Why Paint Colors Matter When Selling Your Home
When it comes time to sell a home, appearances make first impressions, and first impressions are everything. Even something as seemingly insignificant as the paint on the walls and on the exterior of your home can make or break a sale. And, when you stop to think about it, this does make sense. No one wants to walk into a room only to be taken aback by a bold, overly ambitious paint color. It really can leave a foul impression of a home overall.
A home should present a clean, fresh slate for potential homebuyers so that they can easily imagine themselves living there. It’s difficult to do this though when all you can think about is how badly your eyes hurt from the shock of too much color. Color affects people in so many different ways, both good and bad. More than just setting initial impressions, color can actually drastically affect how much money you get out of your sale as well as how many offers come in.
In fact, to get an idea of just how much paint colors can affect your home’s selling price, a recent color analysis study was conducted examining light or pale blues and grays. As it turns out, these soft colors alone can increase a home’s selling value by more than $5,000! That’s right – a simple coat of paint can really add up! The study also found that:
- Soft blues and grays in the kitchen alone can increase a home’s value by nearly $2,000
- Light blue bathrooms can increase a home’s value by nearly $5,500
- Brown-toned living rooms, like light beiges, pale taupe or oatmeal, can increase a home’s value by almost $2,000
- Slate blue or pale gray-blue dining rooms help homes sell for almost $2,000 more
- Light gray or beige-like exteriors can increase the value of a home by about $3,500 compared to similar homes that are painted slightly darker
- Navy blue or slate gray front doors can increase a home’s value by about $1,500
With numbers like these, it’s clear that paint color really does matter when it comes to selling your home. So, is it worth it to paint your home before you try to sell? Absolutely!
Some other points to consider include the following:
- Neutral colors, like tans, creams and light grays, are more photogenic.
- Some creative color, like in small bathrooms, is ok.
- Countertops, flooring and cabinets should be cohesive. Save the pops of color for artwork, dishes, vases, etc.
- Be mindful of how the light plays with the color.
- Consider paint finishes. Flat finishes tend to absorb light, making them look darker, while glossy finishes reflect light, making them look brighter.
Buyers don’t want to walk into a home and feel like they will have to spend time and money right away to make it their own. When it comes to painting, that’s all a potential buyer may see, as the cost to repaint an entire home can be anywhere from $4,000 – $7,000. That’s a significant chunk of change, especially for those who are already looking at maxing their budget. For many, it’s a deal breaker. So, take the time upfront to paint, or offer potential buyers a paint allowance, or negotiate a lower price for the painting ahead. Trust us, it will make all of the difference in the end when you’re able to make a swift and profitable sale.