Increase Your Home's Value With These Paint Colors
If you are thinking of selling your home, you are probably thinking of repainting it too. Painting the exterior and interior walls of a property that is going on the market is a cheap and effective way of improving its sales price. A fresh coat of paint has both practical and aesthetic value; it covers previous damage and makes the home more appealing. But beyond merely repainting the house, the colors you use on it also matter.
All paint colors will not add equal value to the sales price of a property.
Even though buyers value a recently-painted home, they will only pay more if it is painted in colors they like.
Buyers’ favorite colors are constantly changing based on dominant home-design trends.
Homeowners can recoup 107% of their costs if they repaint the interior walls of their home.
They will get back 55% from repainting the exterior walls.
But if they choose the right colors for the exterior and interior, they can recoup multiple times above these amounts.
What are the paint colors which can boost the sales price of a home?
You will find the answers below, but first, a few rules to lay the groundwork.
Choose warm neutrals
Painting a home in warm neutrals reduces the possibility that buyers will find the colors offensive; neutral colors are favored by a large section of the population. Neutral colors rarely conflict with buyer's furniture or décor choices, making it easy to visualize themselves in the home. Neutral paints create the illusion of space and make a small room look bigger and airier.
Know the most important rooms/areas
Key places to focus on are the kitchen, bathroom, entryway or foyer. These are the areas that first gain buyers' attention before other parts of the home. The entrance sets the tone for what buyers expect to see inside. The kitchen is the hub of the residence, and bathrooms are central to personal sanitation. Living rooms and bedrooms are next after these.
Paint colors that improve a home's value
Here are the colors you should paint your home in if you want to sell it for maximum value.
The front door
The front door is the home’s welcome. It should set visitors at ease and make them curious about what lies ahead. The following are the colors that do this best:
- Navy blue to slate gray; these can add $1514 to the home’s value
- Black or charcoal gray; these will add as much as $6,000 to the sales price
- If these colors feel boring or clash with the overall design of the home, using deep plum, classic red, or rich green will also work. But not to the same degree as the other colors.
The popular saying is that “kitchen sell homes” but this is only if the kitchen has been painted in the right colors. The top paint colors for the kitchen are:
- Grays and mild blues can add up to $1,809 to the home’s value
- Tuxedo kitchens – kitchens painted in two colors – add around $1,547 to the sales price. The best tuxedo kitchens are those with white cabinets contrasted with navy blue or black kitchen island
- On the other hand, red and yellow hurt a home’s sales price
By far, the best colors to paint a bathroom are light blue to soft periwinkle. Painting the space in light blue can bring in an additional $5,440 while painting in light periwinkle will add $2,786 to the home’s sales price.
Living room and dining room
In the living room, buyers tend to move away from their preference for blue.
Homes with their living room walls painted in light beige, pale taupe, or oatmeal saw buyers paying an additional $2,000 above the home’s anticipated sales price.
These colors are welcoming and feel more appropriate for a living room.
But for the dining room, the preference is for blue to pale gray.
Painting the dining in one of these colors increased the home’s value by $2,000.
Using light cerulean or cadet blue in the bedroom made the spaces more relaxing.
Bedrooms painted in cerulean increased the home’s value by $1,856 while painting it in blue added $2,000 to the home’s eventual sales price.
For the outside of the home, the most impactful color is greige – a mix of gray and beige. It increased the home’s sales price by as much as $3500.
Although tan and beige are still relatively popular, greige is the hottest color for the exterior at the moment.
Creamy bright yellow is the worst color to paint the home’s exterior in.
When using these colors, creativity is required to know how to mix and match them. Without that the end-result could be counterproductive. Where in doubt, ask an expert.