Paint Colors that Can Boost Your Property Value
Home owners are often advised to slap on a fresh coat of paint before listing their properties, but they shouldn't overlook the impact of color.
A Zillow analysis of more than 32,000 photos from sold residential properties finds specific colors can either boost or crimp a home's selling price. The analysis controlled for square footage, the age of the home, the date of the transaction and location, and then compared the sale prices of homes with white walls versus those with more colorful paint.
Color makes a big impact on buyers and can serve as a powerful tool for attracting prospective buyers. Trends of course change over time, so it’s important to research what colors buyers are currently interested in. Desirable colors help future buyers envision themselves living in your house. At the same time, Zillow warned certain colors can put off buyers, especially darker colors. Check out the following seven examples of paint colors making a difference:
1. Grey or Blue Front Door
Even front doors make an impression on prospective buyers. Zillow found that homes with doors painted shades of navy blue to dark gray or charcoal earn a premium of $1,514.
2. Grey and Beige Exteriors
Pick a mix of gray and beige -- "greige" -- for your exterior, according to Zillow. Its analysis found homes with these shades on their outside sold for $1,526 more than white properties.
3. Blue Kitchens
Blue is now the most appetizing color for kitchens, Zillow found. In previous years, its analysis showed that yellow kitchens sold for $1,300 more. But in 2017, the preferences shifted to light blue to soft gray-blue kitchens, which earn an average premium of $1,809.
4. Taupe or Light Beige Living Areas
Prospective buyers are attracted to light beige, pale taupe or oatmeal living rooms, paying a premium of $1,809 for central living areas with these shades, Zillow found.
5. Blue Bedrooms
Blue is thought to be a calming color, which may explain why buyers prefer bedrooms painted in these cool shades. Bedrooms painted with these tints receive a premium of $1,856.
6. Blue Dining Rooms
A shade of blue in your dining room can deliver an average premium of $1,926, Zillow found. This year's favorite shades are slate blue to pale grey blue.
7. Blue or Purple Bathrooms
The biggest bang for your buck will be in the bathroom, where picking blue or purple hues will pay off, according to Zillow's analysis. When it comes to the powder room, think powder blue to periwinkle, the real estate data firm said. The average impact on a home's sale price is a bump of $5,440.
THINK TWICE BEFORE USING THESE COLORS
While certain hues can enhance a home's value, some colors can also have a negative impact on prospective buyers, Zillow found. One of the common themes is deep colors, as well as a lack of color. Deep colors can make it hard for a prospective home buyer to picture their furnishings in. A lack of color can make a living space feel very cold and not inhabitable. Here are the colors and room combination that Zillow found had the biggest negative impact on selling price:
- Blue living room -$820
- Yellow kitchen: -$820
- Medium brown, taupe or stucco home exterior: -$1,970
- Red dining room: -$2,031
- White bathroom: -$4,035
If you’re planning to put your home on the market soon, or are just looking to update the look of your house, give Spectrum Painting a call today at 973-706-6033 to set up an estimate.We are also happy to offer consultations with our color expert as part of your Spectrum experience.Click HERE to found out more information about this service.