How Much Can Paint Color Increase Your Home’s Sale Price?

The impact of paint color on a home’s sale price has been the topic of numerous studies and analyses, primarily conducted by real estate companies and platforms who have access to vast amounts of sale data. One of the most cited sources on this topic is Zillow, an online real estate marketplace. Zillow released an analysis in their “Zillow Paint Color Analysis” that looked at how certain paint colors in specific home areas impacted the sale price compared to homes with white walls.

 

Painting walls in fresh light, neutral colors help buyers picture themselves living in the space because they are neutral enough to go with most buyers furnishings and they make the space look larger. Zillow found some colors in specific rooms, particularly light blues, increased the sales price in homes, and a lack of color or certain colors decreased the sales price. Why? Color affects emotion and buyers buy because of emotion!

 

Neutral colors are generally gray or beige. Picking the right paint is really about making sure the neutral colors and whites work with your fixed finishes. “Greiges” are a mixture of gray and beige that are versatile and will work with a wide variety of floorings, countertops and other finishes. Greiges are great for living and family rooms and exterior colors.

 

This color data makes sense when you think about the fact that universally, blue is a favorite color worldwide, and that the easiest way for most people to match their existing belongings to a color without having to replaint is if it is a neutral color.

 

 

Here are some highlights from Zillow’s findings over the years:

1. Front Doors:

1. • Homes with black or charcoal gray front doors sold for as much as $6,271 more than expected.

1. Living Rooms:

1. • Homes with living rooms painted in light taupe saw an increase of approximately $2,793.

1. Kitchens:

1. • Kitchens painted in light blue to soft gray-blue boosted the sale price by about $1,809.
   • However, homes with straw yellow or marigold kitchens reportedly sold for $820 less than expected.

1. Bedrooms:

1. • Homes with light cerulean to cadet blue bedrooms saw an increase in sale price by about $1,856.

1. Bathrooms:

1. • Bathrooms painted in powder blue to periwinkle had homes selling for $5,440 more than expected.
   • On the other hand, homes with white bathrooms sold for an average of $4,035 less than similar homes.

1. Dining Rooms:

1. • Slate blue to pale gray blue dining rooms boosted the sale price by roughly $1,926.

1. Exteriors:

1. • Homes painted in greige (gray + beige) on the exterior sold for $3,496 more than similar homes painted in a medium brown or with tan stucco.
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These figures are averages and may vary depending on the local market, the overall condition of the house, and other factors. The numbers are also based on Zillow’s data and may not reflect the broader market as a whole.

Which Colors Are Best?

Several studies and real estate analyses have shown that certain paint colors can positively affect a home’s sale price. Here are some colors that have been recognized for their potential to boost home value, along with specific brands and color names where applicable.

 

Colors that become top sellers are often influenced by the annual “color of the year” selections made by major paint companies, as well as broader design and decor trends. I have added some additional choices similar to those recognized to boost home value based on top selling paint colors, color trends and personal experience. 

Front Doors

Navy Blue or Dark Gray: Houses with doors painted shades of navy blue to dark gray reportedly sold for a higher price. Here are top selling navy blue and dark gray colors that are popular and  could be good choices. Example: “Hale Navy” from Benjamin Moore.

The color trends for door colors in 2023 featured a lot of black and natural wood tones. Trends for 2024, you will see pops of color as well as traditional black and wood.  Personally, I think the front door is a great place to add a pop of color and make your home more memorable to buyers.  It is something they can easily change if they like.

Living Rooms:

Light Beige, Pale Taupe, or Oatmeal: Neutral colors in the living room can be appealing. Example: “Accessible Beige” or “Repose Gray” from Sherwin-Williams.

I have used Accessible Beige many times for home staging and found it to be a great color that works with a variety of fixed finishes and flooring.

Kitchens

Light Blue to Soft Gray-Blue: These colors in kitchens reportedly increase home value. Example: “Smoke” or “Pale Oak” from Benjamin Moore.

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Bedrooms

Light Cerulean to Cadet Blue: These are reported to increase selling prices when used in bedrooms. Example: “Breath of Fresh Air” from Benjamin Moore.

