As every homeowner or property investor knows; the façade of your building and its interior aesthetics are two important elements that determine the home’s value. People viewing your home for the first time will make a subjective judgment of how much it is worth based on what they see. That is why the initial impression visitors have of your building is vital.
But how do you keep the property looking attractive without spending a lot of money on it? Making your home beautiful is not hard if you are willing to throw money on the building. The challenge is finding ways to do it when you are on a tight budget or if you are unwilling to spend money on renovations that don’t guarantee a good ROI.
As the State PM team says, the simple and time-tested way to improve the appeal of your home without breaking the bank is to repaint the house. Painting a building will give it a new lease of life because it completely overhauls its appearance. But this also depends on how you paint the building. Your choice of paint colors matter. The rooms where you choose to use those colors also matters.
What are the best colors for your building and how will they affect the value of the property? Below we take a look at how using specific colors in different parts of the home can affect its market value. The details presented below are based on how buyers respond to homes that are painted in these colors versus homes that are painted in other colors.
Colors that improve your home’s value
Colors have the power to influence the perceived value of a property because colors affect the human mind. Some colors have a mild effect, while others are jarring. The more soothing we find a color, the more we are attracted to objects with that color. Here are the colors which have the most positive psychological impact on buyers.
- Colors for the bathroom
Bathrooms are one of the most important rooms in the home. They are one of the few luxuries most people can afford. Buyers expect the bathrooms to be safe, sanitary, and welcoming. The bathroom color that has the best impact on a home’s value is light blue. On average, buyers will pay 1.6% above the expected value of the home if the bathroom is in this color.
- Colors for the bedroom
Bedrooms are the most important room for unwinding after a day’s work. They serve as a sort of private sanctuary and an area for rejuvenating intimate relationships. Painting the bedroom in colors that create a cozy atmosphere helps to promote its function. The colors that do this best are those in the dark blue spectrum. Dark blue bedrooms add up to $1,500 to the value of a $290,000 home.
- Living room colors
Lighthearted play, interesting conversations, and shared entertainment dominate the living room. To facilitate the room’s role as a common area where the family congregates, you need colors that promote calm and cooperation. The best color for the living room is light gray. Painting the living room in blues, grays, greens, and whites, seemed to produce the best results on the home’s sales price.
- Kitchen colors
The three things to keep in mind when choosing paint colors for the kitchen are: the kitchen is often the social hub for the family so the colors should stimulate conversations, kitchen colors should also stir the appetite, and lastly, the color should make the place feel like a creative space for conjuring delicious meals. The color that does this best is crisp white. Painting the kitchen in this color can add at least $600 to the value of the house.
- Colors for the building’s exterior
Exterior paint color is important because, other than the landscaping, it is the first thing visitors notice. How you paint the exterior of your home gives visitors an insight into what the interior will look like. Just by looking at the exterior paint, buyers decide if they like or dislike the home. The best color for the exterior of the house is greige – a combination of beige and gray.
Considerations when choosing your home’s colors
In addition to the above, here are a few things you should think about when painting your home. Placing these factors side-by-side with the preceding information will help you make the right decision on what paint colors to use for your home.
- The neighborhood’s style
In spite of what we have recommended, if your neighborhood has a dominant style, you are best served by respecting that design. Significant deviations from the neighborhood color scheme will exert a negative influence on the value of every home in the area. Your goal should be to complement and not compete with the neighborhood style.
- Think like a buyer
Most buyers always have an eye on the cost of upgrading the home after they buy it. Painting the home in colors that appeal to most people and which will not cost a lot to change will benefit your sale. Neutral colors as a whole – greige, gray and white – don’t go out of style and they are more stable than bold colors.
- Use contrasting accents
While it is a good idea to play safe by choosing colors with wide appeal, you also don’t want your home’s design to be dull and uninspiring. You can add interest to your neutral color palette by incorporating contrasting accent colors into the design. Painting door and window trims with a contrasting color will add flair to the home.
- Buy quality exterior paint
The price difference between quality paint and the cheap stuff is not a lot, but the difference in terms of finish and durability can be a lot. The problems you get in the future from using low-quality paint will eclipse whatever money you saved when you bought that paint. If you use inferior paint, it will always find a way to reflect in the quality of the job.
- Proper surface preparation is not optional
Surface preparation is the most important part of painting a building. Good surface preparation will improve the appearance and performance of your paint. It will enhance the paint’s ability to adhere to the home’s surfaces, thereby extending its life. Surface preparation is also necessary for fixing imperfections on a surface that is about to be painted. That’s why it’s so important to either do a thorough job, or hire a highly experienced painting contractor.