Increase Your Home’s Value with Paint
We have clients ask us whether or not painting your walls will truly increase the value of your home. Or if investing in a professionally sprayed finish is worth it if you’re planning to sell in a year or two. In this article we will briefly outline the ways in which investing in a new paint project can increase the value of your home, and help make it stand out on a saturated market.
Kitchen Cabinet Painting
Refinishing your kitchen and bathroom cabinets, trim and banister railings in a professionally sprayed finish can be a great investment towards selling your home, as the end result is similar to a renovation project without the costs of a full remodel. Spending significantly less on painting rather than renovation can do wonders for increasing value of your home.
While painting your kitchen can cost $4-7000, a full replacement can be literally 10 times that amount, $40-70,000! Whereas the end result can be similar – providing the home with fresh, updated cabinetry that looks brand new!
Buyers regularly pay extra attention to certain key features like the kitchen and bathrooms. A home will garner significantly more attention with cabinets that are professionally refinished with a high quality sprayed finish.
Considering the importance of cabinetry in a home and the severity with which it can age, investing in professionally sprayed finish prior to selling can have a monumental impact on the value and eventual asking price. Especially when compared to the cost of renovation.
The end result is a brand new luxurious finish and feel to your cabinetry, giving any client looking at selling their home a massive leg up on other homes in the neighbourhood that have made no major improvements.
Wall Paint
There is concrete evidence that painting a home prior to selling can increase the value by at least five percent. In the United States, the National Association of Realtors 2021 Profile of Home Staging said 63% of real estate agents would recommend painting interior walls prior to selling.
First and foremost, first impression is a genuine factor. Freshly painted walls will attract more interest than a home sporting paint from 2005. Even under gentle use, wall paint wears over time. Hiring a professional company to sand, fill, prep and repaint your home’s walls makes a huge difference in how the home is presented. Painting instantly adds significant value to the interior space.
Most buyers will not be discouraged if a certain home has a slightly higher asking price, if the walls look brand new and the interior space is modern and updated.
Colour Trends
As of late, many of the colours that sell quickly are neutral, bright and modern shades of white and grey. While warm, earthy tones seem to be on the horizon again.
Various shades of whites, cool and warm greys, and darker blues and greys for accent colours on both cabinets and walls. Repeating an accent colour can provide continuity in a space. Using the charcoal on an island as an accent wall or powder room colour for example. A popular choice for some is to match their wall colour to their trim and cabinetry colour, separating them with sheen only. This creates a cohesive interior look that accentuates features and interior decoration.
If you’re painting your interior walls to sell, ask your realtor what the current trendy colours are in your area and what is selling the best. It’s hard to balance between design that will be a crowd pleaser vs something that will pop and be memorable. Your realtor should be able to guide you as to what paint colours will increase value the most.
Of course, we’re always here to help too. Colour consultations area complimentary service for all of our clients.
You Have Options
These decisions are always up to the owners. How much they want to invest to increase value of a home and whether or not the market is in the seller’s favour are important things to consider.
Regardless, a home for sale that is sporting freshly painted walls and a newly finished kitchen will always have the benefit of feeling updated and new. It will also more than likely sell more readily than a home that has not made any major improvements to the interior finish.
If you’re selling your home, and want to get a leg up on the rest of the market without investing in a major renovation project. Repainting walls and interior trim work or cabinets is a great option. Keeping costs down, while simultaneously making broad, impactful changes to the interior look and feel of your home that will surely attract the attention of buyers.