Research shows that colors make a difference -- and that includes our home's resale value.
Colors can inspire us, calm us, and motivate us — often without our realizing it. “There is clearly an established physiological mechanism through which color and light can affect mood, heart rate, alertness, and impulsivity, to name but a few,” says Stephen Westland, a professor of Color Science and Technology at Leeds University.
The ways that our brains perceive light can have effects as varied as causing poor sleep quality to contributing to Seasonal Affective Disorder (a type of depression).
There isn’t yet an exact predictability to how color affects our brains; it’s largely a game of association with some colors possibly provoking universal effects, while others are more culture-specific. Still, you may be able to use the neuroscience of color to help yourself and others — especially when it comes to something like selling your home.
New studies from Zillow Research suggest that the colors you choose to paint your house can increase (or decrease) its re-sale value. But how do you know which colors will appeal most to prospective buyers?
The database company analyzed over 135,000 sold homes nationwide to see which colors affected price positively and negatively. According to their findings, the color that counts the most is the one on the front door. To be more specific, front doors painted black or charcoal gray were found to sell for $6,271 more than estimated.
Other interior changes shown to increase price include taupe living rooms, which helped houses to sell for more than $2,793 than estimated, and light blue or periwinkle bathrooms, which increased the price by $2,786.
On the negative side, red kitchens were found to sell for $2,310 less than expected. A brown dining room or a yellow exterior will also not help you as a seller.
But the good news is, if you’re preparing to sell your home soon, you might be able to increase its value for the cost-effective strategy of just a few cans of paint. Why not use the powerful effects of color to start a new chapter of your life and land the right buyers who will make your house their new home?