want to consider looking in a subdivision. You could find a house with amenities that homes in other neighborhoods lack, but there are some downsides to consider.

What Are Houses Like in a Subdivision?
Houses in a subdivision were most likely built by the same construction company. Therefore, they will be around the same age and may all have a similar style, or a handful of styles may be repeated throughout the neighborhood. Theyll also probably be similar in size, unless some homeowners have built additions.

Homes in a subdivision may have some standard amenities that arent typically found in houses that were built individually and scattered throughout other communities. If youre looking for a master suite or a house constructed with the most energy-efficient materials, you may be more likely to find those features in a subdivision than in other areas.

Other Characteristics of a Subdivision
Subdivisions are generally built outside the center of a city. That means they may not be close to stores, restaurants, parks and other places you visit frequently. That could be a problem if you dont have a car, or you might wind up spending a lot more than you would like on gas and vehicle maintenance.

Houses in a subdivision are generally close together. That can be a good thing if you like to spend time with your neighbors and your kids make friends in the community. You may also feel safer knowing that other people are around and that neighbors can keep an eye on your home if you go on vacation. The proximity could be a problem, however, if you prefer privacy and your neighbors like to socialize.

A subdivision is often governed by a homeowners association. Fees are typically charged for maintenance, landscaping and insurance coverage for common areas, such as a community pool and tennis courts. The fees may be several thousand dollars per household per year. An HOA may have rules governing everything from the colors people can paint their houses to landscaping, fencing, use of yards, where vehicles can be parked, and when and how residents can decorate their homes. Some people like the fact that everyone is held to a consistent standard to maintain the appearance of the neighborhood, but others are frustrated by the lack of freedom.

Is Life in a Subdivision Right for You?
A house in a subdivision may have the amenities and sense of community you want, but it may also have an overwhelming number of restrictions. Before you decide to buy a house in a subdivision, make sure you understand the rules and discuss the pros and cons with your real estate agent.

Published with permission from RISMedia.

When a homeowner is struggling to pay a mortgage, a loan modification and a short sale are two popular avenues that can help the borrower avoid foreclosure. If a lender rejects those options, another possible solution is a deed in lieu of foreclosure, which transfers the title for a house from the owner to the mortgage lender in exchange for releasing the borrower from responsibility for the debt. A house does not need to be in foreclosure for a deed in lieu of foreclosure to be an option.

Is a Deed in Lieu of Foreclosure the Right Solution for You and Your Lender?
A deed in lieu of foreclosure allows both the borrower and the lender to avoid the expensive and time-consuming foreclosure process. It also allows the borrower to avoid the potential embarrassment of being evicted.

If you have home equity, selling your house would be a better solution than pursuing a deed in lieu of foreclosure. If you dont have any equity, a deed in lieu of foreclosure might be your best option. It would not be a good choice, however, if you have a second mortgage since the second lender could seek money from you for a deficiency. If you agree to a deed in lieu of foreclosure, make sure the document clearly releases you from liability to repay your mortgage.

Before you agree to a deed in lieu of foreclosure, make sure you understand the implications. It would appear on your credit report and could be just as damaging to your ability to obtain future credit as a foreclosure would be. You would not be able to purchase another house for several years. In addition, you might owe taxes on the canceled mortgage debt. You should discuss that with your accountant before making a decision.

Lenders are often unwilling to accept a deed in lieu of foreclosure if the homeowner is current on the mortgage. In those circumstances, a lender could make more money by going through the foreclosure process. In addition, any liens that were filed against the property by other creditors would become the responsibility of the lender, unless the agreement stipulated that the lender was not responsible for the liens. Some loan guidelines do not allow a deed in lieu of foreclosure.

Think Carefully Before Choosing a Deed in Lieu of Foreclosure
If youre unable to pay your mortgage, a deed in lieu of foreclosure could allow you to walk away, but it should only be used as a last resort if other solutions are unavailable and if youve accepted that youll lose your home one way or another. Before you consider this option, explore other possible solutions.

Published with permission from RISMedia.