As 2010 winds down, homeowners are budgeting for home decor in the coming calendar year, and that means expectations are already doing their bit on trends to watch out for.

Many home decor experts say that paint will play a big role in home decor, with the biggest change happening in how we define a “neutral” color palette. Previously, light browns and beiges were thought to be the only neutral colors on the color wheel. Now decorators say colors like mint green, light lavender, light yellow and even peach are making their way into the “neutral zone.”

You can find mint greens and light lavenders everywhere, from kitchen walls to living room furniture. The key is to pair these light colors with a darker, more traditional hardwood floor.

Oak hardwood floors will continue to be in style because they are considered timeless and can be shaped to work with a variety of design schemes. Homeowners can install an oak hardwood floor and redecorate their homes five years later without touching the wood.

As for flooring color, stick with a color like Bruce Hardwood’s Saddle Summit or Bruce’s Vintage Brown Liberty. For dark oak floors, choose Mullican’s Oak Dark Chocolate, which works exceptionally well not only with light colors, but also with bright coral or red walls.

Bright colors are another trend for 2011. With the economy still suffering, people are relying on bright, youthful colors to brighten their homes and moods. Experts say that deep turquoise and vivid greens can brighten up a room that looks dull and dreary. The key is to keep it simple and use neutral colors to balance out these bright hues. White furniture and curtains would certainly do the trick.

When it comes to the hardwood finishes of the season, let the design of the room dictate the direction you take. If you are thinking of something modern, then a satin finish will be perfect. If you want to go classic or vintage then you should look into hand scraping.