Painting your house before putting it on the real estate market has many benefits. It can make your home feel new and fresh, attract buyers and make it more competitive on the market. Still, hiring painting contractors to paint your home’s interior or exterior will be costly. You should consider your specific case, and with the help of your real estate agent, determine if a paint job is a smart option for you.
Let’s look at the pros and cons of this home improvement project. The reasons to paint your house and some reasons why you could get away without.
Benefits of painting to sell your home
If your home hasn’t been painted in years, a fresh coat of paint can do wonders. It can make things light, bright and like-new again. Covering years of blemishes, dings, dents and stains - a fresh coat of paint can help you make a better first impressions on buyers. This is important in the photos on your online real estate listing and when buyers come to view the home.
A paint job is the easiest and most affordable thing you can do to completely change the look of your home’s exterior or interior. A home with a shabby exterior and peeling paint will not fair well when it comes to first impressions. Also, if a buyer walks in and sees dated wall color or walls that are stained or scratched, they will not like the prospect of having to repaint upon moving in. They’ll likely choose a competing house that does not need to be painted.
Tip: stick with neutral color schemes to sell your home! Bold and vibrant colors will not appeal to the masses and you don’t want to turn off anyone. A light, neutral color will allow buyers to imagine themselves and their things in the home. Even if it’s not their favorite, most people can live with a light beige or gray for a while. Most people won’t want to buy a home that needs to be repainted immediately. Learn more about mistakes when choosing paint colors for your home.
When not to paint when selling
You should ask your real estate agent for advice specific to your home and market. In some cases, the cost of painting outweighs the return on investment. Painting can be an affordable fix if you can DIY but can get expensive if you hire a painting company to do it for you. If you can do-it-yourself, will it recoup some or all the cost at resale. Read the top ten ways you can paint like a pro.
How the market is performing is also a major factor on whether painting is worth it or not. In a buyer’s market, you might want to paint to make your home stand out. You’ll have to work hard to help it compete and a quick, painless sale can be worth the cost. On the other side, if houses are flying off the shelves, regardless of nicely painted walls or not, it might not be a worthy investment. Your realtor can help you make this decision.
You should also determine the type of buyer that would be most interested in your home. If you think it is attracting savvy buyers who want a fixer upper or a rental property, they might be less picky on whether the walls are painted or not. For advice on this, ask your real estate agent.