Does house colour affect your sale price?
We’re all aware of the impact that various “Reality TV programs” have had on people’s perceptions of home renovations, and their effect on property sales results. Obviously, repainting the exterior of your house is a popular part of this process. But have you ever wondered about the impact that your chosen house colour can have on the price you achieve when you sell?
This topic came to the surface this week when we came across the results of a study from one of the property blogs that investigated the topic of house colour and which colours have the broadest appeal with home buyers.
If you’re hoping that hot pink or lime green will lift your property value, we’ve got bad news for you. It seems that grey is the colour that delivers the highest price in most of Melbourne’s inner suburbs. However, it seems that this does vary from suburb to suburb.
The report found that in Toorak, dark grey delivers the highest prices, while in St Kilda a touch more blue in your grey is popular. Carlton prefers a lighter bluish-grey, whilst in South Yarra a silvery grey, (matching people’s hair perhaps?) brings better results.
It’s not all about the greys, though. This study did find that a green ‘sea mist’ worked well in Brunswick, whereas in Richmond a pinker tone in the grey was also effective.
It’s worth remembering that everyone’s tastes are different, so no matter what colour you choose to paint your house the chances are you’ll have some fans and some detractors. But the simple rule when selling is that you want to have the broadest appeal possible, which is where the grey tonings come in apparently.
It’s also important to keep in mind that fashions change, so whilst grey may be ‘the new black’ in home colours this year, it could all change in 2019 or 2020, so it’s best to leave this type of job until you’re close to selling time.
Of course, if you are considering selling, and you want to be sure that your property is presented in its most favourable way for the majority of buyers, it pays the get some advice from someone who is chatting with those buyers every day of the week. So if you’d like some obligation-free advice on how to maximise your property sale price, feel free to give us a call at Barry Plant Preston.