Bathrooms

Powder Blue to Periwinkle: Homes with bathrooms this color reportedly fetched a higher selling price. Example: “Bit of Sugar” from Behr or “Atmospheric” from Sherwin-Williams.

Dining Rooms

Slate Blue to Pale Gray Blue: They can reportedly increase the sale price. Example: “Palladian Blue” from Benjamin Moore.

Exterior Colors

Greige (Mix of Gray and Beige): Homes painted this color often sell for more. Example: “Perfect Greige” from Sherwin-Williams.

Home Office

Light Gray: This can boost the selling price. Example: “Gray Screen” from Sherwin-Williams.

Putting it All Together

You might be wondering if you can simply choose your favorite colors from the recommended list and expect a higher selling price. The answer is not quite that straightforward. These recommendations serve as guidelines, but your entire color palette must work cohesively, starting from the exterior of your home and flowing seamlessly to the interior. Both exterior and interior colors should align with and complement fixed finishes that you don’t plan to change much, such as your roofing material, stonework, interior countertops, fireplaces, and flooring. It’s like solving a puzzle where each piece must fit together to create the whole picture.

When executed correctly, your color choices can be extraordinary, enhancing the overall appeal of your home. However, if the colors clash or feel disjointed, even if you can’t pinpoint the issue, potential buyers may sense that something isn’t quite right. The most effective strategy is to enlist the expertise of a certified color strategist who can curate a harmonious color palette based on your fixed finishes. By following these guidelines and working with a professional, you can increase your chances of selling your home faster and at a higher price.

 

Now that you understand more about color, why not let me help you get your colors right with a science based color consultation? Let’s get you the most possible on your home sale.

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Did you know that you can increase your vacation rental income and bookings with home staging?

Home staging highlights the positive and downplays the negative aspects of homes for sale. A professional stager creates a look and atmosphere that buyers make an emotional connection with and they want to buy through decorating and market research. It’s the emotional connection that cinches the deal. Sellers then market their properties to attract buyers online with great photos of their beautifully staged home.

The same principles work with vacation rental properties such as Bed and Breakfasts, and other rental units.

“Whether you have investments in multiple apartment buildings, a few vacation properties or a single apartment in your basement, you can’t afford to have vacancies” says internationally recognized home stager Debra Gould, the Staging Diva.

“As a landlord, have you considered hiring a professional home stager to enhance the appeal of your rental units? If you have a property to rent, you should make a call to an expert home stager as soon as a tenant vacates the premises” says Gould in her article “Home Staging Boosts Demand for Rental Properties”.

After deciding who your ideal customer is, Home Staging can update the look of your rental to reflect your brand, appeal to your ideal customer and justify the price you want to charge.

Staging helps you get great photos for your online advertising that attract your ideal guests, increase your rental price and get more bookings.

Staging works for Bed and Breakfasts, vacation rentals and other rental properties. For more information on Bed and Breakfasts, check out my article, “Attract Your Ideal Customer and Increase Your Bed and Breakfast Income”.

I staged this property that had been a rental unit for the owner to sell. After listing it, they realized they could make more money by keeping it as a rental and used the staging and great photos to increase their income and bookings instead. After listing it on Airbnb and other sites, it created a buzz and generated more interest than other neighboring properties in the same area, increasing their rental price, income and bookings from what it had previously brought in as a rental unit before staging.

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Increase Your Vacation Rental Income And Bookings Today

I can help you make it happen. Start with a Vacation Rental consultation.

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Market research is the first thing you should do before developing a plan for staging your house if you want to make top dollar on your home sale. I know, market research sounds boring. Why should you care?

 Here’s why:

1. Understanding the Target Audience: Market research will help you understand who the potential buyers are in your area. Knowing your audience means you can stage your home in a way that appeals directly to their preferences and needs.

2. Pricing Insights: Through research, you can ascertain the average selling prices for homes in your area, ensuring you don’t undervalue or overprice your property.

3. Identify Trends: Market research can reveal current home design trends that buyers are gravitating towards. By staging your home in line with these trends, you increase its appeal.

4. Stay Competitive: By understanding what other sellers are offering, you can ensure your home has a unique selling proposition that differentiates it from other properties on the market.

5. Minimize Time on Market: Homes that are staged in line with buyer preferences tend to sell faster, reducing the amount of time your property stays on the market.

