Paint Color Equals Money
I have spent a lot of time working with customers anxious to get their home ready to go on the market for sale. One of the most frequent questions asked was, “What changes should I make to be sure my house will sell for the most money?”
More often than not, my most immediate response was to tell them to make sure the paint colors in the home were neutral enough that anyone could see themselves living there! While the color of paint in your home is not the only item on the list of “how to get your home ready to sell”, it is one of the items that does in fact translate to more money when you sell.
In an article recently penned by Madeline Stone, Lifestyle Editor for Business Insider, she quoted some interesting statistics provided by Zillow on this very subject. Let’s see what they both had to say.
“After analyzing more than 32,000 listing photos of homes that have sold across the US, Zillow came up with a list of the colors that performed the best. For example, homes that are painted “greige,” a shade somewhere between light gray and beige, tended to sell for $3,496 more than similar homes in brown or tan,” wrote Ms. Stone.
Svenja Gudell, Zillow’s chief economist, stated in a press release. “Color can be a powerful tool for attracting buyers to a home, especially in listing photos and videos. Painting walls in fresh, natural-looking colors, particularly in shades of blue and pale gray, not only make a home feel larger, but also are neutral enough to help future buyers envision themselves living in the space. Incorporating light blue in kitchens and bathrooms may pay off especially well as the color complements white countertops and cabinets, a growing trend in both rooms.”
Convinced yet? Let’s see what Zillow continued to show as they identified colors to choose and which ones to avoid because of their potential monetary impact on the sale price of your home. We only need to look at a
sample of three
of the main rooms in a home to uncover the range of price increase and/or decrease of a home sold based solely on the color of paint on the walls in the rooms.
In a kitchen, blue paint, shades of light blue to soft gray-blue affected the home sale $1,809 more on average while yellow, straw yellow to marigold had an adverse impact selling on average for $820 less.
A blue to purple, shades of light powder blue to periwinkle, bathroom
resulted in homes selling for $5,440 more on average with a downward trend to $4,035 less on average when painted white, off-white or even eggshell white.
Finally, a dining room painted slate blue to pale gray blue created a color combination that increased the sale price for $1,926 more on average than a brick or copper red, terracotta dining room in a home sold for $2,031 less.
It is easy to see how paint color equals money, which in turn, increases the return on your investment! Wouldn’t you agree with me that making sure your home is painted the right color is well worth it? Your home will sell at a higher rate and you’ll could have less days on the market. Paint color equals money! Contact Southern Painting and let’s make that “not-so-perfect” home become the perfect home for sale!