The correlation between paint color and home price

Paint color may impact a home's sales price
The right paint colors may impact a home's sale price.

Are you thinking about preparing your home to list for sale? If so, it is likely that in addition to de-cluttering, you may also be thinking about applying a fresh coat of paint to the home. On average, painting the interior of a home tends to cost an average of about $385 per room. Therefore, this makes painting one of the lease expensive home improvement projects that you may consider. With this said, a fresh coat of paint inside the home can do wonders for resale.

The right paint color for the right room

When painting a home in preparation for sale, it is typically advisable to apply light, neutral colors throughout the home. In doing so, you will likely appeal to a majority of buyers while also making the home feel more spacious. It is well known that dark tones will make a room appear smaller than it really is. However, a recent survey found that some paint colors performed better for certain rooms. Ultimately, this even impacted the sales price. A few examples were as follows:

  • Bathroom: Pale sky-blue scored a 93 out of 100. This resulted in a 1.6% price premium (+$1,698 on a typical U.S. home).
  • Bedroom: Dark blue scored a 89 out of 100. This resulted in a price premium of $1,491 on a typical U.S. home.
  • Kitchen & Living room: Neutral tones tend to be the most desired in the common areas. In fact, mint green in the kitchen resulted in a sales price that was $1,830 lower. Therefore, it is important to take paint colors into consideration when preparing a home for sale.

Summary

Overall, sticking to light, neutral colors throughout the common areas of the home is recommended. In addition, these lighter tones tend to make the home feel more spacious to the buyer. If you prefer to try more bold colors, it appears that the bedrooms and bathrooms would be the spots for this. It is important to remember that buyers that perceived the sellers to have similar tastes to them were more likely to make a higher offer on the home. As always, attention to details can result in selling your home faster and for top dollar!

At Live South Florida Realty, Inc. we have assisted many clients build their real estate investment portfolios. Are you looking to buy or sell a property in South Florida? Now more than ever, it is critical to have a qualified real estate team and the proper search tools behind you. Live South Florida Realty, Inc., has been a leader in the South Florida market for many years. Let our team of professionals assist you with buying or selling your piece of paradise today! In addition, our recently launched “Florida Home Search” app is now available on the Apple App Store and Google Play Store. With real-time MLS feeds, this app lets you set your own alerts to notify you as soon as a property meeting your needs hits the market. Furthermore, it will also let you know of recent closed sales in your area so that you may be even more educated on the market. Be sure to download this app for your smartphone or tablet today!

By natasha moore

REALTOR® with Live South Florida Realty, Inc.

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