6. Optimal Use of Resources: Instead of randomly buying or renting furniture and decor for staging, market research helps you invest wisely in enhancements that are most likely to yield a return on investment.

7. Anticipate Buyer Concerns: Research might reveal common concerns or objections from homebuyers in your region, allowing you to address these proactively through your staging and marketing efforts.

8. Increase Return on Investment: Homes that are staged effectively, considering the preferences of the target market, often fetch higher offers from potential buyers. Market research can show you what type of finishes and amenities similar houses have.

9. Professional Perception: Demonstrating that you’ve conducted thorough market research and staged your home accordingly can instill confidence in potential buyers, positioning you as a thoughtful and professional seller.

10. Tailored Marketing Strategies: Once you’ve gathered insights from your research, you can tailor your marketing strategies to highlight the features that matter most to potential buyers in your area.

In essence, market research ensures that the effort and resources you put into staging your home align with what potential buyers are looking for, thereby enhancing the likelihood of a quick and profitable sale.

What is Your Price Range

Look at the range of prices. If you want to be on the top end of the range, your home needs to look as good and better than the other homes in that part of the range to stand out. That is where home staging can really help you outshine the competition.

Who is Your Target Market

To pinpoint your target market, consider the nearby businesses and educational institutions. Local businesses might appeal to employees or those drawn to their services, while proximity to schools can attract families with young children. Nearby medical facilities could be a magnet for healthcare professionals or even for those prioritizing health and convenience, like the elderly. Consider: Is your home perfect for retirees looking to downsize? Or is it more suited for first-time homeowners or millennials? The aesthetic preferences of these groups will differ significantly. Remember, the décor and color palette that resonates with one demographic might not strike a chord with another, influencing your staging decisions accordingly.

What Investments will give you a Good Return

Another reason to do market research is to look at what type of amenities similar homes have such as countertops and flooring.  So, for example, if you are going to be updating your countertops before selling, and everyone in the area has granite countertops, it probably won’t be a good idea to update with Formica, or to invest in granite if everyone else has Formica. In the first case your home will not look as nice as the competition, and in the second, your house will look nicer but will not likely get back the return on the investment you made with your sale price. 

How to do Market Research

1. Hire a Professional Stager: Consider investing in a professional home stager right from the start. They typically conduct their own market research and possess a keen understanding of what appeals to buyers in your specific locale.

2. Understand the Demographics: Analyze the typical buyer profile for your area, focusing on age, family size, income levels, and professions to determine whom you’re staging for.

3. Analyze Local Real Estate Listings: Browse local real estate platforms to gauge how similar homes are staged. Look for dominant styles, colors, and arrangements.

4. Visit Open Houses: Gain firsthand insights by attending local open houses. Observe successful layout and decoration strategies.

5. Seek Feedback: Engage with friends, neighbors, or colleagues who’ve recently purchased homes. Their preferences can provide staging direction.

6. Consult Real Estate Agents: Tap into the expertise of real estate professionals to gain insights on market trends and effective staging methods.

7. Survey Potential Buyers: Conducting informal surveys or discussions can help delve deeper into the needs and desires of potential buyers.

8. Check Online Forums and Groups: Online platforms like Reddit or local Facebook groups offer genuine insights from local homebuyers.

9. Consider Local Amenities: Research nearby institutions like schools or hospitals, and consider the types of families or individuals they might attract.

10. Study Interior Design Trends: Keep abreast of current design trends to ensure your staging feels modern and inviting.

11. Analyze Previous Feedback: Reflect on any feedback if your home has been previously evaluated or listed. Such insights can guide refinements in staging.

Executing market research before staging ensures your home resonates with a broad spectrum of potential buyers, increasing the likelihood of a swift and profitable sale.

Ready to Sell?

A professional home stager will do market research on your home before staging, and consult with your Realtor if you have one on the expected target market. They are experts at decorating to make an emotional connection with your target buyers. Get started with a home staging consultation today. 

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Interested in become a home stager? Try the Staging Diva Home Staging Training. This is what I did and highly recommend it!

 

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Why hire a professional home stager?

