 | | | | | | | The way Americans use their homes has changed since the advent of the pandemic and has encouraged interior design trends for 2022. These ideas are so smart, they’re likely to stick around even after the pandemic is over. Smart furniture – According to Puffy.com, the smart furniture industry is on track to reach $244 million by 2024. Televisions can double as artwork when turned off, couches, beds, and chairs offer charging ports, but most exciting are coffee tables that come with refrigerator drawers so you never have to leave the game to grab a cold one. Muted but colorful décor – Color palettes for 2022, such as those suggested by Benjamin Moore, are calling for blue, green, and yellow colors on the paler side, far from the dark and moody jewel, spice, and deep ocean shades of recent years. Vintage accents – Whenever life seems chaotic, homeowners become nostalgic for simpler times. Housebeautiful.com explains that vintage furniture and accessories feature craftsmanship, materials, and a flair for individuality that can’t be duplicated today. Large floral patterns are great to pair with stripes or abstract fabrics. Multifunctional room design – Working from home makes, homeowners want more space, but Brick.com says that space should be more flexible. The room where you put your desk may also have an integrated workout area. Curved furniture – Room design, furniture, and accessories will feature elements that feel like a soft comforting cuddle, says 2modern.com. Rounded edges are a welcome change from the geometric look of modern furniture. | | | | | | | | | As a world traveler, you may revisit a country area again and again for its beauty, culture, people or lifestyle and decide you’d like to buy a second residence there. For your first step, The Philadelphia Inquirer recommends hiring a property lawyer in the country where you want to buy, as well as having a lawyer stateside to advise you. Some overseas countries don’t allow noncitizens to purchase real estate, while others allow it, but they may have visa restrictions on when you can enter the country. Most U.S. banks won’t lend money for foreign home buying, and some places either don’t have mortgage lending available, or they impose higher interest rates or require hefty down payments of 30% to 50% of the property’s value, according to Investopedia.com. Transaction costs may be higher than stateside, including property transfer fees or stamp duties that can add 10% or more to the sales price, as well as other fees. If you qualify for an overseas loan, you may be required to carry life insurance with the lender as a beneficiary. Ironically, the interest you pay on your foreign home’s mortgage may be tax-deductible in the U.S., if the principal is $750,000 or less. In 2025, the ceiling is scheduled to rise to $1 million. Check with your tax advisor for more specifics before committing to the loan; the actual amount available for deduction can depend on individual factors. Berkshire Hathaway HomeServices is expanding its services across the globe, and currently has offices in Canada, Mexico, Germany, England, Italy, Spain, Greece, Dubai, Bahamas, and India. Contact your Berkshire Hathaway HomeServices network professional for a referral to an overseas affiliate. |
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