How a Condo Can Look Luxurious on a Budget

by admin on April 24, 2012

No, a luxury budget condo actually isn’t an oxymoron. Luxury is not the same as throwing money at the latest, most expensive furnishings that you have heard are in style. You might have been to Canadian homes like this. Obviously, the owners are wealthy and proud of it, so they stacked the home with every luxury item you can think of – an African-inspired decorative art piece standing atop a rich, plush Persian carpet and other examples of overdoing it from an aesthetic viewpoint. Luxury is style, luxury is elegance, and as we know, those are two things that cannot be bought.

The first step is knowing just how much space you really have at your disposal. You should therefore take measurements. This must be done so that you have at least a rough idea of the size before you go out to get furniture. Nothing is more frustrating than being delivered the wardrobe of your dreams and finding out that it can’t fit through the door. You have probably been to homes where you could barely keep from asking the owners how a given piece of furniture actually fit in there. It was not easy, they’d say with a sigh. 

Everything is a matter of proportion. Do not get a huge dining table flanked by six toddler-size stools. Luxury is synonymous with balance. This means your furnishings should have a healthy relationship to form an elegant whole. You can opt for either symmetrical or asymmetrical balance. Symmetry is easier to achieve – all you need is two of everything. Asymmetry is used to express visual motion and excitement. It is harder to achieve. Asymmetry means having all your furnishings in two colors – a tiny splash of black and the rest predominantly white, or in terms of decorations, having two candles very different in size next to each other.

Having plants all over your condo will brighten the atmosphere, lift your mood, and make your living space look luxurious. You can grow flowering plants or buy exotic flowers like oriental lilies, violet calla lilies, or orchids. Exotic flowers send a message of rare beauty, style, and adventure.

Finally, adding sconces to your living space is a great idea. You can mount them on the walls for warm ambience and more subtle illumination. They complement the décor, finish the space, and bring human scale to any room, points Joe Rey-Barreau, interior design professor at the University of Kentucky.

What is best about all these tips? They are easy to implement – first of all, you do not need to be a master of the art of Feng Shui or an expert on classical Western interior design. Next, you do not need to make 10Gs a month or to borrow on your credit line to utilize them. And that is the most important advantage of all!

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According to experts, getting a windfall, be it money won, inherited, or earned, can be a traumatic experience, which is stressful and isolating. Such people experience trauma-like symptoms, and some of them get suspicious and paranoid. They are sleep-deprived and feel anxious or guilty. It is a prolonged change, and change is always stressful, explains founder of Sudden Money Institute and financial planner Susan Bradley (The Globe and Mail).

Dr. Stephen Goldbart, founder of the Money, Meaning & Choices Institute explains that becoming rich, unexpectedly at that, has drawbacks. Some people are unable to handle sudden wealth. It can rip families apart, ruin lives, and lead people on a path of self-destructive behavior, says Goldbart. Money doesn’t always bring fulfillment and peace, and some people lose balance. Rather than solving problems, money may bring confusion, stress, and guilt. The newly rich find that they do not have to work any longer, but newfound leisure triggers a premature midlife crisis. Some people experience insomnia, severe depression, and panic attacks while others go on maniacal type of shopping sprees or withdraw from society.

Some of the newly rich feel they do not deserve the money or are not entitled to it. Others become obsessed with multiplying their fortune or become paranoid, believing they may be exploited. It is mostly the new rich who are affected – those who believed they would spend their whole life working and wealth wasn’t part of how they grew up (National Post).

Psychologists who specialize in this subject have coined the term sudden wealth syndrome. To this, there are many paths to sudden wealth – retiring, getting an insurance settlement or divorce, signing a professional sports contract, inheriting an estate, or winning the lottery. All of these can make people experience the sudden wealth syndrome. People who suffer from it become afraid that they may lose the money all of a sudden. Rather than feeling decisive and powerful, newly rich people are unable to make up their mind on what to do with their money (Web MD). People need to have a purpose in life and in many cases, they get it through their careers. While money can open many possibilities, a large part of one’s life ends. Naturally, there is a grieving process, with people thinking of the life they had.

What to do if you experience such symptoms?  Experts recommend using the services of competent advisers and take time to figure out what to do. This helps minimize the effect of problems such as depression and loneliness while avoiding the temptation to spend the money right away (Boston.com). Tax partner at Cunningham LLP Mark Goodfield recommends that windfall recipients put their money in some type of a short-term investment instrument for 3 to 6 months, letting everyone know that they can’t invest, loan, or give it until it is due. This is a good way to give oneself some breathing space and decide what to do with the money (The Globe and Mail).

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