There are lots of simple things homeowners can do on their own to decorate their homes to sell. They can get rid of clutter, repaint, clean or put out fresh flowers. So why hire a home stager?

Many homeowners are unsure of what paint colors to choose or where to move the clutter. The process of selling a home can be completely overwhelming. They often lack real estate knowledge about their local markets and how homes in their price range should look.

A home stager has the ability to look at a home with a fresh pair of eyes. They view the home as a highly critical buyer would see it. Home staging expert Debra Gould provides five examples of how a professional home stager can benefit you:

1. A home stager knows what’s needed to create the right environment quickly and at the lowest cost.
2. A home stager knows what homes in different price ranges look like and what’s selling. They will give homeowners suggestions that their real estate agent may be afraid to offer because the agent does not want to risk losing the listing.
3. A home stager is not emotionally attached to any of the home’s contents, which means that they can see the home in a way that someone who has been living there for years simply cannot. Using their fresh vision, they recommend the optimal way to rearrange existing furniture, art and accessories.
4. A home stager can quickly choose new paint colors, flooring, tiles, countertops or any number of finishes. They have a ready source of painters, cleaners, handymen, off-site storage and a myriad of other services that may be needed on short notice.
5. A home stager can bring in replacement furniture, accessories and art if what is there isn’t appropriate for the home’s target market or the home is empty.

 

Home staging is not just for multimillion dollar homes. Even for modest homes, staging can have a dramatic effect on the selling price and the number of days spent on the market. For example, one of the homes Gould staged had previously been on the market for months with the best offer being $350,000. She spent 90 minutes with the owner rearranging the furniture, putting items in storage and telling him what needed to be cleaned. He sold the house the following week for $361,000!

 

How many other (legal) ways can you think of to invest $600 and get an $11,000 return on your investment the following week?

Written by internationally recognized home staging expert Debra Gould, The Staging Diva^®, www.stagingdiva.com. © Copyright Six Elements Inc. Used with permission.

Internationally recognized home staging expert Debra Gould is president of Six Elements and creator of the Staging Diva Home Staging Business Training Program with over 4,000 students worldwide. Gould is the author of four home staging guides and offers a Directory of Home Stagers to help homeowners and real estate agents locate home stagers who will decorate homes to sell quickly and for top dollar. To learn more, visit www.stagingdivadirectoryofhomestagers.com

Northern Lights Home Staging and Design provides your local expertise in Alaska home staging, Interior Design and decorating for The Kenai Peninsula and Anchorage. Call (907)-362-0065 today or email us at info@northernlightsstaging.com. Visit us at https://northernlightsstaging.com. 

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Ready to put your home on the market? Assemble a top-notch team to ensure a smooth and profitable sale. Your squad should include an expert home stager, a skilled real estate photographer, and a Realtor who excels in marketing and truly champions your interests.

 

Wondering how to pick the perfect team? Begin with your home stager. I recommend taking the initiative as a seller to make this selection. Choose the best in the business! For insights on why this matters, check out my blog post titled Why Hire a Professional Home Stager to find out more.

Considering selling your home? Proper home staging can significantly boost your final asking price. In fact, effective staging not only recovers its cost but often yields a profit! Additionally, you might be eligible to deduct staging expenses as advertising costs from your home sale taxes.

However, a word of caution: avoid Realtors offering staging services unless they’re professionally trained. Ineffective staging won’t produce the desired effect. An exceptional Realtor will likely suggest, and perhaps even cover, the cost of a professional home staging consultation.

Exercise caution if your Realtor offers to choose and fund the staging. While it sounds enticing and can lure clients, many just opt for the most affordable stager. Some might even inflate this cost for you. Remember, cheaper options can result in an unappealing presentation, leading to prolonged market time, several price cuts, and mounting monthly expenses.

Often, Realtors request “light staging” or “minor fluffing,” a minimalistic approach to make a property appear staged on a budget. This strategy, which might involve sparse furniture or sporadic décor, isn’t effective. Instead of a charming home, it renders the property peculiar both online and offline.

Your best bet? Personally hire a top-tier stager. This investment, done correctly, offers maximum returns.

For tips on hiring the best home stager, refer to my article, “Five Common Mistakes Homeowners Make When Hiring a Home Stager. 

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