Does Paint Color Impact Your Home's Value?

Nowadays home buyers want to purchase homes that are updated. Updated homes will garner higher home values. Among the key updates important to today's buyers are exterior and interior paint colors. Buyers are often more attracted to homes with exterior and interior paint colors that are trending versus paint colors of yesteryear.

Curb Appeal and First Impression

When buyers arrive at a home they are going to tour, they notice the curb appeal immediately. The dominent impression is the home's colors. This includes the color of the siding, the roof, the trim and shutters, and the front and garage doors. Popular exterior home colors come and go year to year. Some of the color palettes that are on trend this year for the exterior of your home can be found in the article The Top 10 Exterior Paint Color Trends to Try on Your Home in 2022 on Better Homes & Gardens' website. One of today's trends is a front door color that pops. For example, a home with warm white siding and black roof, trim, shutters and garage door may be attractive with a red or teal door.

Interior Feel

When buyers walk into homes they are touring, they immediately get a feel for them. A lot of a home's interior feel comes from its interior paint colors and buyers notice right away whether or not the home's paint palette is warm and welcoming. Paint colors can make rooms feel smaller or larger than their true measurements as well. Keeping your entry or foyer light, bright and welcoming is especially important. The moment buyers walk through the front door, they start making decisions about the home. Grays are being replaced by beiges once again. So, a neutral gray/beige mix is a wise, updated color choice for walls. In addition, paint colors should try to resonate with people's lives. This is especially true after we continue to take steps to come out of isolation from the Coronavirus pandemic. For example, Pantone's Color of the Year 2022 is PANTONE 17-3938 Very Peri. It is from the blue color family with undertones of violet red. According to Pantone's website, "Very Peri helps us embrace this altered landscape of possibilities, opening us up to a new vision as we rewrite our lives. Rekindling gratitude for some of the qualities that blue represents complemented by a new perspective that resonates today, PANTONE 17-3938 Very Peri places the future ahead in a new light." Using this color as an accent wall here or there in your home will emit feelings of hope.

Paint Color Value

Paint colors matter when it comes to home values. Homeowners who keep their homes' paint colors updated will get more money for their homes when selling them. The article Should I Repaint My House Before Selling it in 2022?, on homelight.com states, "Repainting interior walls increases home value by an average of 5% and nets an ROI of 107%. That means a home valued at $400,000 would increase in value by $20,000." If your home's colors are outdated, buyers will immediately start adding up in their minds how much it will cost to paint. Most buyers put extra high price tags on the labor and materials needed to paint a home. Most of the time, you can paint for way less money than a buyer will assume.

Before you list your home for sale, consult with an interior designer or your real estate agent for advice on paint colors for the exterior and interior of your home. If some or all of your home has outdated colors, obtain a few quotes and have the work done. If you heed this advice, you will enjoy a higher home sales price than those who do not.