Let’s just say the real estate market in Toronto isn’t what it used to be, but at least it looks like the paint color of your front door can increase the value of your home.
Founded by former Microsoft executives, Zillow is a U.S.-based real estate website that recently announced it will start posting Canadian homes on the site. Earlier this year, Zillow released their 2018 Paint Colour Analysis that showed using the right paint colours in your home can boost its resale value significantly.
The analysis looked at the sale of over 135,000 homes in the Zillow database to compare how homes with certain paint colours compared to similar homes painted in white.
Paint The Front Door this Colour for a $6,000 ROI
The Zillow analysis found that homes with a black or charcoal grey front door sold for an average of $6,271 (US) more than those with white doors. Yes, the Zillow colour analysis is based on homes in the U.S., but we’re all susceptible to the influences of paint colour.
Even if you reduce the average increase in value by 50%, it means for a paint project that you can do for less than $100, you could get a boost of $3,000 in the sale of your house. That’s a 1,000% return!
Choose the Right Paint Colours for Other Rooms in your home to Add Even More Value
The Zillow analysis also found that ‘tuxedo’ kitchen paint schemes, those where the overhead and under-counter cabinets are painted two contrasting colours, added an average of $1,547 (US) to resale values. And homes with neutral paint colours throughout, like light blue and taupe, also sold for more than their white-walled counterparts.
For more advice on choosing the right paint colour for your front door, or any other part of your home, call or visit your nearest The Paint People location.