Choose the wrong colour and you could actually decrease the value of your home.
It’s no secret that a coat of paint could add thousands of dollars in value to your home but choose the wrong colour and you could actually decrease its value.
According to Zillow’s 2018 Paint Color Analysis, when you paint your front door a shade of black, you automatically add thousands to your house price.
This rationale is based on observance of 135,000 photos of houses sold in the United States last year. While this analysis comes from the United States, it’s still worth considering.
Home design expert Kerrie Kelly shares her theory.
“For a seller, painting a front door is one of the least expensive home prep projects, but also one that can have a powerful impact on a home’s sale price,” she said.
While it’s amazing to think that such a simple home job as painting your front door could increase your property value by thousands, there are some other colour combinations that were successful.
According to the research:
- Front doors in shades of black – charcoal, smoke or jet black – sell for an average of $US6271 more.
- Light taupe – grey with a tinge of brown – living rooms sold for $US2793 more. This could include warm tan with pink or peach undertones, or accent walls with darker peach to pink undertones.
- Light blue bathrooms sold for $US2786 more.
- ‘Tuxedo’ kitchen cabinets – light-coloured upper cabinets paired with black or dark navy lower cabinets often paired with a lighter wall colour for high contrast – sold for $US1547 more.
Colour combinations that decreased sale prices included:
- Yellow exteriors sold for an average of $US3408 less.
- Red kitchens in any shade sell for $US2310 less.
- Brown dining rooms in any shade sold for $US1684 less.
According to Victoria Gimson, design director and founder of Decorum Interior Design, the one colour that will add value to your home is ivory.
“Ivory gives the illusion of a fresh space,” she explains.
“So buyers are more likely to think that a property has been recently decorated and is well taken care of.”
“Ivory acts as a blank canvas to furniture, artwork and accessories and automatically creates a feeling of space so buyers will feel as though they are getting more for their money.
“A lick of fresh ivory paint,” she says, “is a minimal investment in time and money that could potentially increase sales figures by thousands.”
New York-based interior designer Tali Roth agrees: “It's a 'forever colour' that has featured throughout every era.
"It’s luxurious in the sense that it is delicate by definition and must be handled with care. Plus, all ivory spaces appear to be larger, loftier and airier."
Ms Roth also believes that ivory is easier to apply than other colours.
Read more at www.moneytalksnews.com
Do you know of any colours that add value to your home? What colour is your front door? Are you now inclined to give it a lick of paint to add value to your property?