Trendy bathroom tile, exposed kitchen shelving, or state-of-the-art appliances­ — when it comes to buying and selling, home improvement projects help to seal the deal? 

Before you spend too much time (or money) upgrading parts of your home that will never pay you back, the Paint Denver team took a closer look at what nearly 1,000 recent homebuyers had to say about their most-wanted features. Our study explored what homebuyers desire most, what strikes them most about a home while shopping, and the features that lead buyers to up their offer.

The ROI of Fresh Paint

According to our findings, buyers are very likely to haggle on the selling price if your paint is in bad shape. 84 percent will expect a discount if the interior paint is peeling and a whopping 89 percent will haggle over exterior paint.

Additionally, over 49 percent of people are going to request a 1–5 percent discount, and 35 percent will go for a 6–10 percent reduction on the home price over your peeling paint. 4% are going to call for a 21+ percent decrease on asking price.

paint denver home improvement study

The Impact of Paint When Selling

Every homebuyer has experienced the same phenomenon. You enter a space, take in the structure, and look at the price tag, but the real selling point is how the home makes you feel. This process of trying to imagine yourself in a home can actually be stronger than the pros and cons themselves. So, how does something as simple as a coat of paint influence a buyer’s ability to let a home into their heart?

The answer is quite a lot. 85 percent of respondents said that their impression of a home is altered by ugly or outdated paint with only 14.9 percent saying they’re able to look past the elephant in the room. Nearly 73 percent of respondents said something as simple as bad paint would make it hard to imagine their life in a home. Home improvement is essential to ensure you’re making the most on your sale.

Home Improvement Before Selling a Home

Buyers care about the state of the home they’re buying. Most actually admit to shopping for a move-in ready home when searching the market. This means that, when it comes to imagining living in a home, factors like fresh paint really make an impression on someone looking to make one of the biggest financial decisions of their life. If you’d like to get your home in selling shape and make the most on your sale, get in touch with the Paint Denver team today. To read more about our findings in our recent home improvement study, follow the link here.