With summer officially upon us and the housing market heating up, many baby boomer homeowners are expected to downsize their homes this summer and take advantage of the impressive housing market. CNBC reported that in April of 2018, home prices nationwide jumped 6.9 percent over the previous year. Despite being such a great seller’s market, if you are planning on listing your home and making some cosmetic improvements, be sure to pay close attention to your paint choices.
Home design trends are constantly changing and evolving. Because of this, what may have been recommended to improve your home value 2 years ago, could now be considered out of date and could actually hurt your home value. Before picking up a paint brush, consider the following points.
Consider the room
As you are preparing to list your home for sale and want to make some cosmetic improvements, take time to consider each room and plan out your paint choices with consideration. Current trends favor blue with white accent color combinations. In a home analysis performed by Zillow of over 32,000 homes, the data found that homes painted with light shades of powder blue and periwinkle, correlated to an increase in home value of $5,440, on average.
Adapt to current trends
Understand that like fashion, home design trends are always changing. Just because you recently painted several rooms in your home does not mean you should not reevaluate the latest color trends before listing your house. Because painting is one of the cheapest updates and when done correctly, can have the greatest return on your investment, you want make sure the colors of your rooms align with the most up-to-date styles.
Painting the exterior siding of your home can be very costly and may not always have enough of a return to deem it necessary. This does not mean you should not consider some small exterior paint projects. Many experts recommend starting with your front door and giving it a pop of color that compliments the rest of the house. Continuing on with the exterior, make sure that any wood decks or fences have a recent coat or paint or have been stained.
If you are struggling to determine what color scheme to go with, tap into the advice from your real estate agent. Most agents will be aware of best practices and want potential buyers are looking for. If you still want more ideas, Pinterest is a great resources to turn to for inspiration and ideas.