Best Paint Colors to Boost Your Homes Value
A Clean Look has been helping Chicago homeowners upgrade and improve their home values since 1992! We have painted a lot of houses, both interior painting, and exterior painting.
A new study suggests that homeowners may want to consider their choices for paint colors when they list their houses because colors can affect the selling price.
We concur with the Real Estate powerhouse ZILLOW that Sky Blue in the bathroom can make a big difference in helping increase a home\’s property value.
Zillow has a recent article about a survey they did with buyers saying they would pay almost $5,000 more for homes with the restrooms painted sky blue.
This is what Zillow found in a recent analysis, which surveyed about 1,300 recent or prospective homebuyers on what they\’d be willing to pay for homes based on specific interior paint colors.
OTHER WINNING COLORS:
KITCHEN – White Paint Color
BEDROOM – Dark Moody Blue Color
LIVING ROOM – Gray Paint Color
The Right Paint Color Can Be a Key Selling Point
They discovered that the 15 color swatches measured in home kitchens, bathrooms, and bedrooms had an overall impact on the potential offers received.
Blue appears to be a long-standing popular color for bathrooms, with Zillow finding that homebuyers preferred that shade for their powder rooms and could impact a home\’s price by as much as $5,000.
The price premiums are based on the typical home value of $290,000, Zillow said.
Zillow tested 15 colors to find out which made the biggest impact
#1 – Bathroom
Best bet: light blue
Light blue was by far the most popular color for a bathroom. Survey participants who viewed a light blue bathroom claimed they’d be willing to pay more: a 1.6% increase in offer price or a nearly $5,000 increase in value on a $290,000 home, on average.
Good alternatives: gray, dark gray, light yellow, off-white
Though not as popular as light blue, neutral and delicate colors were also favored by buyers. The use of these hues resulted in a slight increase in the prospect of a participant viewing a home or offering a potentially higher price.
Best avoided: bright yellow, bright green, bright red, pink
The survey revealed that a light yellow paint may, on average, work in a seller’s favor. However, its brighter cousin caused a decrease in the likelihood of those surveyed being interested in viewing or making an offer on a home. Buyers tend to veer away from vibrant colors in the bathroom, so it is best to go with a softer shade.
Best bet: white
If you want to make your kitchen attractive to buyers, go with a white wall. According to the study, on average, a neutral light color greatly increases interest in touring a property. It also ups the likelihood of a potential buyer purchasing the home.
Good alternatives: light yellow/off-white, dark gray, gray, dark red, dark green
Many colors fell in the middle range for the kitchen, resulting in a slight increase in buyer interest. However, dark or neutral hues generally rose toward the top.
Best avoided: bright green, pink, bright yellow, bright red
Most of those surveyed had a negative reaction to bright colors in the kitchen. Bright red could decrease the price that buyers would be willing to offer by nearly $1,500, on average. A kitchen painted bright yellow was least likely to inspire intentions of purchasing the home.
#3- Living room
Best bet: gray
When presented to participants, a gray living room wall color resulted in the highest intentions to view and purchase that home.
Good alternatives: light green, white, dark gray, light yellow
As in other rooms, neutral and lighter tones tend to do well in a living room. Light green brought an average offer-price increase of several hundreds, while white and dark gray rounded out the top three colors for inspiring surveyed buyers to tour a home.
Best avoided: pink, bright green, bright yellow
On average, bright green and bright yellow living rooms decreased interest among surveyed buyers to tour a property. Both colors, on average, had a negative effect on prospective offer prices.
Best bet: dark blue
If you are going to go bold, the bedroom is the ideal room for doing so. The majority of those surveyed saw potential in dark blue. So much so that the color increased the average potential price they were willing to offer.
Good alternatives: light blue, white, bright blue, dark gray
You won’t be singing the Chicago blues if you go with that shade in a bedroom, according to the study. Blue walls were appreciated among those surveyed. Other good options are dark and light neutrals to help create the vibe of a relaxing at-home getaway.
Best avoided: bright yellow, bright green, pink
It may come as no surprise that, once again, these boisterous colors landed at the bottom of the list. In a separate survey of potential buyers and sellers, both groups claimed they’d be less likely to paint a room any of those colors, regardless of the room’s purpose.
Here are some other popular paint colors that have been shown to increase interest in a home:
– Light blue: In the bedroom, this color increased the average potential money offer.
– Gray: This color resulted in the highest intentions of viewing and purchasing a home.
– Off white: When looking at certain rooms, like bathrooms or kitchens, this is another color that can be helpful for increasing buyer intentions.
Here are some colors that have been shown to decrease buyer interest or be less likely to elicit offers:
– Bright yellow: This color decreased the average potential money offer by nearly $1,500.
– Bright red: A kitchen painted bright red was least likely to inspire intentions of purchasing the home.
– Pink: In the bedroom, this color more than halved the intentions of viewing and purchasing a home.
– Dark green: In the survey of those who either owned or were selling their homes, dark green ranked among the top five least-liked colors for living rooms. That\’s why it\’s important to find out what an offer means before you agree to take one.
– Bright green: Like with the kitchen, this color resulted in a lack of interest among those surveyed who either owned or were selling their homes.
CONCLUSION ON PAINT COLORS
The Zillow survey revealed that people have a strong preference for neutral colors in their homes. If you want to sell your home, it\’s important to consider the color of the walls before painting them.
The best paints for increasing offer prices are dark blue and gray with off-white being another alternative if you’re looking at bathrooms or kitchens.
Keep in mind bright yellow, pink and green can all decrease interest among those who either own or are selling their homes so be sure they don’t overpower any rooms too much!
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