A group of real estate experts has revealed the paint colors that could cause your home to plummet in value—warning prospective sellers about the power of a first impression when it comes to offloading a property.
There’s nothing like a fresh coat of paint to give new life to an old (or not-so old) home. A new color palette can transform a place from blah to beautiful, and it’s especially effective as a quick tool when preparing a home to sell.
But beware! Choosing the wrong paint colors can also have the opposite effect and turn off buyers.
It’s enough to cause a lot of confusion; but if home value is the goal, then there is an array of hues you should steer clear of completely.
A recent paint color report on the website Fixr highlights the 2024 paint color trends—and now listing agents are chiming in to share their opinions on this divisive topic.
The value of painting a house, inside and out
First, when looking for cost-effective ways to give your pad a makeover, paint is the easiest way to quickly update your home with a brand-new look. But what about cost?
Expenses can vary widely, but an exterior job that boosts curb appeal will set you back as much as $6,000, or as little as $1,000.
Factors that determine the cost include the paint quality, home size, and number of stories, which may require scaffolding to finish the job.
Inside is a different (and cheaper) story. Depending on the size of the space, homeowners often opt to paint walls themselves, which saves some money on labor. Expect to pay for equipment (brushes, tape, rollers, a ladder), which can cost a few hundred dollars, along with the gallons of paint.
How much paint you need depends on the square footage. When you calculate, be sure to err on the side of buying more paint rather than less, in case you need extra for touchups later.
According to Realtor.com®, an interior paint job costs about $3.50 per square foot, or about $2,000 on average. This includes a coat of primer along with the cans of color you select on top.
Put it in neutral
As for choosing exterior colors, amazingly, some homeowners have gone bold over the past couple of years.
While many stick with neutrals and classic white, the popularity of “Fixer Upper” star Joanna Gaines‘ bold choices have inspired homeowners to veer from the traditional and take a dip into modern hues like coastal teal or deep charcoal.
However, first impressions are key for buyers who want a neutral, blank canvas where they can imagine themselves living.
“Bold paint colors—like eye-popping yellows or moody charcoals—might seem daring, but they can sink your home’s value if not executed flawlessly by a designer (and even then, it could still be risky),” says Jenny Lenz, managing director of Dolly Lenz Real Estate. “In today’s market, buyers often swipe past homes with polarizing colors before they even set foot inside.”
She adds that sticking to “timeless neutrals” is a better bet to appeal to the “widest audience and set the stage for a faster, more profitable sale.”
When considering exterior paint shades, take a look at the homes on your block.
“When it comes to the exterior of homes, I always say, don’t be the outlier in the neighborhood,” says listing agent Jonathan Yarton, with the Yarton Group. “Too often, I see a gorgeous neighborhood of homes interrupted by one resident that decided neon blue was the correct choice for their home.
“Personal taste is something I always celebrate, but when you’re talking about resale, remember that your choice may not be the taste of the masses.”
Indeed, real estate agents agree neutral tones can help position a home for a successful sale.
“Ever since I entered the industry, white has consistently proven to be the most impactful color for properties in terms of sales, alongside neutral tones,” says Santiago Arana, with The Agency. “These hues not only appeal to a wider range of potential buyers but also enable them to visualize and plan out their future in the home or particular area.”
Stay away!
The Fixr report puts the color red in its crosshairs. In a poll of 71 interior designers, 59% agreed that red is a turnoff to homebuyers.
“Red is an extremely strong color and may not be to everybody’s taste,” the report notes.
A majority of designers polled—53%, to be precise—also give a thumbs down on lime green, which Fixr calls a “garish color [that] impacts greatly on a space can be overwhelming for a potential buyer who is looking around a home.”
A strong color in a home could set off a negative reaction from a prospective homebuyer right away.
“I think that most homes sell when there’s not anything negative as you walk in. A yellow wall or a red wall can be a turn off,” says Brent Watson, Watson Salari Group from the Beverly Hills Estates.
Indeed, bright yellow (40%) and mustard yellow (19%) turned up as no-gos in the report. And our fling with Barbie seems to be over, at least when it comes to home color: 10% say to stay away from pink, turquoise (9%), and black (4%).
How to stop ‘price eroding’
It’s important to take into account the buyer before putting your home on the market. Staging is one way to maximize value.
“Buyers do something that I call ‘price eroding,’” says Karen Otto, chief staging officer at Home Star Staging, a professional home-staging service. “It’s the ticking off of thousands of dollars it will take to make a home suitable for them and will generally overinflate those costs and time it will take to get it how they want.”
What works for one homeowner can impede value when it comes to finding a buyer.
“While bold colors like deep reds, greens, or bright oranges can be attractive to certain homeowners, they can decrease a home’s value by making it harder for potential buyers to picture themselves in the space,” explains Mike Fabbri, at The Agency New York. “These shades often require repainting, which many buyers see as an added expense and time commitment, impacting their offer price.”
The solution: neutral spaces and colors.
“Helping them overcome objections by creating neutral, move-in ready spaces will help most home buyers envision their lifestyle and furnishings in the home, making it easier to visually move in and make an offer,” Fabbri notes.
Cara Ameer, an agent in California and Florida, agrees that paint color is a key component in home sales.
“Paint colors that are drab or cold often contribute to a lower selling price on a home, as they are part of the property’s overall curb appeal,” she says. “Buyers are attracted to warm and inviting colors that are clean-lined, attractive, and timeless like whites, creams, and lighter beiges that transition well with a variety of styles.”