Over this year, we can expect to see an interesting mix of new and returning trends.

Some of the most popular interior design trends for 2023 include the return of bold colour, natural stone surfaces, closed floor plans, mixed metal finishes, luxe living, statement lighting, and 60s and 70s influences — particularly in furniture design.

Pantone Colour of the Year

One of the most popular trends we can expect to see this year is colour! Pantone’s Colour of the Year for 2023 is Viva Magenta.

Viva Magenta vibrates with vim and vigour. It is a shade rooted in nature descending from the red family and expressive of a new signal of strength. It is brave and fearless, and a pulsating colour whose exuberance promotes a joyous and optimistic celebration, writing a new narrative.

Except to see accent walls, furnishings, kitchenware, and much more in this powerful and empowering colour. 

Natural Stone Surfaces

Natural stone tiles and surfaces are a great way to add colour, texture and high-end finishes to any room in your home and even the exterior living spaces. Too often, homeowners forget about the uses for natural stone tile and surfaces throughout the home and think of it only for the kitchen and bathroom floors.

Here are the top 4 ways to incorporate natural stone into your home:

Kitchen - This may be the most popular place for natural stone surfaces in the home. Countertops and backsplashes made of engineered stone, granite, limestone, marble, recycled glass, semi-precious stone and soapstone are often found in the kitchen. Natural stone in the kitchen allows homeowners to choose a countertop and backsplash that complements their style and design aesthetic.

Bathroom - Bathrooms are a great place to add natural stone tiles and surfaces—not only are they clean but they also make spaces feel more sophisticated and inviting. Natural stone can be used on vanity tops, tub surrounds and shower tiles to make a statement in a commonly forgettable room. Choosing the right type of natural stone for your bathroom project can help the surface to withstand the test of time and frequent use.

Living Room - replaces are often considered the heart of the home and serve as a focal point in interior design. One of the best ways to make your fireplace into a statement piece is to add natural stone to the hearth and exterior of the fireplace. This design feature can add sophistication and class to this living room gathering place.

Floors - Natural stone tiles can be found throughout homes and in entryways. They are durable and easy to clean and care for. The variety of natural stone tile types, shapes and colours allow homeowners to customize their home interiors with tile that matches their home décor.

Closed Floor Plans

For nearly three decades, residential remodelers have been taking down walls as homeowners embraced the concept of open floor plans.

However, the pandemic exposed the fatal flaw of the open floor plan – the lack of privacy – once everyone was living, working and schooling at home. A soundless space for video calls or a quiet sitting room for reading became more desirable than ever.

As home buyers and homeowners seek out privacy, calm and quiet, expect the closed floor plan to return to style in 2023.

Closed floor plans create cosy, comfortable, enclosed spaces within a home. We may even see homeowners who have open floor plans will look to compartmentalize their space through furniture layout and design to create private nooks and corners.

Whether you’re building a new home, renovating your current home, or searching for a new home, these are a few design trends you can expect to see this year. 

Happy New Year! I hope that 2023 is off to a great start and I wish you a very successful, prosperous, and healthy year ahead!

As we enter this year, there are plenty of changes in the real estate industry, and in my personal business. 

NEW BROKERAGE

After much consideration and careful thought, I am extremely pleased to announce that I have decided to move to a new brokerage.

Effective immediately, I am now licenced with eXp Realty.

All contact info will remain the same and you can expect to receive the same excellent service and value that I bring you with all your real estate needs.

HOME BUYER RESCISSION PERIOD

The HBRP, commonly known as a "rescission period," gives buyers the right to withdraw from a purchase agreement within a specified period of time after an offer is accepted. Without a rescission period, if a buyer wishes to terminate an unconditional contract, they would need to negotiate with the seller and would typically face significant financial penalties or legal ramifications.

Buyers who exercise their right to rescind will have to pay a fee of 0.25% of the purchase price. For a $1,000,000 home, this would result in a $2,500 fee paid to the seller.

For more in-depth information regarding the HBRP, please see the following BCFSA links:

• Home Buyer Rescission Period Information

• Home Buyer Rescission Period Guideline

If you have any questions or concerns about the HBRP, please reach out to us at your convenience. We’d be happy to review and clarify the new regulations with you. 

FOREIGN BUYER BAN

As of January 2023, non-Canadians will be banned from buying homes across Canada, through the Prohibition on the Purchase of Residential Property by Non-Canadians Act. This Act prohibits non-citizens and non-permanent residents from purchasing residential property in Canada for two years.

The Act restricts non-Canadians from avoiding the ban by using corporations or other entities to purchase residential property. Both the non-Canadian purchaser of prohibited property and any person or entity that knowingly assists in the purchase can be fined up to $10,000 and the property may be forced to be sold.

“Residential property” includes detached houses or similar buildings of one to three dwelling units, as well as parts of buildings such as semi-detached houses, strata units or other similar premises.

For more information on this, please contact me directly, I’d be happy to assist.