Everything Old is ReNewed Again
From the get-go, everyone knows that a fresh coat new paint will always do wonders towards the sale of your complex. It does not matter whether it’s a bottom of the line fixer-upper, a huge multi-story townhome complex, some master planned community, or an apartment conversion in the middle of the metro area, the right colors will make your holdings of any kind stand out sell faster. On top of that, it’ll make you a whole lot more money in the real estate market – any real estate market.
The experts at Zillow did an analysis of 32,000 properties and compared the various sale prices with unusual aspects such as colors and how they created an atmosphere that would lead investors to actively bid to compete for your property, thus driving up the price significantly.
The key here is that new paint, above all, will make your building or complex sell for top dollar.
And just as important, maybe even more so, if you do not take the time the right colors you may choose the wrong colors. In all seriousness paying your home interior or exterior with the wrong colors will have exactly the opposite effect… It will drive buyers away. It is important to remember that buyers and we envision themselves actually living in the multifaceted units they visit. However, painting with the wrong colors can have the opposite effect. Buyers want to envision themselves living in the places they tour. And driving away buyers simply by using poor color choices will cost you tens of thousands of dollars. What are we saying here: essentially for the best result in any investment sale it is important to simply set your personal color tastes aside and goal with the colors that the professionals recommend best for highlighting your holdings.
Let’s go room by room and discuss the elements of optimum multifamily building presentation:
Best kitchen paint colors
We are going to start with kitchen since they bring in the highest return on investment. Whether or not you have modern kitchen appliances, a nice blue/gray tone is the finest color to use in this room for several reasons.
Initially, it makes all surfaces much easier to clean. White kitchens can become very messy when they are lived in, whereas an off white color scheme works much better with an active kitchen. And yes this is scientific. Science has shown in studies that bluish gray colors evoke feelings of trustworthiness in people which is of course very important when you’re cooking dinner. It also helps to connect your investment to future lease holders.
Kitchens tend to be very hot place so in addition, cool colors mentally create a cooling sensation mentally – people actually perceive that the room is physically cooler. Those same scientific studies combined with the still of study equal out in a townhouse complex that will sell over $1800 more per unit on average. Do we have your attention now?
Best living room paint ideas
Living rooms on the other hand, should offer a feeling of comfort, warmth, coziness and friendliness. And yes you may blandly look at the color as shades of beige, but we find subtleties in shades. This is why we find names that are evocative such as oatmeal or biscuit bring out personality.
These neutral colors will help someone relax and unwind. They also make a room appear bigger and more spacious — light paint makes the walls feel further away from one another, and dark colors make the walls feel closer. You (and home buyers) want your living room to feel spacious, not cramped. Ready for the bottom line? The study show that a warm neutral living room increases the value of a unit by and an additional $1900 compared with plain white walls.
Best bedroom paint colors
Straight forward. Bedrooms painted blue tend to have the best ROI.
Why? Bedrooms are meant to be relaxing, and blue is a calming, soothing color. Blue is also a neutral enough color to be universally pleasing to most people, so potential buyers can easily envision themselves sleeping in the bedroom.
The same studies have also shown that, like beige colors, blue paint tends to make a room feel larger.
Zillow found that properties with bedrooms painted cerulean blue attracted especially high offers — units with bedrooms painted this color can sell for an extra $1,856. per unit for the whole affair. Cha-Ching!
Best bathroom paint ideas
Like Most People. you might think that white is the absolute ideal bathroom paint color, but surprisingly, Zillow found that bathroom paint colors in periwinkle blue or pale blue can push an individual property’s price up by a whopping $5,000. Read that line again. And remember, this is for a bathroom! And how many units do you have?
Like a bedroom that’s painted blue, a bathroom with blue walls is soothing and relaxing. People associate the color blue with water and swimming pools and with being clean and healthy. In addition, a bathroom painted blue hides stains better than one that’s painted white. In a highly trafficked room like a bathroom, you want to hide the stains as much as possible.
A bathroom is one of the most important features of a property you’re selling. Buyers want to see a bathroom that’s well-designed and well-constructed — but color is just as important when attracting buyers and long term renters/leaseholders later on.
Home exterior paint colors
Now, Let’s Move to the outside. Stay in front of your multifamily compound and just imagine what it would look like if you sought for the very first to time. First impressions last. To improve the curb appeal of your place, paint your exteriors with contemporary “greige” (a combination of beige and gray), teamed with crisp white trim.
Greige actually is a color combination that’s studied and certified as being truly welcoming to buyers. The gray color in greige helps deliver a a natural look, while the beige color adds a bit of warmth. A white trim is also timeless and adds a fresh, clean look to the exterior.
Cool neutrals such as greige are your best bet for exterior paint colors when getting ready to sell
— they can increase the sales price of your singular apartments by $3,496. Have you been adding all of this up? It’s quite substantial for the amount of time and effort taken to put on a new coat of paint isn’t it?
Painting still the best
Yes, you could do a lot of things to spruce up your buildings. Everything from remodeling bedrooms to putting in hardwood floors to landscaping the entire front yard. Each of these elements could add up to 100% return on investment towards the overall sale price of your home.
If you don’t want to spend a lot of money improving your entire complex, painting is still one of the easiest, most cost-effective ways to increase the sale price of the investment.
Getting your property sale-ready with new paint is one of the best things you can do to maximize your sale. Using the right kind of paint such as satin finish or eggshell in high-traffic areas like the kitchen or bathroom will be more forgiving on dents and scratches on the wall.
You may not need to paint every wall if you can’t afford to — just the main living areas and the front door will be enough to give your property the lift it needs to make a quick and profitable sale.
What you do need to do to maximize the entire value of the overall holding, is to contact us immediately for a consult. We will help you bring out the very best of what you have to offer buyers.