To Paint or Not To Paint, That is The Question

To Paint or Not To Paint, That Is The Question

One of the questions I am asked most often as a Realtor is: “Should I repaint my house before selling it?” Although painting is on the less labor-intensive side of the overall spectrum of home improvement projects, it still requires an investment of time and money. In the past year with homes being sold “as-is” and sight unseen from photos and video walkthroughs you might wonder if repainting the exterior and interior walls is necessary..

The answer to that question hinges on a number of factors. First, consider getting a market value checkup and find out how your home compares in market value to those in your neighborhood that have sold in the last 6 months. This will give you a good barometer to use in determining how much you may want to spend. Second, are you selling within a year or staying? Armed with this information you can begin making some decisions about what to fix and what to replace. Click here for a quick home market evaluation: HOW MUCH IS MY HOME WORTH?

Selling in our current housing market.

To decide whether to repaint your house before listing, let’s take a look at the housing market.

Buyers have been forced to make compromises: The market has been so fast and so hot buyers had to strike quickly or lose and this forced a lot of compromises. According to an industry group survey 23% of buyers in their survey who purchased a home in the last year reported buying a home in worse condition than their initial expectations.

Market shifting toward more balance: Some areas of the country are reporting a slight market shift toward a moderate slowdown due to higher interest rates. However, so far the statistics in the DFW area point to a continued growth in prices although sales have slowed slightly due to inventory and interest rates. 

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Curb appeal

Curb appeal is vital for making a fantastic first impression with buyers! Remember - you get one chance to make a first impression. What they see walking up to the front door sets the tone for the buyers’ expectations of your home’s condition. When they walk in and see fresh paint in neutral shades that allows them to “see” themselves in the home, goes a long way to enhance their opinion of your home. A fresh clean look both inside and out says you have been ‘taking care of this home!’

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Signs you need to paint

The condition of your home matters: With a little more inventory buyers will not jump as fast to purchase a home that may need some work. Buyers are becoming less prone to compromise, particularly when their down payment is eating up so much more of their available funds - they have less available for any repairs, enhancements or upgrades.

If you’ve painted the exterior recently, a good power washing might be all your house needs. Interior walls can be a little more touchy so be cautious trying to wipe them down - especially if they are painted with flat paint which may not be ‘scrubbable.’ Best to test an area, like a closet first! 

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Exterior - your home exterior may need to be repainted if:

• The paint is faded: prolonged exposure to the sun and the elements can cause paint to fade. Fading of exterior paint is common here in North Texas with the high UV of the summer. A good way to tell the condition of your exterior paint is to just rub your hand over the surface. If it's ‘chalky’ and rubs off on your hand it's time to repaint.

• Your paint is flaking and peeling: These issues can ruin curb appeal in an instant––and give buyers the impression the home has been poorly maintained.

• Your  house has cracks, gaps, and wood rot: Cracked caulk, gaps between siding, wood rot, and cracked wood warrant a new paint job and replacing damaged materials. You’ll have to address these items sometime as a buyer’s / lenders inspector will find these items and put them in their report. Better to be done now when you can better control the cost.

• Your house has water damage, mold, and mildew: Moderate signs of mold and mildew can often be removed with a special cleaner. However, if mold or severe water damage penetrated through the surface of your exterior walls, you’ll need to repaint them and that is usually a job for a pro.

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Pro Tips - From cost savings to aesthetics to repairs and more, consider the following tips from the experts when repainting a house exterior.

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• Choose the same paint color. If you choose a color that’s too different from your current shade, you’ll likely need more than one coat for proper coverage. If the color on your walls isn’t a neutral shade, paint it in one of the popular neutral exterior and interior paint colors that appeal to buyers.

• Do repairs before painting. NeJame recommends replacing rotted clapboards and trim and fixing loose shingles [or siding] before painting. “Never paint over rotted wood, or your home inspector will catch this and ding you for it,” she cautions.

• Add a pop of color to your front door. You can make your home stand out tastefully with a pop of color on the front door. This adds visual interest to your entryway that buyers are likely to admire. It’s also an inexpensive option when you don’t have the budget — or the time — to paint the entire house. Realtors generally agree that black is always the best choice for your front door.

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Interior - If your walls haven’t seen a paintbrush in the last five to seven years, it’s likely time to freshen things up. Through the years, walls can absorb moisture, grease stains, and sun filtering through the windows as well as show dirt, scuffs, fingerprints and paw-prints from the people and pets who inhabit a home.

• The paint is faded and discolored: Sun shining through windows can discolor the paint on walls. Darker paint colors fade faster than lighter shades, but all colors fade eventually.

• The color palette doesn’t appeal to buyers: One seller had trouble selling his home. Buyers couldn’t get past the pink, purple, and mint green painted walls for his kids. After receiving agent feedback, he repainted the rooms a neutral white, and the house sold on the next showing.

• Your interior paint is peeling and chipping: You can remove some dirt marks and stains from interior walls with a deep cleaning, but chipping and peeling require sanding and repainting. Other signs it’s time to repaint include tough scuff marks, deep scratches, and grease stains. Hallways are most often in need of TLC where baseboards and cornerbead can get chipped and marked up. 

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Pro Tips - When repainting your house before selling, take a cue from the pros with the following expert painting tips.

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• Paint the entire wall. Pros recommend painting the whole wall. Spot painting rarely works, because the paint on the wall is slightly faded compared to the paint you had stored in the garage.

• Use good quality paint. Paint isn’t the place to skimp. Paying $18 for a gallon of paint might need two or three coats to cover a wall and bring out the color; however, a better-quality paint that includes a primer, you can get it done in one shot, saving time and money.

• Paint the walls in a neutral color. Buyers gravitate to neutral color schemes, according to 98% of top agents surveyed in the Top Agent Insights Report. Painting the walls in a neutral white, beige, gray, or earth tone, the home will look more spacious and inviting––and provide a blank canvas for buyers that helps them envision the house as their own.

• For flawed walls, repair or use flat paint. When walls have imperfections like dents, dings, or cracks, the lack of sheen in flat paint is more forgiving. If you use an eggshell or satin the flaws may be highlighted by the shine..

Bottom line - painting your exterior and key rooms in the interior a neutral color can help attract buyers and boost your sale price. The investment in making your home more presentable both inside and outside will pay dividends in the sale.

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Resale value and ROI.

Repainting the exterior of a house can be pricey — especially when you hire a professional to paint a sizable home. It’s only natural to want to recover a high return from your sale proceeds. According to experts, the good news is that on average, painting the exterior of a home can give an ROI as high as 150% in some areas.

The interior can cost, everything included with wall prep, paint and trim (baseboards,wainscoting and cove molding, if you have it) will likely run between $2.00 and $6.00 per square foot.

The cost you’ll pay for interior painting depends on several factors, including:

• The size of each room

• The number of rooms that need painting

• How many coats of primer and paint are needed (one gallon covers 400 square feet)

• The quality and sheen of the paint, we recommend an eggshell or satin on walls and a semi-gloss on doors and trim as it makes keeping them clean much easier

• Architectural details like wainscoting and millwork

• Additional labor such as painting high cathedral ceilings

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To Paint or not to Paint: Key Takeaways.

So, is it worth it to repaint your house before selling? If you have the time and money for it or your exterior or interior is worse for the wear, go for it. Painting is one of the easiest projects you can take on before you sell.

Homes that are already in fair condition or at a higher price point may not gain that much but the homes that are in lower price points and need a pretty good cosmetic overhaul can see a significant impact.