It’s an age-old question that many homeowners have asked before putting their house on the market. According to this article from Zillow, the answer is yes. In 2017, Zillow analyzed houses and determined that exterior paint colors and interior paint colors in specific rooms such as bathrooms, kitchens, living rooms, and dining rooms can affect prices negatively or positively.
Here is some of the data they found on how paint color impacts selling price:
- Light blue or soft gray-blue in the kitchen tends to increase the selling price while marigolds or yellows decrease the price.
- Light blue shades in the bathroom also add to a selling price while shades of white decrease the value.
- As for the exterior of a home, once again, shades of blue or gray have a positive effect on the selling price, while darker colors such as brown have an adverse impact.
- Painting a front door a dark color such as black or charcoal adds value to the selling price. In fact, one Zillow report showed that using one of those colors added more than $6000 to the selling price.
Remember that a selling price is not the same as an appraisal. While the appraisal process is looking at the home value based on square footage, location, structural quality, and other aspects, paint color is not part of that equation. In addition, on average, the colors also have to do with the home being more or less updated. If potential buyers are looking at a home and have to factor in the cost of hiring a professional painter to redo the house with newer, on-trend colors, then their asking price will be greatly impacted.
The good news for homeowners is that making minor changes such as painting a front door or bathroom a popular color is not expensive to do, but it can result in high rewards. For advice on what paint colors and styles add the most value to your home’s selling price, ask the experts at Raleigh Cary Realty today and contact us to learn more.