Does fresh paint increase home value? The sale price of freshly painted houses is generally higher than that of unpainted homes, but they do not always result in a greater sales value.
Often homeowners ask ‘will my home sell for more if I put on a fresh coat of paint?’
Freshly painted homes can often sell quickly, but it might not result in the highest sale price. Although freshly painted homes do not always sell for more, they frequently sell faster than un-painted ones.
This blog post will go over what kind of return on investment you can expect with painting your home and what exterior and interior colors are best to sell quickly. We’ll also cover other value-adding improvements, so you have all the information you need to make an informed decision before selling your home!
Does Fresh Paint Increase Home Value?
Does Fresh Paint Increase Home Value? According to HomeGain’s Survey, interior paint will return 107% for the money invested, while exterior paint will return on average 55%.
There are exceptions to this rule though, a home’s paint color is a very subjective decision. For example, if your paint color is popular in the neighborhood or area you live in, it will return more than a home with an unpopular exterior paint color. Buyers looking for homes similar to yours would consider buying your house instead of another one down the street.
There are popular colors that return more than others, but all things being equal, Fresh Paint will increase your home’s value.
Should I Paint the interior of my home before selling?
Interior paint will have the best return on money investment, so is painting the interior of your home a no-brainer?
Not necessary, according to a survey completed by remodeling.com. Other improvements can also improve the value of your home.
The best way to know what improvements should be made before the listing is by getting an opinion of a professional realtor.
Paint will yield the best return if paint condition and color are a major problem. These are the first things a potential buyer will notice. Paint color is subjective, but if your paint isn’t in good condition or matches the rest of your home, then you might feel that painting before selling makes sense.
Before painting, it would help to address the home’s eyesores first, especially broken windows and doors. These are the first things a potential buyer will notice when touring your home.
Overall, though, the painting will positively impact the price you can sell for, but keep in mind there are other ways to improve upon the value of your home as well!
What are the best Interior Colors of 2021?
You can’t go wrong with neutral colors. The best interior paint colors to sell your home are neutrals. We recommend using a light gray, light taupe, or natural beige on the walls of your home because they will look fresh and clean. Keep the overall color scheme consistent throughout the home.
If you have a fireplace, then consider painting it white to give the room an instant update and make that area stand out! A popular trend is whitewashing wood and brick to brighten up spaces. If you have dark wood cabinets, consider painting them white to bring out more brightness into the space. If you’re trying to sell quickly, then brighter colors will help the home move faster.
The best interior paint colors for 2021 are
- Sherwin Williams Pure White
- Benjamin Moore Classic Gray
- Sherwin Williams Repose Gray
- PPG Delicate White
- Sherwin Williams Sea Salt
Using patterns on your walls is another great way to bring some personality into space but be careful not to overdo it. Also, consider painting your bathroom blue, light blue will increase home value by $5,000, according to a report by Zillow. They also list out other popular colors for other rooms of the house. Make sure to check out the report.
Does Exterior Paint Increase Home Value?
While painting the exterior of your home will increase the value, it might not be the best return on your investment. According to the Home gains survey, exterior paint will only return about 55% of the invested money.
If the exterior of your home needs a little TLC, consider replacing the garage door, installing a manufactured stone veneer, or replacing siding. All three will return a better ROI than an exterior repaint. In addition, a viral trend is to whitewash brick or paint masonry white. If this white house with dark trim fits the rest of the home color scheme, this could ensure the home sells quickly.
Whitewashing brick and masonry make the exterior appear cleaner, plus it brightens the house and the dark trim creates a contrast against lighter colored doors and windows, which is another popular trend for homes these days. These pops of color will make your home feel warmer on the interior and more modern from afar.
Curb appeal is a major influence on the home buyers’ first impressions; consider power washing, decluttering, and landscaping to increase the home’s curb appeal before a repaint. If you would like a step by step guide to sell your Illinois home, check out our 6 Steps to Selling Your Home in Illinois
What are the best Exterior colors of 2021?
It might be difficult to determine which exterior house paint colors are best. Painting your house’s exterior is a large expenditure for a homeowner. As a result, you want to find a timeless yet contemporary house color that will retain appeal to the potential home buyer.
We recommend staying away from trendy colors that might come and go, stick to colors that complement the home. But, you can also choose a color that fits the style of your home. Make sure to stick with neutral colors or darker tones as bold exterior paint colors are not recommended for resale value.
The 5 best Exterior colors for 2021 are
- Sherwin Williams- Alabaster
- Benjamin Moore- White Dove
- Sherwin Williams- Tricorn Black
- Sherwin Williams- Pewter Cast Gray
- Behr- Polar Bear
It would be best if you also considered painting your front door black. According to another Zillow report, homes with dark-colored doors sell for $6,300 more than those with light-colored doors.
What other improvements can increase home value?
Other improvements that can increase the value of your home are:
- Adding a manufactured stone veneer to the exterior of your home. According to Zillow, this will give you an instant update and increase resale value by $15,000 on average.
- Replacing siding such as aluminum or cedar shingles with vinyl increases resale value by $13,400 on average.
- Minor Kitchen updates that can add up to 72% ROI.
No other improvement will increase the value more than paint, but if you see any of the above items that need to be done, then go for it.
Often an overlooked part of selling your home is staging. Staging can make a substantial impact on the marketability of your home.
Conclusion
If you want to increase the value of your home, consider painting it. According to Zillow, the painting will be one of the best improvements for increasing home values in 2021. While exterior paint only returns about 55% ROI, consider replacing other items on this list first before you paint the exterior
You can also contact a realtor to suggest what repairs might be needed to sell your house for the most money possible.
Finally, if you have a home, you consider selling but don’t know where to start. We would be happy to give you our honest opinion on how you might improve the value and help get your house sold fast!
Have Questions? Ask The Velasco Reynolds Team!
Give us a call to learn more about local areas, discuss selling a house, or tour available homes for sale.
