If you want to change the appearance of your home's interior, but are working within a tight budget, there is no easier way to update your space than with a fresh coat of paint. Paint color, sheen, pattern and texture can be combined to create a number of interesting and individual looks for the home. Color is often the first consideration when redecorating but successfully creating these looks requires some understanding of basic design principles. Consider the five tips below to help with any room decoration or renovation project and for added inspiration, take a moment to check-out the just announced winners of our “Prettiest Painted Rooms in America” competition.

Monochromatic color schemes are generally easy to create and impart a sophisticated feel within a space. A monochromatic palette consists of different tints or shades of the same color.

Contrast can be a powerful element. Often, when two contrasting colors are used, one appears warm and the other cool. Contrasting colors do not have to be bold; they can be soft and subtle. Take your cue from the room--bold in the living or family room and a softer contrast in the bedroom.

Color can visually change the perception of a room’s size. Light, cool colors can make the space appear larger while darker, warm colors often make it seem smaller and more intimate.

Pattern can also affect the way a space is perceived. For example, a room can be heightened by painting vertical stripes on the walls.

Texture is an important element of design that can add interest and style in any room. Use decorative techniques such as sheen striping or stippling which provides a variegated appearance and gives depth to the surface.