Thread: Repainting Effects on Resale Value

This is a good thread. I would like to know the answer to this question myself. Realtor Magazine puts out a article once a year showing the return on certain remodeling projects like kitchens, baths etc, but I've never seen anything specific for your basic painting. If nothing else, it will make the home easier to sell.

Originally Posted by DenverBroker

How much will repainting the interior and exterior of a house add to resale value?

Well, it all depends on what the condition of the paint is currently. If the house is in good state of repair, then touching up the areas that are in need is all that is necessary. If you rub your hand down the house exterior and your hand turns the color of the house (the binder of the paint is gone, and you are rubbing off the pigment,) well repainting the exterior will increase the value (within reason.)

If the house was painted an obnoxious color, I have seen royal purple houses with pink shutters, when others are light colors (tans, reds, whites, etc.) Well, you can imagine how much that house stuck out. So, if it is not fitting the neighborhood, repainting it will increase the value.

Remember, that people want to move in, and not do anything. If painting will allow that, then your house will be more valuable. If the house has odd colors, you could imaging what value it can bring. FMV = what a willing buyer will buy it for and what a willing seller will sell it for. Simple as that. You could paint it like the Taj Mahal, but unless there is a demand, you will not sell it for what you feel it's worth. On the same hand, if it is not pleasing to the eye (curb appeal) and the interior is not appealing, then again, you will have a hard time finding a buyer that will pay you what you want.

This is what you should do to really answer the question. Have 3 - 5 women (not being sexist,) walk through the house, and view the outside, have them tell you what they think, and what they would change. Take what they say under advisement, and if it make sense (and you can justify the costs) do them.

I can walk into a house, and see Nothing wrong, my wife walks in, and out comes the list. People buy on emotion, and justify the purchase with logic. Simple as that. Investors buy on logic and spruce it up to appeal to the emotions.

Later!

While it may not add to the resale value, it does give you the biggest bang for the buck when it comes to getting a home ready for the market.

People expect the paint to NOT be chipped or peeling. Therefore good paint does not add to the value while chipped/peeling paint will subtract from the value. Unusual colors will hurt the appeal to some. Many buyers do not want to do anything except unpack after buying a new home.

In my book - repainting is the least expensive "fix up" a seller can do.
makes the house smell and look new and both of those appeal to ALL buyers.

Thanks all for the excellent and helpful responses. I tried the rub test, and I think the binder is pretty much gone. The paint job is as old as the house, about 11 years.

Originally Posted by REITrainingWhse

Well, it all depends on what the condition of the paint is currently. If the house is in good state of repair, then touching up the areas that are in need is all that is necessary. If you rub your hand down the house exterior and your hand turns the color of the house (the binder of the paint is gone, and you are rubbing off the pigment,) well repainting the exterior will increase the value (within reason.)

If the house was painted an obnoxious color, I have seen royal purple houses with pink shutters, when others are light colors (tans, reds, whites, etc.) Well, you can imagine how much that house stuck out. So, if it is not fitting the neighborhood, repainting it will increase the value.

Remember, that people want to move in, and not do anything. If painting will allow that, then your house will be more valuable. If the house has odd colors, you could imaging what value it can bring. FMV = what a willing buyer will buy it for and what a willing seller will sell it for. Simple as that. You could paint it like the Taj Mahal, but unless there is a demand, you will not sell it for what you feel it's worth. On the same hand, if it is not pleasing to the eye (curb appeal) and the interior is not appealing, then again, you will have a hard time finding a buyer that will pay you what you want.

This is what you should do to really answer the question. Have 3 - 5 women (not being sexist,) walk through the house, and view the outside, have them tell you what they think, and what they would change. Take what they say under advisement, and if it make sense (and you can justify the costs) do them.

I can walk into a house, and see Nothing wrong, my wife walks in, and out comes the list. People buy on emotion, and justify the purchase with logic. Simple as that. Investors buy on logic and spruce it up to appeal to the emotions.

Later!

Yes, it all comes to logic, a good paint might not add value to the house , but a paint that is peeling off, definitely will erode the value,
you might not have the money to do it, but what buyer sees is -


"""Maybe this house is not worth keeping, so he has not even maintained it at all. maybe i can get him to lower the price a bit""""


a very well maintained house looks inviting

choice is yours, after all you are the one whose selling.

More than 90% will get repainted, as said in above comments it been least expensive and can give good returns in resell time.

I have used this strategies many times. You go ahead with your planning, it will deliver you good return. You can expect at least 15% up of the present bids. A lot depends upon marketing trick also.

Repainting the interior and exterior of the house is one of the necessary improvements one should make to add value to the property. However, don't overdo it to avoid selling it at a higher price so you won't have difficulty in selling it. I look at the house through clients' eyes, if I don't think the house needs repainting, I don't do it. I look for other ways to maximize the functionality of the house.