How Does Color Influence Property Value
Your home is probably your most valuable asset. If you have plans to sell your house shortly, you should think of ways to maximize your selling price. However, that does not mean you must spend thousands of dollars renovating your home to boost its value. There are other ways to fix up your house that can add to your home value but will not cost a fortune. One of these ways is by repainting your house in the right colors. If you are curious about how does color influence property value, continue reading below.
You might wonder how paint color can influence the value of a house. According to recent paint color analyses conducted by online estate agents, certain paint colors for the exterior and interior can boost the resale value of a house. Some colors are more desirable for the interior and exterior of the house as well as for the front doors.
The Color of the Front Door Affects Property Value
First impressions are the most critical, and the house’s outside appearance forms the first impression on a potential buyer. According to Svenja Gudell, chief economist at Zillow, when potential buyers browse property photos and videos, they notice colors first. So, colors are a powerful influence in attracting potential buyers.
According to the research, the house’s exterior and front door colors can increase the property’s value. New homebuyers are particularly attracted to an exterior color between a beige, light gray, or “greige.” They find the color natural, organic, and soothing.
This contrast can enhance the exterior appearance if the front doors, shutters, and trims are painted darker. For instance, a front door painted navy blue, black, or dark gray can add just the right amount of contrast to make the house stand out. The analysis indicated that houses with doors in these darker colors averaged about $1,514 more in sales price.
Colors for the Kitchen That Provided the Highest Returns
The colors of the home’s interior can also influence the property’s value. Because interior paint color reflects your personality and plays a big role in your enjoyment of your home, choose the colors you like when you are still living in your house. However, when you plan to sell it, repainting it strategically with popular colors can help increase your home’s resale price.
For kitchens, beige or yellow is no longer popular. Instead, the desirable colors now are gray blues and light blue. Properties with kitchens painted in blue-gray averaged more than $1,800 in their sales price compared to houses with kitchens painted in other colors. The report also revealed that “tuxedo cabinets,” which are upper and lower kitchen cabinets painted in different colors, are also popular.
Ideal Colors For the Bathroom
Conventional advice is that painting the walls white will make the space look bigger if you have a small space, such as a bathroom. However, the report discovered this strategy did not work well for bathrooms. The sales price for properties with white bathrooms averaged $4,035 less than similar properties.
The report showed that the most desirable bathroom color is blue, just like the kitchen. Houses with bathrooms painted in light blue sold for an average of $5,440 more. This included any blue hue that is cool and light, like baby blues, lavender blues, and cerulean. This is not a surprise because of the popular trend of using light grey or white for cabinets. These complement light blues very well.
The Most Popular Color For the Living Room
For most homes, the living room is the center of the living space. It is used to entertain, for relaxation, and daily activities. Interestingly, the neutral light blues popular in kitchens and bathrooms did not work well for living rooms. What was more desirable were living rooms painted in earth tones like taupe, soft beige, and oatmeal. These hues bring about a warmth that is organic and pleasant, and they also make a room feel more spacious.
Earth tones like oatmeal and beige are ideal backdrops for enhancing with colors from drapery, rugs, furniture, pillows, and other room accessories.
Appealing Colors for the Dining Room
A highly desirable color for the dining room is in the grey-blue family, particularly slate blue. Properties that had dining rooms painted in this color attracted bids that were $2,000 higher than similar homes with different colors in the dining room. The dining room colors that did not work well were terracotta and brick reds; these properties attracted lower offers.
As you plan your colors, one approach is to paint your dining room and kitchen in the same popular color. These two spaces are often connected. So, painting these rooms in the same color creates a better flow in the connected spaces. However, using the same desirable color for these spaces will raise the potential of a higher list price.
Therefore, if you ever ask yourself how you can increase your home value by giving it a new coat of paint. Using the popular colors that buyers prefer for the interior and exterior can potentially boost the resale price of your house by thousands of dollars. Consult a paint expert when looking for paint that can add value to your home. The company has served Chicago and surrounding areas for over 15 years. Whether you are repainting your home, a commercial property, or houses in an HOA, you can count on their expertise and professionalism.
