How paint colour can add nearly $5,000 to your home’s sale price
It’s no secret that a fresh coat of paint can do wonders to refresh your home and increase its resale value. It’s also one of the most cost-effective ways to prepare your home prior to putting it on the market in order to increase its value. But did you know that there are specific colours that boost your home’s value more than any other? According to a Zillow study, here are the top colours that could net you up to $5,000 more for your home.
Bathrooms: Light blue
Light blue is by far the most popular colour for bathrooms, and for good reason: homebuyers are willing to pay 1.6% more on average for a house that has light blue walls in the bathroom.
Light and bright is the way to go in the kitchen: Homebuyers primarily look for white, bright kitchens. The colours to avoid, however, are anything too bold like bright greens, pinks, yellows and reds.
Living room: Greys
According to the study, “light green brought an average offer-price increase of several hundreds, while white and dark grey rounded out the top three colours for inspiring surveyed buyers to tour a home.”
Bedroom: Dark blues
Itching to go bold, dark and moody? Choose the bedroom to be daring. Homebuyers agreed they were more likely to pay more for dark blues in the bedroom. Other good options are dark greys or the complete opposite – bright whites.
In a similar study conducted with real estate agents, Zillow concluded that nearly 100% of agents recommended repainting any room that is bright pink, bright green or bright purple. Overall, neutral tones tend to have a more positive effect on both purchase intent and prices.