When preparing a home to be listed for sale or rent, extreme care should be taken to make sure the property is in “show” ready condition. Not only does that mean getting rid of clutter or discarded items the previous tenants have left behind, but it also means freshening up by doing some landscaping or painting inside the house.
New paint is a low cost but extremely effective way to transform a property into looking like new, and give it curb appeal. The normal wear and tear of living in a property means there may be scuff marks, scratches, handprints, etc. on the walls that can be easily covered up with a new coat of paint.
What many don’t realize is that the color scheme also has an impact on the overall feel of the home. It is a good idea to avoid clashing or extremely loud colors as that tends to put people off. Neutrals such as grey and beige are typically favored by home builders and rehabbers (also known as house flippers), since these colors tend to be agreeable to a large pool of buyers. Along the same lines, dark colors should be used sparingly – more as an accent for contrast rather than the main color.
When selecting colors, it’s also important to note the amount of light that each room gets. Study which direction the rooms face so you know what time of day the room gets the most amount of light. For the rooms that get a lot of light, you may be able to get away with using a darker color versus a room that gets hardly any light at all.
Paint colors have such an impact on mood that there exists an entire school of thought around color psychology; one of the first pioneers of which was Carl Jung. Many corporations have caught on and use a certain color in their branding and marketing — Target’s all-red logo, for instance. Color can have a huge effect on people’s perception, and understanding how each color is perceived is key to being able to market your property in the best light possible.
In 2018 FI by REI was created with the purpose of helping individuals that want a better life. We share articles on personal finance, house hacking & real estate investing, and more.