Sellers Who Repaint the Bathroom May Earn $5K More
While sellers’ ultimate goal might be presenting a home that looks like new, a study found that even small improvements can translate into higher resale values.
ORLANDO, Fla. – A new study from Zillow found that every little home improvement helps.
Rather than spend thousands of dollars on expensive home renovations, the study found that something as simple as painting the walls light blue can improve a home’s price by up to $5,000.
Zillow tested 15 paint colors, ranging from blues to shades of grey, to see what colors in selected rooms would increase buyer interest or willingness to pay more for the house. The survey of nearly 1,300 recent or prospective U.S. home buyers found that a light blue bathroom wall was a hit, leading home buyers to offer 1.6% more for the house – almost $5,000 on a $290,000 home.
Colors like gray, dark gray, light yellow and off-white fared well as backups for the bathroom. A dark blue bedroom and a white kitchen also sparked buyer interest.
However, some colors turned buyers off, including a bright red kitchen, which led one potential buyer to offer $1,500 less on the home.
“Homeowners who are preparing to list their home for sale can be strategic about the paint colors they select to get the most bang for their buck,” says Amanda Pendleton, Zillow’s home trends expert. “Interior painting averages $385 per room, but the right colors can pay for themselves.”
Source: Orlando Sentinel (07/21/21) Randall, Amber
© Copyright 2021 INFORMATION INC., Bethesda, MD (301) 215-4688