Stern Market Minute: Staging Your Home In 2023
Channel: The Stern Team | KW Salt Lake City Real Estate
Date: 2023-03-16

Selling your home can be a stressful experience, but staging it properly can make all the difference. A well-staged home can increase its perceived value, attract more potential buyers, and ultimately result in a quicker sale. In this guide, we'll focus on one of the most important aspects of staging: painting. We'll cover what to consider when painting the exterior and interior of your home, as well as the return on investment (ROI) for your efforts.

ROI: Good news that the ROI on paint, both exterior and interior, is above 100%

Before embarking on any home renovation project, it's important to consider the return on investment (ROI). Fortunately, the ROI for painting is typically excellent. In fact, according to HomeLight, a new coat of paint on the exterior of your home can yield an ROI of over 100%, while painting the interior of your home can result in an ROI of nearly 107%. This also means that you will not only attract more potential buyers with a fresh coat of paint, but you may also be able to sell your home for a higher price.

Reason to paint exterior:

If you're considering painting the exterior of your home, there are several reasons why it may be necessary. One of the main reasons is that the current paint is faded or worn, making your house look outdated and unkempt. Additionally, flaking and peeling paint can signal to potential buyers that your home has not been adequately maintained. Other reasons to consider painting your home's exterior include cracks, gaps, wood rot, water damage, mold, and mildew.

Reason to paint INTERIOR:

Painting the interior of your home can be just as important as painting the exterior. If your current paint is faded, discolored, or simply outdated, it can make your home feel less inviting to potential buyers. However, a fresh coat of paint with a neutral color palette can help create a blank canvas that will appeal to a wider range of buyers. Additionally, peeling, chipping, or otherwise damaged paint can signal to buyers that your home has not been well-maintained and may require additional work.

How to choose the right colors for your home

When it comes to choosing the right colors for your home, it's essential to keep in mind the potential buyers. While you may love a bold color, it may not be everyone's taste. Instead, opt for a neutral color palette that will appeal to a broader range of buyers. Whites, grays, and beiges are all popular choices for home staging, but don't be afraid to incorporate pops of color in small doses, such as accent walls or colorful accessories.

DIY or hire a professional?

While DIY painting may seem like a cost-effective option, it's important to consider your experience and ability before taking on the task. A poorly executed paint job can be just as detrimental to your home's sale as not painting at all. Additionally, a professional painter will have the experience and tools necessary to ensure a high-quality job. If you decide to hire a professional, be sure to ask for references, check their credentials, and obtain multiple quotes to ensure you're getting the best value for your money.

Staging your home by painting both the interior and exterior can make a substantial difference in attracting potential buyers and potentially increasing your home's sale price. While there are many factors to consider when choosing to paint your home, it's an investment worth making. By painting your home regularly, you can make sure it is always up to date with the latest trends and looking its best, which in turn can help you get the best return on your investment.

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