Paint color you pick for your home may affect its value - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Paint color you pick for your home may affect its value

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SAN DIEGO (NEWS 8) — When it comes to selling your home, there is a lot to think about, including fixes such as a new paint job.

According to one study, the specific colors you choose can make a huge difference in the final price.

"Painting is really the first step when looking to sell a home," said Allison Shepstone with Swell Properties.

Shepstone is getting ready to put her parents' 2800-square-foot, six-bedroom Encinitas home on the market.

While it looked fine before, she's confident painting the interior will get them top dollar, in part, because if buyers see colors they don't like, they tend to offer less.

"It certainly creates a feeling of 'I need to do work to this home,' which, all of a sudden, starts dollar symbols in their head going," said Shepstone. "So, it's definitely a signal that my final buying price isn't going to be my final cost."

The difference can be in the thousands of dollars.

Real estate website Zillow analyzed 32,000 homes nationwide.

Using various online programs, News 8 was able to visualize their findings.

Here's what the study came up with:

  • Soft blue-gray in the kitchen will net you $1,809 more while straw yellow or marigold decreases the home value by $820.
  • In the bedroom, go for a cadet blue - that will bring you $1,856 more versus light pink or antique rose, which can cost you $208.
  • For the exterior, a grey beige will add $1,526 to the selling price, where as a medium brown will bring you down $1,970.
  • And the biggest money-maker is the bathroom, where you can make $5,400 with periwinkle compared to losing more than $4,000 using off-white.

"When you're doing the interior, everybody's going into modern," said Myron Cabrera, owner of Don't Blink Painting.

He says professional paint jobs can start around $300 a room.

While that may deter some people, Cabrera says the return on investment is worth it.

"To paint your place, it's less than one percent of the value of your home, so it's actually a huge savings," said Cabrera.

Those interested can use Zillow's study as a guide.

If you're not convinced, Cabrera advises choosing neutral colors and says to consider the light inside your home.

"If you have a lot of light, you can use darker colors," he said. "If you have less light, then of course you wanna use a lighter color."

Something that could make the difference between seeing red or green.

"It's definitely worth the price both from a selling and buying perspective because it really can change a home," said Shepstone.

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