Date:May 08, 2019
If you’re planning on selling your home this year, you’ve probably given some thought to making some upgrades prior to listing. That’s smart! Projects like kitchen and bathroom remodels typically have a high return-on-investment and make your home more attractive to buyers. But here’s a home upgrade you might not have thought about: exterior paint!
As it turns out, not only does getting your home painted add to its value, but it also gives your curb appeal a major lift. In this article, we’ll explore why new paint adds so much value, and run through some of the ways to get the most bang-for-your-buck when you have the exterior of your home painted.
Nothing impacts curb appeal like fresh exterior paint
In the most literal sense, the “curb appeal” of your home refers to the reaction potential buyers have when they first see it from the street. Of course, thanks to online listings, very few buyers are seeing your home for the first time when they arrive to tour it. But, the principle of curb appeal still holds weight in the digital world. As a potential buyer scrolls through dozens of listings on their phone, you want your property to immediately grab their attention.
Something else to consider: you never get a second chance to make a first impression. An aging faded coat of exterior paint sends buyers negative signals about your home right off the bat. You don’t want something as simple as paint to influence how potential buyers touring your home feel about the property.
An upgrade that will stick
One of the factors homeowners have to consider when they upgrade any part of their home is whether or not the buyer will like the style, color, or materials they’ve chosen. Putting new countertops and cabinets into the kitchen is a smart upgrade, but what if some buyers don’t care for white quartz with charcoal cabinets?
Exterior painting doesn’t really have that problem. Select a color that matches the rest of the neighborhood or—if you’re part of an HOA—conforms to the rules of the association. Even if you’re not a part of an HOA, this isn’t the time to flex your creative freedom. You want your home to fit in with the aesthetics of the neighborhood, not stand out.
One less thing to worry about
By the time a homebuyer closes on a house, they already have a to-do list generated from the home inspection they paid for earlier on in the process. No home is perfect. From repairing roof shingles to replacing the guest bathroom toilet, the buyer has a lot to think about. By removing the need for exterior painting from that list, you’re making their transition so much easier. That alone can make your home much more likely to get offers, especially from buyers looking for a low-maintenance, move-in-ready property.
Boost your home’s value
According to data from the real estate company Opendoor, exterior painting on average yields a $2,176 increase in value. In this market, that’s a major lift in value on par with many other home upgrades that can be more expensive.
Most homes need their exterior painted every few years. The exact breakdown depends on the type of material the home is made of, ranging from wood siding (3-7 years) to stucco (6 years). When you have a professional painting company work on your home, you’re essentially entering a window of time in which your home has a boosted value on the market. This is beneficial for a number of reasons. Obviously, if you’re looking to sell your home, you can list it at a higher price and attract more buyers leading to more potential offers. But, even if you’re not sure about selling your home, you can use your rising home value to build equity in the property. This opens up a number of options to homeowners, ranging from getting out from under private mortgage interest to home equity loans.
Enjoy coming home, every day
It should also be noted that new exterior paint is something homeowners can enjoy, too. Even if you aren’t actively planning on listing your home, new paint can help you feel good about your house. After all, what’s better than coming home after a long day to a beautiful home?
Get started by hiring the professionals
Of course, you’ll only see the value-added benefits of exterior home painting if the project is done the right way, by the right people, with the right paint. We recommend talking to a local painting company. There are several reasons you should hire professional painters, but here are two that could have a direct impact on your plans to sell your home: quality and timeline. A professional painting company is going to leave your house looking fantastic—not always a guarantee at the conclusion of a DIY project. Experienced painters will also be able to complete your home on deadline, which is important if you’re planning on listing by a certain date.