If you’re getting ready to put your house on the market, one question that probably comes to mind is, “does paint increase home value?”. You know that a fresh coat can make your home look great but does that translate to cold, hard cash when you sell? It turns out the answer is, in most cases, yes. However, like everything else in real estate, some nuances exist when it comes to paint and your return on investment. Make sure you are picking the top painting company in your area, we’re the best painters in Montgomery County, PA.
Choosing the right colors and focusing on the areas that make the biggest difference for buyers can significantly impact your sale price. On the other hand, ignoring outdated paint can be a costly mistake. Real estate experts agree that a fresh, modern paint job inside and out is one of the easiest and most cost-effective ways to increase a home’s value.
Exterior Paint – Make a Powerful First Impression
First impressions are crucial in real estate. The exterior of your house is the very first thing potential buyers will see when they pull up for a showing. You want to make them excited to step inside.
Chipped, faded, and outdated paint on the exterior not only looks bad, but can make buyers worry about costly repairs and neglect. A buyer’s first impression might be that the house has not been well maintained, even if the interior is sparkling.
The National Association of Realtors reported in 2019 that 66% of real estate professionals surveyed agreed that exterior paint was important in boosting curb appeal and suggested doing it before listing a home. Good curb appeal translates to a higher selling price. For instance, according to research by Homelight, refreshing your exterior paint can yield as much as a 152% return on investment.
Not only that, but a 2012 survey done by HomeGain of top DIY improvements sellers indicated that exterior painting created nearly $2,200 in value. A fresh coat of exterior paint can go a long way.
Picking Your Exterior Color Palette
Unless you own a Victorian or a home in a tropical location where bold hues are more common, neutral paint colors are usually your best bet. This is because they appeal to a broader range of potential buyers.
Neutral colors don’t have to be boring. Sophisticated grays, warm “greige”, classic beige, and even a timeless white can dramatically elevate a home’s look. These colors give a fresh, modern feel without being too polarizing for buyers. This is something to keep in mind when questioning, “does paint increase home value?”.
Consider incorporating a black front door for added curb appeal and even a potential sales boost. Zillow’s Paint Color Analysis discovered that painting a front door black increased home prices by nearly 3%.
Once you’ve landed on a primary color, create visual interest. Do this by using a contrasting, but complimentary, hue on your trim, shutters, and any architectural details. Zillow conducted studies on home sales and found that certain color schemes were particularly appealing to home buyers.
DIY or Hire a Professional?
While many homeowners successfully refresh smaller areas, painting the entire exterior of a house can be challenging. This may be best left to professional painters. A good painting company has the expertise, tools, and equipment to tackle multi-story homes, hard-to-reach areas, and specialized techniques like spray painting. This will ultimately save you time and hassle while giving you the best result and making your home look its best for buyers.
Interior Paint: Creates a Welcoming Vibe
When a potential buyer walks through your home, they are imagining what their lives would be like if they lived there. A bright, freshly painted interior will evoke positive feelings. Research supports that those positive emotions directly impact how much a buyer is willing to spend. Neutral colors will not only help buyers imagine their belongings in the space, but also prevent them from having to factor in the additional time and expense of repainting themselves.
A 2012 study by HomeGain concluded that, on average, repainting the interior of your house resulted in a $2,001 increase in the sales price. Considering the low cost of cans of paint compared to other home improvement projects, painting provides an excellent return. Does paint increase home value on the inside? You bet it does, especially if done correctly.
But choosing the right colors is just one piece of the puzzle. What you do with your interior walls can directly impact the sales price.
Neutral Color Palettes Remain King
Warm, neutral colors such as greige, light beige, and taupe continue to be the best interior paint colors. This helped it to sell in only a couple days, in a market where it had been previously listed for several months. Keep this anecdote in mind as you consider if paint increases home value because, in my experience, it sure did.
