This might surprise you. – by Livia Gamble
If you’re looking to increase the value of your home, a coat of paint might be all you need.
Recent research from US real estate website, Zillow, found one colour seemed to create more for value for a home: blue.
Source: Getty
“Colour can be a powerful tool for attracting buyers to a home, especially in listing photos and videos,” Svenja Gudell, Zillow chief economist, said in a press release.
“Painting walls in fresh, natural-looking colours, particularly in shades of blue and pale grey not only make a home feel larger but also are neutral enough to help future buyers envision themselves living in the space.
“Incorporating light blue in kitchens and bathrooms may pay off especially well as the colour complements white countertops and cabinets, a growing trend in both rooms.”
Zillow’s 2017 Paint Colour Analysis looked at more than 32,000 photos from sold homes to see if paint colour impacted house sale prices when compared to similar homes with white walls – and the results might surprise you.
“Homes with blue bathrooms, often found in hues of powder blue or light periwinkle, sold for $5,440 more than expected, the highest sales premium of all colours analysed,” release added.
“Walls painted in other cool, natural tones like pale grey or oatmeal were also present in top-performing listings.”
On the other hand, some colours were found to deter buyers.
Specifically, darker homes with terracotta dining rooms sold for $2,031 less than expected.
However, leaving the walls white could also have a negative impact with white bathrooms selling for around $4,035 less.
https://www.bhg.com.au/blue-paint-increases-house-value?category=property
Disclaimer: The opinions posted within this blog are those of the writer and do not necessarily reflect the views of Better Homes and Gardens® Real Estate, others employed by Better Homes and Gardens® Real Estate or the organisations with which the network is affiliated. The author takes full responsibility for his opinions and does not hold Better Homes and Gardens® Real Estate or any third party responsible for anything in the posted content. The author freely admits that his views may not be the same as those of his colleagues, or third parties associated with the Better Homes and Gardens® Real Estate network.