Boost Your Home’s Value With These Paint Colors
Which paint colors will give you the biggest increase in your home’s value and which hues should you stay away from?
As a quick, easy and inexpensive way to update a room, paint is hard to beat. But the benefits go further than that. Just by choosing certain colors, the pay-off can be huge — up to several thousand dollars if you’re looking to sell your home.
According to Zillow, a real estate marketplace, new research suggests paint colors can influence the dollar amount a buyer is willing to offer on a home by as much as $5,000. Here are their recommendations:
Light Blue Bathroom
The most striking home value boost was seen in light blue bathrooms. Homebuyers were more likely to tour and purchase a home when it had a light blue bathroom. More importantly, they were willing to pay 1.6-percent more than anticipated, which translates to nearly $5,000 more on a home valued at $290,000 (the average home value in the United States). In order to capitalize on this finding in your home, simply seek out a soothing light blue shade for your bathroom that promotes peace and tranquility.
Deep Blue Bedroom
Blue was also preferred in primary bedrooms, but in this case homebuyers were attracted to darker, moodier shades that lend themselves to a restful, cozy ambience. Bedrooms with deep blue paint colors resulted in a $1,500 boost in home value. (Again, based on a $290,000 home).
Neutral Common Spaces
As far as common living spaces go — think living room and kitchen — neutral is king. In the Zillow report, a crisp white paint color in the kitchen added more than $500 in home value, while living rooms painted light gray bumped up the offer price by $200.
Why is color so important to potential buyers? Like music, they trigger a strong emotional and psychological response. Blues, whites and grays are not only calming colors, they’re timeless — permitting buyers to envision a home as a fresh, new beginning. These colors help potential buyers to visualize themselves and their personal belongings filling up the space and living happily ever after.
Paint Colors Not to Choose
Also included in the Zillow report were paint hues that could take away from a home’s deemed value. Bright, lively colors in just about every room were shown to be the most unattractive to potential buyers. For instance, bright red kitchens resulted in an almost $1,500 decrease in the average price buyers were willing to offer, and bright yellow kitchens proved to be the ultimate turn-off — buyers were least likely to buy a home that had one.
This is not to say that you shouldn’t choose bright colors for your home. Color is a very sensitive thing and should be chosen based on personal preference and decorating style. If you like bold colors, use bold colors! However, if long-term value is a priority, finding colors that appeal to the widest range of potential buyers might be worth thinking about.