Spring is the prime time for kicking off long awaited home projects. Whether it’s a deep cleaning or a home remodel, a spring refresh is perfect for giving a boost to the resale value in your home if you’re planning to sell in the months ahead. But if you’re fixing things up, there are important considerations to make if your thinking about selling.
Trends in home design can have a huge effect on real estate. A certain feature or element could be just the thing buyers are looking for one year and in the next, that same feature could deter potential buyers. Even an update as minimal as a fresh coat of paint can determine your home’s success on the market.
But paint can go a long way to make a luxury home pristine to potential buyers and sell quicker. Considering the Chicago real estate market is very competitive right now, even seemingly small updates could be the key to a successful sale.
The Effect of Paint on Resale Value of Chicago Real Estate
Each season there’s a new “it” color or design scheme that homeowners are itching to incorporate into their home. It’s important to know that all popular hues don’t necessarily translate into every living space. Yellows and greens—popular colors that re-emerge in the spring months—could look fabulous in a room with plenty of spring sunshine, but covering all four walls (or more!) in an on-trend hue could be too much for a space.
Here are a few tips for picking the right paint colors, as highlighted in a recent Wall St. Journal article:
Consider neighboring rooms. Colors should complement, not contrast, each other from one room to the other. Imagine you were taking a birds-eye look at all of the rooms in your home—do all of the colors go together? The shades of paint don’t all need to be the same, but should flow and harmonize from wall to wall.
Work with what’s there. Unless you’re redecorating all together, choose paint colors that go with the furnishings already in your home. Think about the colors in a rug, or a statement furniture piece or a cherished piece of art work and pick shades that will blend right in.
Do a test run. You want to get a sense of what it will be like to live with a color before committing to it. Paint a patch of wall so that you can evaluate the color at all points in the day—in natural light, at dusk, in room lighting, etc. If painting part of the wall isn’t possible, a big board or canvas painting in the proposed color will do the trick. The key is to not rely on paint chips along to settle on the color of the whole room.
If you’re looking to increase resale value or speed up the sale process, fresh paint is a great first step I recommend to my clients. I also urge them to stick to a neutral palette rather than bold or varied shades that might make it difficult for buyers to envision themselves living in.
For more tips on readying your home for a spring or summer sale, contact me at (312) 498-5080 or email me at [email protected]