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Multi-generational living spaces are seeing an increase in demand. Here are four features that lend themselves to multi-generational living.

Separate Living Areas

Whether its a fully-equipped guesthouse or an in-law suite with a kitchenette, multi-generational living is much easier with separate living areas.

Flex-Spaces

A versatile layout that can be adapted to meet a variety of needs is always appreciated. A flex-space allows you to get the most out of your home.

Two Master Suites

If you dont need an entire separate dwelling, this feature can make a huge difference.

Adjoining Units

For city dwellers, one popular solution is to purchase adjoining units in a building and knock down the shared wall.

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Its official: Wet rooms are a rising trend in luxury bathroom design. For years, theyve been used as a solution when space was limited, but this style is increasingly being seen in high-end homes for many reasons. Before we dive into them, however, you might be asking yourself, What exactly is a wet room?!

While they can vary in design, wet rooms are bathrooms that tend to include a shower area thats not completely enclosed. Sometimes, there may be a glass panel that separates the sink and toilet from the shower and bath, but it still maintains an open-concept feel. If this sounds like something you might be interested in bringing into your home, here are a few things to know about wet rooms:

Surprising and Stylish
For starters, if youre putting your house on the market in the near future, a luxurious wet room can be a pleasant surprise for potential buyers who appreciate a fresh, modern design that breaks the mold. With no curtains, doors or shower trays, the clean aesthetic provides a spa-like bathing experience, and whats not to love about that?

Functional
An open-concept shower and bath area has numerous functional advantages. Being more easily accessed than a traditional shower, wet rooms can be a great option for elderly couples who are concerned about getting in and out of the shower. Additionally, wet rooms are often easier to clean because the entire bathroom can be sprayed down and a slight gradient in the floors allows it to effectively drain.

Efficient Use of Space
If you dont have the space for both a soaking tub and a separate walk-in shower, this can be a great solution. By breaking down the divider between the two and simply turning it into a wet room, your bathroom will feel more open and fluid.

Bring in a Pro
Although theyre easy to envision, wet rooms certainly require professional expertise to install correctly in order to avoid exposing your home to water damage. Working with a designer will ensure your bathroom is fashionable and functional.

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If theres one part of a home where you can cut loose and have fun, its the game room. Whether youre a pool shark or board game enthusiast, having a designated area to spend leisure time with friends and family is a luxury that cannot be overlooked. While these recreation spaces can be a challenge to design, here are a few helpful tips that will have you on your way to hosting the ultimate game night!

Identify Your Space
A large, open area tends to work best for a game room because it allows you to set up distinct spaces for different activities and is conducive to entertaining. For this reason, game rooms are often located in finished basements or converted attics, but they can really be located in any part of the house depending on your needs.

Consider the Games
Once you know the area and layout of the space, the next step is to assess how you plan to use it. Will you need room for billiards or a ping pong table? Maybe a felted card table or a board game area? Whatever it is your family enjoys, try to make the most of the room and have something that everyone will have fun playing together.

Pick a Theme
Having a theme will set the mood for your game room and make it an exciting place to entertain friends. You can go wild with your imagination and recreate a vintage arcade from your childhood that the kids are sure to love, or go for more of grown-up vibe with a sports bar or casino theme.

Functional Decor
Because game rooms are often used as a multipurpose space, its ideal to have furniture that can swivel or be moved around the room easily to accommodate groups of all sizes. Ample shelving and storage space are also important since therell likely be lots of odds and ends piling up, like ping pong paddles, poker chips, board games and more.

Refreshment Area
Whether its a wet bar or a kitchenette, having some sort of refreshment area is a major bonus thatll come in handy when youre hosting game night. After all, you dont want to miss your turn just because you had to run all the way back to the kitchen to make a cocktail for one of your guests!

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From breathtaking gardens to verdant outdoor living areas, here are a few reasons to invest in your landscape design.

Curb Appeal

Working with a professional landscape designer is a guaranteed way to increase your homes curb appeal.

Better Views

Whether youre using lush plantings to create privacy or designing formal gardens, you can easily improve the views throughout your home.

Improved Outdoor Living

Your landscape design should meet your lifestyle. That might mean a lush entertaining area, a beautiful garden, or incorporating a playground for the kids.

Increase Property Value

According to the American Society of Landscape Architects, landscape improvements can return 100-200 percent of their cost when a house is sold.

 

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Coming up with enough money for a down payment is a struggle for many people, particularly first-time homebuyers. Family members and others often want to help. If youd like to provide money for a down payment as a gift, be sure that you understand the guidelines, required documentation and potential tax implications.

Why Do Lenders Care About Sources of Down Payment Funds?
A mortgage lender will want to know where a borrower got money for a down payment. If someone received a large sum of money from another person, the lender will want to know that the money was a gift, not a personal loan thatll need to be repaid and that could cause the borrower to be unable to afford the mortgage.

Underwriters will want to know the source of any large deposit in a borrowers account. Some lenders define a large deposit as a single deposit thats more than 50 percent of the total monthly qualifying income for the loan, while others verify deposits that are more than 1 percent of a homes adjusted purchase price or appraised value. In some cases, an underwriter will verify the source of any larger-than-usual deposits, no matter how much money the borrower earns or how much the house costs.

Who Can Provide Money for a Down Payment?
All lenders allow gifts from family members, but various lenders have somewhat different definitions of who is considered a family member. Some lenders allow gifts from employers, labor unions, charitable organizations, sellers, builders, developers and real estate agents.

Although the amount that can be given as a gift is not limited, a lender may require a buyer to provide a percentage of the down payment from personal funds. The rules depend on whether the home will be a primary or secondary residence, whether its a single- or multi-family house, and the type of mortgage to be obtained.

Documentation and Taxes
If you give someone money as a gift for a down payment, the lender will require a letter including your name, address, phone number, and relationship to the borrower, as well as the amount and date of the gift, the source of the funds, and a statement that the money is a gift and that you dont expect to be repaid. The letter should also include the address of the property to be purchased and your signature. You should keep detailed records showing exactly where the money originated and how you transferred it to the recipient.

If you give someone a gift for a down payment, you may need to pay taxes on the money. Check with an accountant to find out if youll owe taxes and how much.

Be Informed Before Giving a Gift
Giving money for a down payment can help make a loved ones dream of owning a home a reality. If you want to provide funds as a gift, make sure you understand the lenders rules and the applicable tax laws.

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

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