Home Mortgage Alliance Corporation (HMAC)

Selling your house? Shift those paint choices into neutral

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Published Date 11/12/2024

What makes a buyer buy? Is it the stone kitchen countertops? The huge oak tree in the front yard? When it comes to first impressions, one must wonder what impacts a potential buyer’s first impression most and what makes them decide, the moment they walk in, that the house is just not for them?

Realtor’s Claudine Zap cites a group of real estate experts and determined that your home’s paint colors could very well cause it to plummet in value. “There’s nothing like a fresh coat of paint to give new life to an old (or not-so old) home,” says Zap. “A new color palette can transform a place from blah to beautiful, and it’s especially effective as a quick tool when preparing a home to sell.”

She goes on to say that choosing the wrong paint colors can also have the opposite effect and turn off buyers. “It’s enough to cause a lot of confusion; but if home value is the goal, then there is an array of hues you should steer clear of completely.”

Zap points to a recent paint color report on the website Fixr, which highlights the 2024 paint color trends—and now listing agents are chiming in to share their opinions on this divisive topic.

First off, for the outside of your home, it’s no secret that paint is the easiest as well as one of the most cost-effective ways to quickly update your home with a brand-new look. Expenses can vary widely, but an exterior job that boosts curb appeal will set you back as much as $6,000, or as little as $1,000. Factors that determine that cost include the paint quality, home size, and number of stories, which may require scaffolding to finish the job.

Inside is a different (and less costly) story, says Zap. “Depending on the size of the space, homeowners often opt to paint walls themselves, which saves some money on labor. Expect to pay for equipment (brushes, tape, rollers, a ladder), which can cost a few hundred dollars, along with the gallons of paint.”

Of course, the amount of paint you’ll need depends on the square footage, but be sure to err on the side of buying more paint rather than less, in case you need extra for touch ups later. According to Realtor.com, an interior paint job costs about $3.50 per square foot, or about $2,000 on average. This includes a coat of primer along with the cans of color you select on top.

Bold is not the best choice right now. While many stick with neutrals and classic white, first impressions are key for buyers who want a neutral, blank canvas where they can imagine themselves living. “Bold paint colors—like eye-popping yellows or moody charcoals—might seem daring, but they can sink your home’s value if not executed flawlessly by a designer (and even then, it could still be risky),” says Realtor Jenny Lenz. “In today’s market, buyers often swipe past homes with polarizing colors before they even set foot inside.”

She adds that sticking to “timeless neutrals” is a better bet to appeal to the “widest audience and set the stage for a faster, more profitable sale.” And when considering exterior paint shades? Take a look at the homes on your block. “When it comes to the exterior of homes, I always say, don’t be the outlier in the neighborhood,” says listing agent Jonathan Yarton. “Too often, I see a gorgeous neighborhood of homes interrupted by one resident that decided neon blue was the correct choice for their home.”

Indeed, real estate agents agree neutral tones can help position a home for a successful sale. “Ever since I entered the industry, white has consistently proven to be the most impactful color for properties in terms of sales, alongside neutral tones,” says agent Santiago Arana. “These hues not only appeal to a wider range of potential buyers but also enable them to visualize and plan out their future in the home or particular area.”

Seeing red and using the color red are two different things entirely, says Zap. “The Fixr report puts the color red in its crosshairs. In a poll of 71 interior designers, 59% agreed that red is a turnoff to homebuyers. Red is an extremely strong color and may not be to everybody’s taste,” the report notes.

Another thumbs down goes to lime green, which Fixr calls a “garish color [that] impacts greatly on a space can be overwhelming for a potential buyer who is looking around a home.”

Strong colors in a home could set off a negative reaction from a prospective homebuyer right away. Bright yellow (40%) and mustard yellow (19%) turned up as no-gos in the report. 10% say to stay away from pink, turquoise (9%), and black (4%).

Staging is important for helping buyers overcome objections by creating neutral, move-in ready spaces so that they can envision their lifestyle and furnishings in the home, making it easier to visually move in and make an offer, Zap found.

Realtor, TBWS

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