As a homeowner planning to sell in the near future, you will often get the advice to have your home professionally painted before you list the property. However, you won’t get the advice as to which colors you should use for your home. It is important that you know which colors to choose as they will have an impact on how fast your home will sell.
Zillow, a popular online database company for real estate, analyzed more than 30,000 images from residential properties that have been marked sold. The analysis was to find out which specific colors that will either hurt or help the selling price of a home.
Zillow’s analysis took into account a home’s age, square footage, as well as the location and the transaction date. The company also compared the sale prices of properties with white walls and those that have more colorful paint.
It turns out that color has a huge impact on buyers. As a matter of fact, it serves as a tool powerful enough that it can attract prospective bidders. This is according to the chief economist of Zillow, Svenja Gudell.
Still, trends change over time. This is why it will be worth your while if you consider the specific tints and hues that are currently favorable. Last year, the most popular choice when it came to kitchens was yellow. In the 2017 survey of Zillow, another shade has taken over.
In a statement, Gudrell said that desirable colors help prospective buyers in envisioning themselves owning and having a life within the space up for sale. Zillow also warned that there are colors that will put off buyers, especially with darker tones.
Below are the findings of Zillow on which colors to choose and which ones to avoid.
Blue, specifically anywhere between the tones of light blue and soft gray-blue: on average, sold for $1,809 more
Yellow, specifically straw yellow and marigold: on average, sold for $820 less
Purple or blue, along the hues of periwinkle and light powder blue: on average, sold for $5,440 more
White, eggshell white, off-white or no color: on average, sold for $4,035 less
Blue, light cerulean, and cadet blue: on average, sold for $1,856 more
Pink, light pink, and antique rose (especially in kids rooms): on average, sold for $208 less
Blue, slate blue, navy blue, and pale gray blue: on average, sold for $1,926 more
Red, copper red, brick red, and terracotta: on average, sold for $2,031 less
Brown, oatmeal, pale taupe, and light beige: on average, sold for $1,809 more
Blue, pale silver, periwinkle, light blue, and pastel gray: on average, sold for $820 less
Gray, brown, or greige (mix of beige and gray): on average, sold for $1,526 more
Brown, stucco, taupe, and medium brown: on average, sold for $1,970 less
Grey, blue, charcoal, dark gray, and navy blue: on average, sold for $1,514 more
We already know that the US has an obsession with anything that comes in the color blue. This phenomenon, as surprising as it may sound, translates to properties as well!