Shannon Regan Quidley

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My Blog

Want To Create That Farmhouse Feel?

6/28/2022

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Farmhouse décor has been a trend for the last decade. The look combines functionality with a relaxed, lived-in feel. Pieces look slightly worn, rustic, and inviting. The ease of the farmhouse style is one of the reasons for its lingering appeal as designers look to modernize and update the look. Modern Farmhouse style continues to emphasize a neutral color palette and sustainable materials, such as reclaimed wood and used brick but adds more sophistication to the them.

Capitalizing on the boho trend, the Modern Farmhouse style might include accent pieces in wicker or kilim rugs and pillows, warming the room and merging it with more traditional elements. Contemporary designs such as Industrial and Scandinavian also get an update when mixed with Modern Farmhouse. The bright, light rooms of a Scandinavian Farmhouse look might include a rustic kitchen table or distressed flooring. While cold, Industrial design adds warmth with a sliding barn door entry or rich leather chairs. Inexpensive accent pieces also get an update when mixed with Modern Farmhouse which makes it a great choice if you are on a budget!  The farmhouse style focuses on comfort, practicality, and an informal lifestyle. Today’s family enjoys this kind of living environment because it offers an easy and flexible design.  If you are looking for ideas and inspiration on how to incorporate the Farmhouse style with the furniture you already own, check out these websites:

https://www.spacejoy.com/interior-designs-blog/farmhouse-style-design-rules


https://homemadelovely.com/what-is-farmhouse-style


https://www.homesandgardens.com/spaces/modern-farmhouse-style-224002

401K To Buy A Home?

6/8/2022


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Buying a home can be a financial stretch. With soaring home values and rising interest rates, many potential first time home buyers find saving for a down payment increasingly difficult. For many people, the main source of savings is in the form of a 401k and tapping into this resource for a home purchase is one way to find the down payment necessary to finance a new home; but should you use your 401k to buy a home? Experts are conflicted.

A 401k is a retirement savings plan offered by employers which takes pre-tax earnings and deposits it into an investment account for use in retirement. The money in a 401k account can be accessed by either taking out a loan against the balance or by a straight withdrawal. A withdrawal before the age of 59.5 is also subject to a 10% penalty.

Taking out a loan from a 401k account may be a viable option for potential home buyers. For one thing, a loan from your 401k should not count against your borrowing power. You also don’t need to qualify because you are borrowing from yourself. The amount you can borrow is limited, for example 50% of the balance, and typically must be repaid within 5 years. The other option is a simple withdrawal; the 10% penalty is incurred, but the value is not usually limited.

Saving for a down payment can be challenging. Using your 401k to help may be a great option. Speak with your financial advisor and see if this is the right financial move for you.


article and photo courtesy of AgentCrate

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