Painting Seller’s Homes Results in a Significant Return on Investment
Did you know Professional Home Stagers call paint “money in a can”?
We sure do, and here’s why:
A Return on Investment, or ROI is simply the money that gets returned to you after investing to sell. When staging a home, painting the interior of a property is one of the best updates a homeowner can make prior to listing. A fresh coat of paint in a neutral colour when listing can mean a 107% ROI.
Choosing the right paint colour is key to merchandizing the property to help show the home off to buyers. That helps the seller get top dollar.
Start with the front door. According to Zillow, painting the front door black or gray results in a 2.9% increase in sale price.
Painting the interior in light, neutral tones appeals to a large majority of buyers, and makes rooms look bigger and brighter. Further, neutral tones make a space light and airy and, according to Glidden, bring out the rooms’ architectural features. Buyers will be drawn to the architectural elements of the home instead of possibly thinking “Well the first thing I have to do when I move in is paint” (and adjust their offer accordingly).
Light colours also photograph better, for those all important professional photographs for the listing website.
A certified home staging professional and certified colour consultant can work with the sellers’ existing fixed elements (countertops, flooring, cupboards) to choose the right neutral paint colour.
Buyers want “move in ready” homes. Fresh paint in a neutral colour moves that needle significantly.
Ellen Mann is an award winning home staging expert, being honoured as one of Canada’s top 10 stagers in occupied, vacant and luxury properties. In 2019 she was also named one of the 75 most influential people in the staging industry by the Real Estate Staging Association.
Ellen Mann, CCSP