7 Paint Colors to Boost Value
Home sellers are often advised to slap on a fresh coat of paint before listing their properties, but they shouldn't overlook the impact of color.
A Zillow analysis of more than 32,000 photos from sold residential properties finds specific colors can either boost or crimp a home's selling price. The analysis controlled for square footage, the age of the home, the date of the transaction and location, and then compared the sale prices of homes with white walls versus those with more colorful paint.
The upshot? Color makes a big impact on buyers and can serve as a "powerful tool" for attracting prospective bidders, according to Zillow chief economist Svenja Gudell. But trends may change overtime, which is why it's worthwhile to consider what tints are most favorable with would-be buyers. Last year, yellow was a popular choice for kitchens, but another shade has taken its place in Zillow's [recent] survey.
Desirable colors "help future buyers envision themselves living in the space," Gudrell said in a statement.
At the same time, Zillow warned certain colors can put off buyers, especially darker colors.
[To check out how your home might look with a new color, some paint companies offer digital tools that can upload your photos and apply different paint shades to the rooms. Among them are Sherwin-Williams' or Glidden's paint visualization websites.]
7 Paint Colors That Can Boost The Value Of Your Home:
Grey or Blue Front Door: $1,514
Even front doors make an impression on prospective buyers. Zillow found that homes with doors painted shades of navy blue to dark gray or charcoal earn a premium of $1,514.
"Greige" Home Exterior: $1,526
Pick a mix of gray and beige -- "greige" -- for your exterior, according to Zillow. Its analysis found homes with these shades on their outside sold for $1,526 more than white properties.
Blue Kitchen: $1,809
Blue is now the most appetizing color for kitchens, Zillow found. Last year, its analysis showed that yellow kitchens sold for $1,300 more. But in 2017, the preferences has shifted to light blue to soft gray-blue kitchens, which earn an average premium of $1,809.
Taupe Living Room: $1,809
Prospective buyers are attracted to light beige, pale taupe or oatmeal living rooms, paying a premium of $1,809 for central living areas with these shades, Zillow found.That's similar to last year's findings, when light-grey neutrals proved to be the most popular paint shades in living rooms.
Blue Bedroom: $1,856
Blue is thought to be a calming color, which may explain why buyers prefer bedrooms painted in these cool shades. This year's favorite blue shades are light cerulean to cadet blue, Zillow found. Bedrooms painted with these tints receive a premium of $1,856.
Blue Dining Room: $1,926
Serving up a dash of blue in your dining room can deliver an average premium of $1,926, Zillow found. This year's favorite shades are slate blue to pale grey blue. Navy blue is also popular in dining rooms that incorporate white shiplap, a type of rustic wood wall covering.
Blue or Purple Bathroom: $5,440
The biggest bang for your buck will be in the bathroom, where picking blue or purple hues will pay off, according to Zillow's analysis. When it comes to the powder room, think powder blue to periwinkle, the real estate data firm said. The average impact on a home's sale price is a bump of $5,440.
Think Twice Before Using These Colors:
While certain hues can enhance a home's value, some colors can also have a negative impact on prospective buyers, Zillow found. One of the common themes are deep colors, as well as a lack of color.
Here are the colors and room combination that Zillow found had the biggest negative impact on selling price:
Blue living room -$820
Yellow kitchen: -$820
Medium brown, taupe or stucco home exterior: -1,970
Red dining room: -2,031
White bathroom: -$4,035
Picchi, Aimee. "7 paint colors that can boost the value of your home." Money Watch, CBS News. 1 June 2017. https://www.cbsnews.com/media/7-paint-colors-boost-home-price/