Paint colors can make or break a home sale. In the whirlwind of real estate trends and market shifts, the 2024 paint color trends are a crucial factor to consider when prepping a property for sale. It’s not just about a fresh coat of paint; it’s about choosing the right hues that will appeal to potential buyers and maximize the home’s value.
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The Power (and Risk) of Paint
- Painting is a quick and cost-effective way to update a home, especially when getting it ready for sale. However, the wrong colors can have a significant impact.
- Repainting costs can vary based on factors like paint quality, home size, and the need for scaffolding for multi-story exteriors. Exterior paint jobs can range from $1,000 to $6,000, while interior projects are usually less expensive.
- Opting for DIY painting can save on labor costs but still incur expenses for supplies like brushes, rollers, and paint. On average, an interior paint job costs around $2,000.
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Choosing the Right Hue
- While bold colors have gained popularity in recent years, sticking to "timeless neutrals" is often a safer bet when selling a home.
- Real estate experts caution against polarizing colors that could turn off potential buyers. Colors like vibrant yellows or unconventional charcoals may lead buyers to skip past a property.
- When selecting exterior colors, it’s advisable to avoid standing out too much from the neighborhood’s prevailing style. White and neutral tones remain top choices for broad buyer appeal.
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Colors to Avoid
- According to a survey of interior designers, certain colors can be major turn-offs for buyers.
- Red: 59% of designers find it off-putting.
- Lime green: 53% consider it unappealing.
- Bright yellow: 40% advise against it.
- Mustard yellow: 19% recommend avoiding it.
- Even previously popular shades like pink and turquoise are falling out of favor, with designers suggesting steering clear of them.
- According to a survey of interior designers, certain colors can be major turn-offs for buyers.
- Avoiding the ‘Price Erosion’ Effect
- Staging a home is essential, but the colors you choose can impact a buyer’s perception of a property’s value. Bold colors may deter buyers who see additional expenses in repainting.
- Opting for neutral, timeless shades creates a blank canvas that appeals to a wider audience, reducing the risk of deterring potential buyers and maximizing the home’s value.
As you guide your clients through the process of selling their homes, remember that the right coat of paint can make all the difference. Choose wisely, and watch how the colors transform not just the walls but the overall appeal and value of the property.
