If you are a smart real estate investor researching how to sell a home for more money, here is the answer.
For Sale online listings with cool, neutral wall colors fetch higher prices, while listings for homes with white, yellow or red wall colors often sell for less than expected.
A fresh coat of paint in the right color may help sell a home for more money. According to a real estate website Zillow analysis, homes with walls painted in shades of blue or light gray may sell for as much as a $5,400 premium.
A 2017 Paint Color Analysis looked at more than 32,000 photos from sold homes around the United States to see how certain paint colors impacted their sale price on average, when compared to similar homes with white walls.
Homes with blue bathrooms, often found in hues of powder blue or light periwinkle, sold for $5,440 more than expected, the highest sales premium of all colors analyzed. Walls painted in other cool, natural tones like pale gray or oatmeal were also present in top-performing listings.
A home’s exterior color may also have an impact on its sale price. Homes painted in “greige,” a mix of light gray and beige, sold for $3,496 more than similar homes painted in a medium brown or with tan stucco.
For a pop of color, homes with front doors painted in shades of dark navy blue to slate gray sold for $1,514 more.
Some colors may actually deter buyers. Homes with darker, more style-specific walls like terracotta dining rooms sold for $2,031 less than expected. However, a lack of color may have the biggest negative impact as homes with white bathrooms sold for an average of $4,035 below similar homes.
“Color can be a powerful tool for attracting buyers to a home, especially in listing photos and videos,” says Svenja Gudell, Zillow chief economist. “Painting walls in fresh, 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. Incorporating light blue in kitchens and bathrooms may pay off especially well as the color complements white countertops and cabinets, a growing trend in both rooms.”
Selecting the right paint color is one of many factors that help sell a home for more money or faster. Walls painted in cool neutrals like blue or gray have broad appeal and may be signals that the home is well cared for or has other desirable features.
So if you want to fetch the price for your property, make it nicer! Choose the right paint colors to help you sell a home for more money!