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The Canadian Real Estate Market is booming and people are anxiously looking to sell their homes while the market remains a sellers market. This leaves many people looking to get top dollar for their homes during a sale and a frequently asked question is “Should I paint my home before I list it for sale?”. Of all the possible home improvements that can be done to add value to your home, painting generally provides the best value for your dollar and provides a great return on investment.
In a competitive housing market, making your home as appealing as possible to the widest range of potential home buyers is the best way to sell your home quickly and get the highest price. The value of a good quality paint job can typically be recovered with a higher selling price on your home. When it comes to painting, there are two different types to consider when selling your home – interior painting and exterior painting.
Interior painting is all about aesthetics. Homes are meant to be lived in, which means walls will get scuffed, dinged and smudged and your current colour scheme may be several decades out of style. The most important thing a seller can do is to create a clean, neutral and presentable space for the new homeowner to feel comfortable in. By opting for a neutral paint colour, most prospective buyers will find it welcoming. Even if the new colour choice isn’t their favourite, they will like the clean, neutral palette until they decide to paint at some point in the future. It’s important for home buyers to be able to see themselves in the home as it’s owner before they buy it, and a professionally painted interior can help make that happen.
Exterior painting is important for two major reasons – curb appeal and maintenance. Exterior paint is designed to protect your home against the harsh elements that come along with Canadian weather. Most buyers are unwilling to have to tackle major maintenance projects when buying a home, so it’s important to ensure your exterior paint is in good condition to help promote a sale. If your paint is starting to fail and showing cracks or chips, most sellers will use it as leverage to negotiate a much lower price. One of the most important aspects to a potential home buyer is the home’s curb appeal. When a potential buyer pulls up to your home, the first thing they notice is the exterior of the home. A professionally, freshly painted home can make your home stand out considerably more from the competition.
Find a colour that fits the neighbourhood and can be enjoyed by the largest number of potential buyers possible. Making the investment to maximize your home’s value is always a good choice and will greatly increase the odds of a fast and successful sale for your home.