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Decorating for a Small Space

For first time homebuyers and baby boomers looking to downsize, condos and smaller homes can be a viable option. 

They require less maintenance and support a more financially and environmentally sustainable lifestyle making them attractive to both the budget conscious and those with an active, socially aware lifestyle. Still the question inevitably arises, where do I put all my stuff? Here are some tips for decorating and visually "enlarging" small spaces.

These cellular shades add style but not bulk!

Windows

When dressed correctly, windows can be a strong tool for visually enlarging a small room. Leave windows bare or dress them with draperies that match the color of the walls to open the space. For privacy, install simple shades or blinds that can be pulled out of the way during the day. In addition, to make windows seem taller, hang draperies just below the ceiling; to widen windows visually, extend draperies beyond the window frame.

Furniture

If your space is too small to meet all your needs, make it multi-task. A sofa bed is a great way to accommodate guests without a guest room. For more storage hang floating wall shelves in favor of standing shelves. Use an ottoman with storage inside to hide away papers and knick-knacks. And choose a drop leaf table with wheels that can expand to accommodate more diners or partially collapse and be easily moved out of the way when not in use.

Small spaces are quickly overwhelmed by large or overstuffed furnishings. Choose neatly upholstered pieces with compact frames and slimmed-down, leggy pieces without skirted bottoms that allow you to see through them to the walls and floors.

The epitome of small space comfort, a day bed.

Create a sense of movement and make a room feel larger by floating big furnishings away from walls. Allowing air space between the wall and seating pieces gives the impression of depth and more room. Another option is to place furniture in the corners of rooms at an angle and use the space behind to stash baskets of extra linens, toys, crafts supplies, or whatever else you need to store.

Add round elements to a small, square room. Soft edges, instead of rigid corners, turns small into cozy.

Accessories & Color

To give a room the illusion of spaciousness use white or another light color on the walls. White surfaces bounce light around the room, keeping a small space feeling bright and open. Use dark accent pieces to anchor the space without constricting it. And don't underestimate the power of a few well placed mirrors!

When it comes to small spaces, too many colors can be chaotic. Select a few and stick with them. Painting the single wall a dark color also creates the illusion of

Go big and go...home!

depth in the room. And be careful not to fill a small room to the brim with accessories. A handful of well-chosen and well-placed accessories is all it takes to give a small room a layer of sophistication.

One oversize piece of art can create a strong focal point that actually opens a small room. To the contrary, multiple pieces scattered around the room make the room feel cluttered and small.

Small spaces have every bit as much potential as larger spaces, they just require a different mindset. But what they lack in size they make up for in comfort and coziness, so have fun and explore all the creative ways there are to dress up and diversify the functionality of your home!

Location, Location, Location!

There's an old joke that says the three most important things about real estate are location, location, and location. Well, it's not much of an exaggeration. And there's a reason that location matters: your lifestyle.

 

Some require a city lifestyle and would be interested in this upgraded downtown Burlington townhouse.

 

Everyone is different. We all have individual preferences about the simplest things when it comes to our housing: urban vs suburban, big vs small, old vs new, etc. And we all have different needs based on our jobs, our family status, our incomes, and hundreds of other factors.

Each of these in turn affects our choice of a location. Do you enjoy a commute along winding country roads? Do you want to live in an older neighborhood filled with children? Do you enjoy keeping horses? Do you want to step into cross-country skis behind your house on a winter morning? Do you want a trout stream within half an hour's drive? Does your partner need a gourmet kitchen?

Keep It Simple

The easiest thing to do is make a list of your family's hobbies or interests. Think about those things that you might enjoy even more if you lived in a different place.

This list makes a great tool when you sit down with a real estate agent. An experienced agent who knows Vermont well will understand your goals and help you think about locations that will help you achieve them.

And Vermont is a beautiful state to live in! For more information on our state, please visit www.vermont.gov or www.vermont.org.

Can You Afford That House?

Banks and mortgage brokers use several different ways to decide how much home loan you can qualify for.

The first step is to declare your income and any other assets you have. Then they'll want to know about debts and obligations and the size of the down payment you hope to make on your new home.

Given all this information, there are two ratios used to determine your loan limits. The first number is 28%. This means that your total projected housing costs (mortgage payment, taxes, and insurance) should be no more than 28% of your gross monthly income. As an example, a family with an income of $10,000 per month could afford a monthly housing cost of about $2,800.

The good news is that there's a certain amount of flexibility allowed. A lender might make a larger loan if you make a larger down payment since it means that you are putting more of your own money into your investment and are less likely to default. There are also special programs available to first-time buyers and several ways to structure loans that make them easier for buyers who are just starting out and expect their incomes to increase. Adjustable rate mortgages can also make sense for some buyers, depending on how long you intend to stay in your home, whether rates are going up or down, and a variety of other factors.

Reduce Your Debt

The other number is your total debt (student loans, car loans, credit cards, etc.). Lenders analyze the ratio between your total monthly obligations and your income to help them decide how much money you should allow for monthly housing expenses.

Pre-qualifying for a home loan is an important first step in the home-buying process since it means that any purchase offers you and your realtor present will be taken seriously. Ask your real estate agent for a list of recommended lenders in your area.