Painting the walls a light color may increase the home's appraisal value.
A survey conducted by HomeGain in 2007 revealed that painting the interior and exterior of a home before placing it on the market can increase the sales price. The value increases even more if the home is lightened and brightened in the process.While an appraiser is more concerned about the condition of the walls than their color, the color may affect the appraiser's perceived value of the home.
Size Perception
The color of an object can affect the way you perceive the size of that object. A room painted in dark colors, for example, can feel smaller than a room painted in light colors. While you might enjoy the coziness of a room with dark blue walls and dim lighting, a home buyer is looking to get the most house for his money and generally prefers the spacious look of light-colored walls. The same is true of the house's exterior color.
Condition
The condition of wall paint can affect an appraiser's evaluation of a home. Peeling or chipped paint indicates lack of care for the home. If the paint is a bold color, peeling and chipping will be even more noticeable. If you attempt to repair and touch up the damaged paint, it may be difficult to exactly match the original color. It may be easier to hide touch-up jobs on light-colored walls. However, if a wall needs repair, the best solution is to fix and repaint the entire wall in a neutral color.
Decor
A buyer tries to envision what a home will look like with his own furnishings and decor. If a room is painted crimson red, it may be difficult for the buyer to imagine decorate the room, particularly if his past color theme was a different color. A neutral color, such as tan, allows a buyer to develop his own decorating scheme. The buyer may later choose to repaint a wall in a different color, but it will be a color of his own selection.
Theme Rooms
Homeowners might paint decorations on the walls of their children's bedrooms, create a checkered wall border in the bathroom or paint a family room with the colors of their favorite sports team. While these decorating ideas are meaningful to the homeowner, they may not appeal to a buyer. Sellers shouldn't take this personally. Selling a home is a financial transaction and you may see a better appraisal if you apply a few coats of a neutral-colored paint to the walls before the appraiser arrives.
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