Real estate prices are down everywhere you look. It’s a difficult time for homeowners who want to move. It’s also a challenging period for first-time buyers who are faced with so many options.

What should you do if you can’t sell or are too overwhelmed to buy? Seize the day and revitalize your home. You mightjust fall in love all over again with your own home. Here are some tips for staying, updating and redefining your design for living.

Rearrange the furniture
Unless you’re an over-the-top obsessive rearranger, your furniture is probably in the same place it was after the delivery truck pulled out of your driveway the day you moved in. One of my first and foremost maxims as an interior designer is “Before you decorate, plan your space.” If you’ve never worked with an interior design consultant before, now is a good time to start. There are many interior designers who, for an hourly or flat fee, will help you create floor plans, color schemes and vision for one room or your entire home.

Paint
No need to agonize over a new color scheme. Paint the walls one of the new tinted shades of white with an eggshell finish; give the ceiling a pure white, flat finish; and give the moldings and trim a semi-gloss. Everything will look great against it. Your walls will look subtly different from the ceiling and trim, and will provide a fresh background for all your furnishings.

Redo floors
Rip up your carpets. If you have wood floors beneath the carpet, they actually may be in good shape and just need a good cleaning; otherwise they can be refinished. This time around, area rugs might be a nice change from wall-to-wall carpets. Painted wood floors also add a wonderful touch and definition to small spaces, entry halls and powder rooms.

Reassign existing spaces
For those empty-nesters or folks whose children have the outgrown the nursery, bedrooms make great home offices, media rooms, libraries or guest rooms. Every teenager wants that attic aerie, but you might just want to keep it for yourself as an artist’s studio.

Your home’s design style may have been “Woodstock generation” or reflect a dedicated traditionalist aesthetic, but it’s possible to update to a current and classic style when you take a second look at what you have.

Image: judithcohendesign.com