How painting your home can boost its value
Every homeowner wants to get the most out of their home when they eventually sell. To boost their home’s value—and become more competitive with other homes on the local market—many homeowners are upgrading their kitchens, master bathrooms, and backyards. Yet, many overlook a project with a relatively high return-on-investment (ROI): repainting their home. In this article, we’ll review how painting your home can boost its value and curb appeal ahead of listing.
Should you hire a professional?
This is a common question many homeowners have, but the truth is that the answer can depend on where your home is located, what your timeline is, and how big your budget is. For example, due to the prep work and repair involved, the painting of homes with a stucco exterior best left to a professional house painter in Phoenix. However, most homeowners, provided you have the time, can handle painting the inside of their own home.
Both interior and exterior house painting are upgrade projects with a high ROI. This means that homeowners generally get most, if not all, of the money invested in the project back when they sell their home. Due to the low overhead involved—if you’re painting your own home, you just need to pay for the paint and rollers—interior painting generally has an ROI of about 107%. That means you not only get your money back, but you’ll generally make money by painting your home. Talk about a no-brainer prior to listing!
While exterior painting has a lower average ROI (55%) due to the higher upfront costs involved, it’s still well-worth the investment due to the positive impact the project has on your aforementioned curb appeal. A freshly painted home may be the subtle difference-maker between your buyer deciding to come look at your place or swiping left in their real estate app.
Improve the curb appeal of your home
Today, “curb appeal” applies to much more than just the initial impression prospective homebuyers get of your home from the street. Most buyers will first see your home in an online listing, where they’ll have access to multiple high-resolution photos of the inside and outside. In other words, there’s no hiding the defects or wear-and-tear. To make the right first impression, you need to repaint both the interior and exterior of your home prior to listing.
After all, great-looking paint is more than just a formality. It sends a strong, subliminal message that the property has been well-cared for, is worth the asking price, and fits within the aesthetic of the surrounding neighborhood and community. If it’s been a few years since you had the outside of your home painted—or your inside walls are starting to look faded or dirty—it’s time to get to work.
Here’s what else you should know
By this point, you’re hopefully onboard with the idea of painting the interior and exterior of your home prior to sale. After all, the results are worth it for your home’s value. If you’re ready to get started, be sure to check out this new infographic. It includes a breakdown of your best color options, how to deal with your HOA, and why the quality of your paint matters.