Can Your Paint Color Affect Your Home's Value?
Are you thinking about selling your home? If so, your ultimate goal is most likely to find a buyer who will pay the highest possible price for your property. But in order to achieve this goal, you have to put in some work.
Can the colors you choose for your home’s exterior and interior really affect its overall value? In short, yes -- sometimes by thousands of dollars! However, perhaps the better question is why does color contribute to market value? And if you’re looking to sell your home and want to maximize its potential price tag, which colors should you consider? Let’s explore this colorful topic further.
It’s All About Demand
The real estate market is complicated and constantly changing. Still, the basic principles of economics (supply and demand) apply to the value of a home. Simply put, a home is worth more on the market if it appeals to a greater number of people. In other words, the higher the demand for a property, the more competitive, and therefore valuable, it becomes.
So, if you want to sell your home for a larger amount, you need to make it more attractive to a wider pool of potential buyers. To do so, you might invest in landscaping work, clean up and redesign your interior spaces, make all necessary repairs, and, of course, repaint your home, keeping in mind that certain colors are in higher demand than others.
But what home painting colors should you consider? There are two viable strategies here: either go with long-standing staples or investigate which colors are currently trending.
Tried and True Home Colors
Trends come and go but some home colors seem to always be in demand. Going with these options is always a safe bet even in a volatile market. You might be intrinsically aware of which exterior home paint colors have stood the test of time because most of the homes around you probably boast them. Generally speaking, these colors are neutral, not standing out too much, while still enhancing a home’s appearance. These lighter, neutral tones are often contrasted with darker trim. Common exterior colors that can boost a home’s value include:
- Light grey
As for typical home interior painting colors, the options are essentially the same; neutral, earth tones tend to attract plenty of buyers decade after decade. That said, certain shades of blue in interior rooms also help sell homes and increase their value, especially muted, lighter versions.
What Home Colors are Trending Now?
While picking standard colors for your interior and exterior home painting helps ensure that your home remains valuable, you can boost your home’s value even more in the short-term by instead picking trendy colors. This is a bit of a risk, of course, as trends may only last a matter of months in some cases. Still, it’s worth getting the opinion of your local painters as you consider home colors that might make your home more competitive.
As of this year (2020), some of the trendiest exterior home colors include:
- Nautical blue
- Dark gray-blue
- Slate (dark blue-gray)
- Charcoal (brown-gray)
- Dark/muted red
Currently, trending interior home colors include:
- Dark green
- Navy blue
- Cool tones
Again, these trends are evolving all the time, and some experts will have different opinions on which colors are more or less sought after at this time. Plus, color trends vary by region, so ask your Nashville painting company about which interior and exterior colors they’ve seen rise or fall in popularity regionally over the years.
Considering New Colors for Your Home?
You’ve got plenty on your plate as it is if you’re preparing to sell your home. If you need help making color choices and finally executing them, Nash Painting is here to help. Whether you plan on selling your place or staying put, our exterior and interior painting contractors have years of experience beautifying Nashville homes for all types of homeowners.
To learn more about us, our services, and our values, call us at 615-829-6858 today!