Prince fans may think purple is the ideal exterior paint color for a home, but as any real estate agent in Westfield, IN, can confirm it’s unlikely to make selling your home any easier. Your house color (or even the house color of your neighbor’s home!) can affect your home selling price.
Why is your Home Color Important for an Appraisal?
Your actual home’s worth isn’t likely to be impacted by a garish paint job, or the paint of the house next door. The appraisal process is looking at the value of the home based on its’ structural integrity and its square footage, among other aspects, and paint color really isn’t part of how much the actual house is worth. However, if the paint means the incoming homeowners may immediately have to hire professionals to rectify what they feel is an eyesore, it can cause a dent in selling price.
How is your Home Color Affecting the Selling Price?
What the market will bear is going to depend on a variety of factors – if your house is in the best school district, paint isn’t going to be a deal breaker. If you have a loudly painted orange and green home in a street lined with staid New England houses, it may detract from part of what you are trying to sell overall – which is a mood and an environment. Did you know the color of your home could affect its sales price?
How does an HOA affect the Color of Your Home?
Home Owner Associations often have rules about paint color for exactly this reason: a garishly painted house can kind of ruin the mood of the whole block. Check before you paint to see if you’re breaking any bylaws, and refer to the HOA if you have a question about your neighbor’s questionable taste!
What are the Best Paint Colors for Your Home?
The following choices can increase or decrease your home’s final sales price!
- The neutrals steal the show. A dark blue, slate grey, or even charcoal front door can hike your home’s perceived value by over $1500! Houses with grey, beige, or “greige” combo exteriors sell better than homes with white exteriors by about $1500.
- Style and location matters. Lavender is best reserved for Victorian gingerbread houses; stucco is Southwest color, Pepto pink should only be seen in Florida or California, Vermont towns may ding you if you use any except a narrow palette of colors, and homes that are classed for restoration may even dictate the chemical makeup of the paint you can use.
- Yellow is cheerful. Miami, New England, and South Texas are great places to capitalize on yellow tones – mix with cool greys to toe it down a little. This color combination is a great color to increase the value of your home!
- Red doors are traditional but can be overdone. If you decide on a red door, make sure it fits with the rest of your décor scheme.
- The Midwest allows for a lot of variety, but you don’t always have to conform. Scottsdale, AZ, real estate agents can tell you that cool, dark colors are making a comeback.
- Consider the overall weather. White clapboard with dark shutters is charming, but not in the red dirt of Oklahoma, where every smear shows and red dust can make your home appear a sickly shade of russet.
You can’t do much about a neighbor with “out there” tastes, but if you are planning to sell your home soon and a paint job is in the offing, go for safe over flashy for the best price.