Can paint color really get you a higher sale price on your home?
Have you been thinking of revamping your home and find yourself wondering what aspect to focus on? Whether you are remodeling to put your home on the market or just updating areas that are outdated, you always want to think about what you are improving, what you are spending your money on and how that will affect the salability of the home in the future. And while it is thought that kitchens and bathrooms should be prioritized when considering return on investment, what many people don’t realize is that paint color can have a large impact on how buyers see and judge the home. And yes, that is exactly what we are going to be talking about in today’s blog post!
Now you may be asking yourself exactly which paint colors will get you the most bang for your buck and will appeal the most to potential buyers in the future. In Zillow’s 2018 Paint Color Analysis, over 135,000 images of homes that were sold across the country were examined. These images were examined to see how colored walls affected selling price of the home compared to plain white walls, and the results are quite intriguing. It was found that homes in which feature black or charcoal gray doors sell for more than $6,200 than expected. And, as you may imagine, yellow exterior paint ranked on the lower end, and those homes sold for $3,400 less than what was expected. When it comes to living rooms, the color taupe with peach, tan or pink undertones tend to be more appealing and on average the home sells for over $2,700 than expected.
When it comes to kitchens, you want to be especially picky because home buyers see themselves spending a lot of time is that particular part of the house and therefore judge it more closely. It was found that the most popular color combination in kitchens is white cabinets paired with dark navy blue or black islands. Homes that features tuxedo cabinets, which refers to the lower and upper cabinets being a different color, sell at a $1,550 premium. And when it comes to bathrooms, using colors such as periwinkle blue or a light blue paint with a gray-blue tint can increase the home’s selling price by over $2,700. So if you are wanting to upgrade your house and put a little life back into it, putting a fresh coat of paint may be just the trick you need. And if you incorporate the information we talked about above, you have a good chance of not only increasing your home’s appeal to future buyers, but in turn get a higher selling price!