What’s The ROI of Painting Before Selling? 

Spring is one of the most popular times of the year to put a house on the real estate market. Zillow, the online real estate hub, claims that late spring, May specifically, was once considered the best time to list a home. In the past couple of years that changed to March however, due to the worldwide pandemic when all rules were thrown out the window. 

In general, May and the spring months are still considered the perfect time to list a home for sale as families will be able to find suitable housing before the next school year begins, and much of the workforce takes time off over the summer months making this time a bit of a hit or miss. 

If you are considering selling your home over the next few months, you may be wondering what improvements may pay off in terms of resale and value to your bottom line when the bids come rolling in. 

Should you invest in home siding, a landscape overhaul, new windows, or a costly new roof? In terms of the hot market right now, any improvement will help your home sell. However, some improvements are more worth your investment than others. 

Let’s take a look at the return on your investment for painting your home prior to putting it on the market. 

Benefits of Home Painting 

Before we look at the financials of whether a painting project is a smart idea before selling your home, let’s just review what a project of this type can do for your home before the numbers get involved. 

Painting the exterior of a home immediately increases curb appeal. The home will look fresh and new and give off the message that it is well cared for. This first impression is key to getting buyers in the door or scrolling on their real estate app to investigate your home further. 

Painting the interior rooms of a home is also beneficial. If your home looks dated or worn down, a coat of paint can breathe new life into a space in a matter of a weekend. Additionally, a new coat of neutral paint can take away the personal look of previous owners much like removing family photos off shelves can do. 

Return on Investment

While the numbers have changed a bit in the last few years due to low mortgage rates, most real estate experts would now suggest getting back to basics of making needed repairs for homes and updates to make a home look its best in listing photos. 

Just a few years ago the market was so hot and mortgage rates so low that homes were being bought “sight unseen.” This is no longer the case as mortgage rates rose during 2022. 

Home Light, a real estate technology company, reports that “painting the exterior of a home boosts home value by $7,571. and nets a 152% return on investment.” That is a great incentive to paint the exterior of your home prior to placing it on the market. 

Similarly, Home Light also reports that interior painting is also a good idea. “Repainting interior walls increases home value by an average of 5% and nets an ROI of 107%. That means a home valued at $400,000 would increase in value by $20,000.” 

The fresh new look inside your home is attractive and will have buyers crossing tasks off their list as they realize the home has already been painted! 

Should you be putting your home on the market this spring, talk to our crew about a free p estimate and how a fresh coat of paint could help your home sell. 

Categorised in: Exterior painting