One theme continuing out of 2020 and into 2021 is the Super-Hot Real Estate Market. If you’ve been contemplating selling your home and vacillating on which items you should improve to have a better experience, don’t forget about paint. Last month, we focused on the importance of pruning before spring growth and making your home more visible. You want buyers to see your home, but if you’re starting to see areas needing paint, then it only makes sense to have a home assessment.
Our experience has shown painting provides the best return on investment as any other dollar you could spend on your home. Paint sets the stage for curb appeal and also “invites” buyers to walk through rooms while touring. If a buyer doesn’t stop to focus on deferred maintenance items, then they are more likely to think about how they would live in the home and/or how much competition they might have before offering.
You’ve heard the saying that you only get one chance at a first impression. In a buyer’s mind, if a home requires paint then it gives the impression that the home has been left unattended. Sometimes, a magic eraser or simple touchup is all that’s needed. Other times, an expert painter’s touchup techniques can save thousands and it won’t look as if the areas have been touched up. You might even want to change shutter colors or a few rooms in your house too. Buyers usually take the position that an entire room (or even the whole house) must be painted if there are repeated signs of noticeable excess wear.
Yes, this is a seller’s market and there is a good chance you will receive an offer, but will it be the offer that you want to receive? The difference in an upfront investment is far outweighed by out-of-pocket expenses a buyer will estimate on the back end. Buyers tend to take greater notice in other things requiring attention once they’ve focused on paint. Before long, a simple room painting leads to “that roof cost,” and more.
Do yourself a favor and avoid larger expenses and a lower sales price after placing your home up for sale by investing in your home beforehand. Simply picking a neutral color that already works with your home’s features can create the impression of a home being more updated than it actually is. Our clients are always amazed at the before and after transformation and often make a comment like, “If we had done this sooner, we could have enjoyed it and considered staying.” Another important aspect of getting the biggest return on your investment is addressing curb appeal. Watch Tom and Julie’s video discussing this topic on Facebook @tomandjuliedouglassrealestate.