What does the colour of your home say about its value?
Most people like to renovate when or before they move into a home. The opportunity to give the walls a fresh coat of paint, re-carpet the floors and modernise the home is an exciting part of a new property.
When selling a home, you’ve probably seen potential buyers commenting on what they’d do to improve the look of the property.
However, have you ever considered painting the house before you begin the selling process? It could increase the value of your property!
Gone are the days where choosing off-whites are versatile colours for a home. While they do promote warmth and the illusion of space in a home’s interior design, it could decrease the value of your property.
According to new research from Zillow Digs, homes that were painted darker colours, such as slate grey and brownish-oranges, fetched around $1,100 under the asking price. Neutral colours such as white and beige fared similarly, surprisingly.
Although neutrals have long been the default paint colours for a home, when browsing property, it’s likely that these homes don’t stand out, whereas unconventional colours did. The same research pointed towards homes with yellow kitchens fetching up to $1,300 more than anticipated.
It can be because kitchens are meant to be bright, sunny areas, which creamy yellows reflect, whereas a white kitchen can make an area appear too pristine and formal – not what kitchens are meant to be!
It’s good to keep consumer’s trends in mind when trying to sell your home. The Real Estate Institute of Victoria (REIV) recently reported a surge in the value of small homes in inner Melbourne. With limited space, you don’t want to reach towards darker colours such as grey, terracotta and forest green.
Meanwhile, with smaller homes such as cottages in demand, you need to establish a character for your home before selling, as there is less space for potential buyers to judge on. With prices reaching as much as $1 million, according to REIV, you definitely want your small property to look attractive!
Before you put your house on the market, have a look at similar properties and take note of trends. You’ll want your property to stand out among the ones you see.
A trusted real estate agent behind you can help give you further advice on how to sell your home for the best price possible. Is it time to get those paint brushes out?