Do the colors of your home impact its value?
Have you ever put your home on the market and your realtor suggests you paint a room or two, or perhaps your front door? That is because there is a psychology behind what interests buyers when searching for a new home.
Color has the ability to influence people. It is a powerful tool used for marketing and branding. No wonder it is also an important factor when selling your home. Choosing the right color is not an easy decision as gender, age, and culture can influence how an individual perceives color. That is why it is important to understand who the potential buyer of your home may be.
When valuing the sale price of your home, realtors take into consideration many factors. The location of your home, the condition of your property, the condition of the interior and exterior of your home, the age and condition of your appliances, and the overall saleability of your home, just to mention a few. Ask your realtor if there is anything you can do to make your home more appealing. Although it may not increase the sale price of your home, it may facilitate a quicker sale.
Although many homeowners think they can make a larger profit by updating their kitchen, a bathroom, or finishing their basement, that is not necessarily the case. There is a considerable cost to renovating your home, one which includes inconveniencing your family during the construction process. When investing tens of thousands of dollars in a home remodel, the benefits include enjoying your newly renovated space. When you are selling your home, that benefit goes away.
If you are set on remodeling your home for the purpose of selling, make sure you consult with your realtor and professional contractor to make sure you are all on the same page and doing the work that will get you the most money. It is important that you are well informed of the potential gains, or losses you may incur.
To get the biggest bang for your buck with the least investment, apply a fresh coat of paint. Realtors will sometimes make this suggestion for a variety of reasons. Perhaps the color of your existing walls are too specific to your taste, or perhaps the walls are marked or in poor condition. Whatever the reason, it is an inexpensive way to brighten, high light and beautify your home to make it more attractive to buyers.
A 2017 Zillow analysis of more than 30,000 photos of sold residential properties across the country found that specific colors of the exterior and interior of your home can either boost or suppress the selling price of your home. The analysis took into consideration the square footage of the home, the age, the location of the home and the date of the sale. Then they compared the sale prices of homes with white walls versus those with more colorful paint.
By selecting the right colors, home buyers can invision themselves living in the space. They can mentally place their furniture and belongings in the rooms without having to make any changes or do any work. When the paint colors are specific to your style and your personal preference, it can sometimes put off a buyer as they mentally start a checklist of the things they have to do to make the home livable by their standards.
The Zillow analysis went on to say that front doors painted shades of navy, burgundy, dark grey or charcoal earned sellers an additional $1500 on the sale of their home. And in 2017 kitchens that were painted light blue to soft gray blue added an additional $1800 to the sale price, as opposed to kitchen with little or no color.
Keep in mind that color schemes that align with those in your neighborhood matter more than colors that are trending. It is important to work with a realtor who is familiar with your neighborhood and can knowledgeably evaluate your home's surroundings to determine what's most popular in your market.
In general, most realtors and house painters will say that darker exterior colors tend to make a house appear smaller, but more substantial. If your home is larger, but situated on a small lot, consider lighter colors, which help make the house look smaller and more proportional to the lot size.
Everyone wants to love the colors that surround them. So when selecting a paint color, remember that the mood of the space will be influenced by the color you choose. The effect may be subtle or dramatic. It can encourage tranquility or boost energy, and can even make you feel happy or depressed. Most importantly, by choosing the right color, it can make your home more valuable.
The colors and room combinations that Zillow found to have the biggest negative impact on the selling price of a home were; a blue living room, a yellow kitchen, a medium brown, taupe or stucco home exterior, a red dining room and a white bathroom.
Color is definitely a matter of taste. If you are repainting your home for yourself, choose colors that tell your story and suit your style. Perhaps the colors you choose will highlight your furniture, your flooring or your home décor. However, if you are planning on selling your home, consider paint colors that are neutral like pale yellow, taupe, oatmeal or light gray. They are stylish and clean, signaling that the home is well cared for, or that previous owners had an eye for design that may translate to other areas within the house.
If you're planning to do a little updating this spring or summer, you want to make smart choices about how you spend your money. Speak with your local paint store sales representatives or designer, and bring photos of the exterior and interior of your home. They can work with you to provide the best options for the rooms that need a fresh coat of paint.
or any questions about your remodeling project, you can contact HIC of Staten Island by e-mail at email@example.com.
Peter & Julie Monzi, Owners – Shamrock Paints & Decorating Center
(718) 981-1616 (North Shore location) * (718) 966-9500 (South Shore location)www.shamrockpaints.com