Homeowners looking to sell should consider 2018 an opportunity to cash in. (Getty Images)If you’re a homeowner and have been thinking about selling, what are you waiting for? You may
4 Colors That DECREASE The Value Of A Home And 5 That INCREASE It
Home color - whether interior or exterior - is usually a deeply personal choice (unless your HOA tells you what color your house will be!). A seller's perfect color can be the reason it is sitting on the market. Zillow did a study of 50,000 home colors and the effect on the selling price. Here are the results:
1. Slate Gray - Homes with slate gray walls in the dining room got on average $1,100 below the expected sale price for their home. In contrast, living rooms with dove or light gray walls helped increase a home's value by $1,100!
2. Off White - Homes with off white or eggshell kitchens were found to go for $82 below market value.
3. Terra Cotta - Zillow found that homes with this bold paint choice in the living room sold for $793 less than expected.
4. Dark Brown - Some buyers have referred to this color as "dirty" or even "death"! When used in a bedroom or bathroom, the color lowered the final sales price by up to $469. In fact, according to Time magazine, this color is disliked so much that the Australian government almost used it on cigarette packaging to make smoking less appealing!
So, what colors actually ADD value to your home? Read on to find out!
1. Purple - This one may sound strange. As real estate agents, many of us have seen this color abused. But, Zillow found that dining rooms painted mauve, eggplant, or lavender increased the sale price of homes by $1,122!
2. Tan - Paint your bathroom in an oatmeal or beige and you'll see the sale price of your house go up $283!
3. Yellow - A creamy or wheat-colored yellow if your kitchen can increase the sale price of your home by $1,360!
4. Green - In the bedroom, focus on light green or khaki colors to see an increase of $1,332 on your sale price!
5. Light Gray - Dove or light gray in the living room can increase your sale price by $1,104!
So, while it may be tempting to paint a wall or room your favorite childhood color of royal blue or cardinal red - do your research first! First impressions are crucial when selling a home. Repaint if you need to, and do your research when selecting colors for your new home!
Source: zillow.com, simplemost.com
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