​What are the Effects of Painting on Resale Value of Homes in Winnipeg?

It is no secret that a cleaner, newer-looking home will sell for a higher price than a beat-up old house. One of the biggest factors that affect home value is paint. Bad paint makes a house look old despite its real age; choosing an experienced painter and a high-quality paint can make all the difference in the world. The effects of painting on resale value of homes in Winnipeg can be significant as Winnipeg Real Estate News reports. ​

Best Interior Paint Colors for Selling a House:

According to a study by Zillow, a real estate website, there are interior colors for various parts of the home that boost resale value. Zillow analyzed photos of 50,000 resold homes throughout the U.S to see how room colors correlated with the homes' selling prices. What it found is nothing short of astounding. Some colors could increase result to a premium of $5000 on their home resale while other colors can decrease the home’s selling price. ​

So What Are the Best Interior Paint Colors for Selling a House?

Kitchen:

Zillow found that houses with yellow kitchens sold for about a premium of $1300 increase. Homes with white kitchens sold for much lower than their estimated value. 

Living-room:

The study also showed that many buyers prefer neutral-colored living rooms. Homes with dove color or light-grey living rooms sold for a premium of $1104. Homes with orange and terracotta living rooms sold for significantly less than other homes. ​

Bathroom:

Zillow also found that homes with beige or oatmeal-colored bathroom walls sold for much higher than the estimated value.

Bedroom:

Bedroom color is best dictated by personal taste, but the study found that bedrooms painted with light green to khaki sold for about $1332 higher than the original price. These colors are soothing and not overstimulating, which allows people to rest better. ​

Dining-room:

Homes with purple, lavender, or mauve dining room sold for $1122 higher than other homes. Gray-painted dining rooms, on the other hand, sold for $1112 less than other houses. 

These results are not all-encompassing; some homes that do not follow these recommended colors also sell for a higher price. However, these are cheap tweaks you can do to increase your chances of getting a premium. ​

Paint as One of the Huge Factors That Affect Home Value:

It is a good idea to use well-loved colors that large masses love to increase the chances of selling your home faster. If you use quirky colors that few people like, you might have a narrower market to work with. Also, make sure that you check out our guide on how to choose the best paint for the exterior of your home considering various factors such as the surroundings, the house style, size, and others. 

Paint affects a house’ entire ambiance and can improve or worsen a person’s living experiences. Home re-sellers can use Zillow’s data in deciding which colors to choose when prepping up their homes to resell. Consider other effects of painting on resale value of homes in Winnipeg as well to further increase the value of your home.