Not only will these versatile colors compliment various decorating styles but a 2012 Top DIY Home Improvement Survey by HomeGain stated that repainting your interior will garner an estimated 107% ROI. That is a significant number. When repainting a house before listing it, think about appealing to the masses. That being said, make sure to add pops of visual interest by strategically incorporating accent walls, painting trim a contrasting white, or playing around with different paint sheens.
The Zillow report noted some colors that actually HURT your home value: Walls painted in colors homeowners described as “off-white or eggshell” were linked to homes selling for $3,400 less than expected. This is a surprising phenomenon, especially because experts frequently suggest shades of white for interior paint. Zillow data connected homes with slate blue dining rooms received offers that were an average of $1,926 higher. This surprising trend, considering most people consider blue to be more suitable for kitchens or baths, illustrates the potential benefits of strategically using bold hues.
Soothing blues in the bathroom, such as Behr’s “Ethereal Mood,” can make a small room seem less cramped and add value, with research indicating the impact of this bathroom hue can reach nearly $5,000. Richer shades of blue in a bedroom can make a big difference too. Homes with navy blue bedrooms sell for an average of $1,500 more, again highlighting that color really does impact the perception of value. This proves that color should be a strong consideration if you’re questioning, “does paint increase home value?”.
A Fresh Coat Can Hide Flaws
Does paint increase home value? One of the best ways it can is that painting also gives you a chance to address cosmetic issues and give the walls a fresh, clean start. This could involve patching small nail holes, fixing minor cracks, and dings, or even re-caulking around baseboards and trim.
When we sold our last home, our Realtor pointed out several imperfections, like scuff marks on the walls and peeling paint near the door frames. She advised addressing these small things before showing the house, assuring me that even little improvements could make a difference in the eyes of a buyer. After patching those minor issues and repainting the impacted walls, we received a strong offer. We were happy because it sold for over asking price and we truly believe the paint contributed to getting top dollar.
Prioritizing Your Painting Projects
If your budget or time is tight, prioritize the rooms in your house where a fresh coat of paint will make the most impact. The kitchen is the heart of the home. Consider if refreshing outdated cabinets is possible. In many cases, painting cabinets a modern white or a contrasting two-tone scheme can completely transform your space. Don’t forget the walls in the kitchen, too. Choosing colors that complement the countertops, cabinets, and overall feel will elevate this important area of the house.
The bathroom, primary bedrooms, and the living room are high on the priority list for painting projects. These rooms should feel relaxing, clean, and inviting, as those are characteristics that buyers often focus on when touring homes.
Other areas, like hallways, entryways, guest bedrooms, and even closets, should have fresh paint, too. That said, if budget or time constraints exist, these spaces could take a back seat to other priority projects when preparing to sell your house.
Safety First With Older Homes.
There are additional considerations when painting an older house, particularly if the structure predates 1978. If your home was built before 1978, lead-based paint might be present in your existing paint. This poses a health hazard and requires careful handling and potentially professional abatement to ensure safety.
FAQs about does paint increase home value
Does paint affect a home appraisal?
While a fresh coat of paint won’t directly increase the assessed value in an appraisal, it can subtly influence the appraiser’s perception. For example, a well-maintained, nicely painted house is going to be viewed more positively, perhaps subconsciously, than one that shows neglect or hasn’t been updated. It can also influence the value given to comparable properties.
Is painting your house a good impression?
As I’ve pointed out, the simple act of applying new paint offers one of the biggest bangs for your buck. It is one of the easiest and most budget-friendly things you can do. Whether you are selling right away, or years from now, painting the exterior and interior of your house is a smart investment.
Conclusion
So, does paint increase home value? As long as it is well executed, fresh, and in colors that compliment your home’s best assets, you can rest assured that, in most cases, a beautifully painted interior and exterior will pay off when you decide to sell. This is why using a reputable painting company should be a major consideration. Get your free estimate now from the best painting company in Perkasie and surrounding area.
