While we’ve been staying in place this month, we’ve spoken to many considering selling their home in this new market.
Our most asked question- What home projects can I do now, that will lead to a higher return on investment? $400 is the potential return of every $100 you invest in renovating a home, so it’s a great question to consider.
Our first suggestion is always painting! NAR 2019 states that a simple new coat for the interior of your home results in a 107% on the return on investment (ROI), and painting the exterior leads to a 55% ROI.
If you’re thinking about investing in your home’s value during stay in place, we’ve put together some of our favorite tips below.
Black or charcoal gray sell for an average of $6,271 more than expected.
FOLLOW THE 60-30-10 PERCENTAGE RULE.
60 percent is the body of the home, 30 percent is the garage doors and trim. The final 10 percent is the front and shutters, with just a pop of color. Pro Tip: no more than three colors
WARM, NEUTRAL COLORS ARE BEST OVERALL.
These colors make it easier for potential buyers to imagine themselves living there. Beiges, tans, golds, grays and “greige”—a blend of gray and beige are great choices. Neutrals can add $2,000 to the home’s sale.
PAINTING SUGGESTIONS BY ROOM. While neutral colors are always a safe choice, certain colors excel in specific rooms.
Kitchen: Stay away from red. Opt for colors found in nature. Grays and mild blues in the kitchen increase the home’s value by $1,809 according to Zillow.
Bathroom:Blue bathrooms increase home values by $5,440. Light periwinkle increases the value by $2,786. Meanwhile, homes with a soft cerulean color have been proven to boost home value.
If you’re looking to sell your home in Nashville and interested in learning about our concierge services we offer, such as painting or staging your home, please send an email to cassie.newman@compass.com!
