How the exterior color can affect the house price of your Home

Dated: 08/07/2018

Views: 68

Great article - Consider Paint before Listing your Home!

There are a lot of costs to consider when turning a run-down house into a beautiful new home again. What if we tell you, that something considerably low-cost can make a significant difference not only on the number of buyers you can attract but also the selling price of your project?! 

Zillow’s 2018 Paint Color Analysis looked at more than 135,000 photos from sold homes around the country to see how certain paint colors impacted their sale price on average. These are some of the surprising results. 

Yellow houses once sold well, but according to Zillow, homes this color now sell for less.Can you tell how this Fix and Flip of one of our borrowers wins with a greige-blue make-over?! Properties with a grey-ish exterior sold around 1.2% higher or at least $3,496 more than similar homes painted in a medium brown or with tan stucco. Home exteriors with creamy yellow or flax yellow hues reduced potential sale prices by up to $3,408. In general,  painting walls in fresh and natural-looking colors, particularly in shades of blue and pale gray not only make a home feel larger, but also are neutral enough to help future buyers envision themselves living in the space [Source: Zillow

Add character and charm by painting your window trim and architectural details in a contrasting accent color. And don't forget that you can also use color to emphasize your entryway. In one of our recently funded projects, our borrower did everything right by changing the exterior color to a popping neutral blue that has broad appeal, and may signal that the home is well cared for or has other desirable features [Source: Zillow]. The white accentuates the Victorian style home while the light brown door makes the entryway appear larger and immediately draws attention. These colors harmonize well together and give this property a fresh eye-catching look without being too colorful.

The most bang for your bucks lies in the color of the front door though. Zillow found that homes with black or charcoal gray front doors sell for $6,271 more than expected. This was the highest sales premium of all the room and color combinations analyzed [Source: HBS Dealer].

If you're looking to sell, these findings can help you move quickly and get a better price for your home with minimal time, work, and money. In general you can say that trends in exterior paint move at a snail's pace. The color you choose today is very likely to still be in style tomorrow, or ten years from tomorrow. White used to be the "safe" choice, but more and more homeowners are experimenting with color and tinted neutrals. Tour a few neighborhoods to get a sense of what others are opting for [Source: Bobvila]. 

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Teresa Schwartzman

Teresa is an accomplished Real Estate customer service specialist. She has over 40 years of customer service experience with several Fortune 500 Companies in the food and beverage industry that she br....

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