The colours in your house can alter its value
Posted 19 July 2017
New statistics show that colour can play a significant role in determining how much your home is worth on the housing market
Choosing a colour scheme is a major decision when it comes to changing up your décor, but it could have an even bigger impact than you might think. New figures from selling and renting marketplace Zillow suggest that the colours used to decorate your home could make or break its selling potential.
What does the data show?
Zillow examined over 32,000 photographs of houses sold in the past twelve months, looking to see if there was any correlation between colour and price.
The results they found reflect a change in trends compared to recent years. In 2016, results found that painting your kitchen yellow could help your home sell for over £1000 more, whereas the most recent set of figures show that a yellow kitchen could actually lower the value of your home by over £700.
In other cases, colours continued to have the same effect as past years, but with even more dramatic results. In 2016, houses with terra cotta walls in their décor sold for £616 pounds less than Zillow’s average, whilst in 2017 this figure has more than doubled to £1577 less.
How can different colours transform a room?
Various studies have shown the effect that the colours you use in your décor can have not only on your home, but on your mind too.
One study found that the colours used in your kitchen can even effect your appetite, with reds and oranges increasing your appetite and cooler shades like blue and purple supressing it. In the bedroom, light purples and blues can boost your relaxation, whilst shades of green in a study or home office can boost your concentration and help you focus.
According to Zillow’s findings, homes with bathrooms decorated with light shades of blue or periwinkle sold for over £4000 more than the average, whilst homes with light blue or grey kitchens sold for over £1400 more than expected.
The golden rule: light and subtle
With so many colours out there, choosing the right combination for your home décor can feel overwhelming. However, there is one clear rule to take away from Zillow’s research: neutral, bright and subtle shades work best.
Light and simple colour choices performed best for sellers, with shades like pale grey or oatmeal being among the highest ranking colours.
Zillow’s chief economist Svenja Gudell explained that these neutral choices were involved in highest sales. Gudell said: “Painting walls in fresh, natural-looking colours, particularly in shades of blue and pale grey, not only make a home feel larger but also are neutral enough to help future buyers envision themselves living in the space.”
But despite the fact that lighter, subtler colours performed best, houses with no colour performed worst of all according to Zillow’s findings. Homes with white bathrooms and rooms with little to no colour at all sold for an average of over £3100 less than similar homes.
When it comes to housing, outer beauty matters
When looking at Zillow’s results, it becomes clear that the colours used on the exterior of your house are just as important as those used inside.
Homes with an outdoor pop of colour gained the most buyer benefit, with homes featuring navy or slate front doors selling for an average of £1176 more. Mixtures of grey and beige were also involved in higher sales compared to more typical tans and browns.
What these results tell us is that colour can make a huge difference to the potential of your home, provided you chose the right one.
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