How Much Does Exterior Paint Increase Home Value?

Does Exterior Paint Improve Home Value? 

The short answer is yes. An exterior paint job that is well done can increase a home's value by 2-5%, depending on various factors like quality of paint, color choice, and the overall condition of your home. In fact, according to a survey from Homelight, the estimated return on investment (ROI) for exterior painting ranges from 51% to 55%, making it a worthwhile project for homeowners looking to boost their property's value.

How Curb Appeal Affects Home Value 

Something that often goes overlooked is the role curb appeal plays in determining a home's value. After all, as the saying goes, you don’t get a second chance at a first impression and the exterior of your home is the first thing potential buyers see. A well-maintained, modern, and cohesive exterior can attract more interest and command a higher price in the real estate market. 

Paint color choices also have a significant impact on home sales, with certain colors and color combinations proving more appealing to buyers. Surveys have shown that homes with attractive curb appeal sell for an average of 7% more than similar houses with less appealing exteriors. When it comes to exterior paint color combinations, some of the combos that appeal to buyers include:

1. White and Black - A classic combination, white walls with black accents (doors, shutters, or trim) create a crisp, clean, and elegant look that appeals to many buyers.
2. Gray and White - Gray has become increasingly popular in recent years, and when paired with white trim, it creates a modern, sophisticated appearance that works well with various architectural styles.
3. Beige and White - Beige is a warm, neutral color that pairs well with white trim, creating an inviting and timeless look that appeals to a wide range of buyers.
4. Blue and White - Light to medium blue hues with white trim can create a calming, inviting atmosphere that evokes feelings of tranquility and relaxation.
5. Sage Green and White - Sage green, a muted green with gray undertones, pairs beautifully with white trim and complements homes with ample foliage or natural surroundings.
6. Taupe and White - Taupe, a blend of brown and gray, is a versatile neutral that works well with white trim, creating a warm and inviting appearance.
7. Cream and Brown - Cream walls with brown accents (doors, shutters, or trim) create a cozy, traditional look that appeals to buyers seeking a classic aesthetic.
8. Gray and Navy - A combination of light to medium gray walls with navy blue accents can create a modern, stylish appearance that stands out without being too bold.

Other Ways Painting Your Home Exterior Can Add Value

• Improve Curb Appeal - Strategic exterior paint choices can enhance your home's curb appeal. Opting for neutral colors and cohesive color schemes can create a welcoming and attractive appearance that appeals to a wide range of potential buyers.
• Help You Sell Your Home - A freshly painted exterior can make your home stand out in a competitive real estate market, attracting more potential buyers and increasing the likelihood of a quicker sale. A well-maintained exterior suggests that the inside of the home is equally well-cared for, instilling confidence in prospective buyers.
• Provide Protection - Exterior paint acts as a protective barrier against the elements, shielding your home from moisture, sun damage, and other environmental factors. Regular painting can prolong the life of your home's exterior materials, saving you money on costly repairs in the long run.
• Identify Needed Repairs - The process of preparing your home for exterior painting can uncover underlying issues, such as rot, insect damage, or water infiltration. Addressing these problems before painting ensures a longer-lasting, higher-quality finish and prevents further damage to your home.

Types Of Exterior Painting That Can Increase Value 

When considering an exterior paint job, it's important to address all visible surfaces to create a cohesive and polished appearance. This includes:

• Siding
• Windows
• Trim packages
• Doors
• Foundations
• Concrete areas
• Decks
• Fences

Choosing the Right Colors 

Selecting the right paint colors will make or break your home's perceived value and appeal. Here are some 10 tips to keep in mind:

1. Avoid bright colors. They can be polarizing and may not appeal to a wide range of buyers.
2. Consider painting your front door black. This classic color choice can increase a home's value by up to $6,000 (according to a study conducted by Zillow). 
3. Steer clear of yellow exteriors. They have been shown to sell for less than expected.
4. Sage green is a popular and valuable color choice. Particularly for homes with a lot of foliage.
5. Keep your home's style in mind when selecting colors. Make sure that the palette complements the architecture.
6. Pay attention to regional preferences and trends. No one wants a home that sticks out like a sore thumb. 
7. Neutral colors like white, gray, and beige are always a safe bet. These colors often appeal to a broad range of tastes.
8. If your home is historic… consider any color restrictions or guidelines set by local preservation societies.
9. Avoid being too bold. This can limit your home's appeal to potential buyers.
10. White is a classic and timeless choice. Whether you’re a fan of it or not, white is a color that can make your home appear larger and more inviting.

When prioritizing interior painting for added value, focus on high-traffic areas like kitchens and bathrooms, as well as entryways and rooms with bold or bright colors that may not appeal to all buyers.

DIY or Hire a Pro for Exterior Painting 

When it comes to exterior painting, there is always the option to either tackle the project yourself or hire professional painters. While doing it yourself can save money and provide a sense of personal satisfaction, hiring experienced professionals can ensure a higher-quality result and can ultimately lead to a greater selling value for your home.

Professional painters have the skills, knowledge, and equipment necessary to properly prepare surfaces, select the right materials, and apply paint evenly and efficiently. Their experience and expertise can result in a better finish that lasts longer and enhances your home's value more effectively than a DIY job.

Conclusion 

Exterior painting is a simple yet powerful way to increase your home's value, both financially and aesthetically. By enhancing curb appeal, providing protection, and identifying needed repairs, a fresh coat of paint can make your home more attractive to potential buyers and command a higher price when you go to sell. 

When selecting colors and prioritizing areas to paint, keep in mind the preferences of a wide range of buyers and opt for neutral, cohesive color schemes. While DIY painting can be tempting, hiring professional painters oftentimes provides a higher-quality result that can ultimately lead to a greater return on investment.

By investing in exterior painting, homeowners can enjoy the immediate benefits of a refreshed and protected home while also setting themselves up for long-term financial gains when it comes time to sell.