While a new coat of paint can transform a home, it can also work against your clients if the colors don’t resonate with potential buyers. According to a report from Fixr, the 2024 paint color trends are in, and listing agents are weighing in on how certain hues can impact a home’s value.
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Before your clients reach for a paintbrush to refresh their home’s look, take a closer look at their chosen color palette. Real estate experts warn that selecting the wrong shades could cost thousands — often in ways you might not expect, the New York Post reported Monday in partnership with Realtor.com.
While a new coat of paint can transform a home from ordinary to stunning, it can also work against listing agents and their seller clients if the colors don’t resonate with potential buyers. According to a report from Fixr, the 2024 paint color trends are in, and listing agents are weighing in on how certain hues can impact a home’s value.
The power (and risk) of paint
Blue Residential House | Canva
Painting is one of the quickest, most cost-effective updates you can make, especially when prepping a home for sale. If maximizing the home’s value is the goal, there are certain colors to avoid altogether.
The cost of repainting can vary significantly based on factors like paint quality, home size and whether scaffolding is needed for multi-story exteriors. Exterior paint jobs can run anywhere from $1,000 to $6,000, while interior projects typically cost less — especially if homeowners choose to DIY.
DIY homeowners can opt to pay hundreds for supplies, including brushes, rollers, tape, ladders and the paint itself, rather than paying for the cost of labor. On average, Realtor.com estimates an interior paint job costs about $3.50 per square foot, or around $2,000, including a primer coat.
Choosing the right hue
Color Palette | Canva
In recent years, homeowners have embraced bolder, non-traditional colors. However, sticking to “timeless neutrals” is often a safer choice if you’re selling.
In the story, Jenny Lenz, managing director at Dolly Lenz Real Estate, says of bold colors like vibrant yellows or moody charcoals, “In today’s market, buyers often swipe past homes with polarizing colors before they even set foot inside.”
For exterior colors, real estate agent Jonathan Yarton of the Yarton Group cautions against being a neighborhood “outlier,” interrupting the predominant style and color scheme of a neighborhood with, for example, “neon blue.”
Santiago Arana of The Agency recommends white as consistently “the most impactful color for properties in terms of sales, alongside neutral tones.”
Colors to avoid
Red Living Room | Canva
According to the Fixr report, which surveyed 71 interior designers, certain colors are major turn-offs for buyers.
- Red: 59 percent of designer professionals agree it’s the most off-putting to homebuyers.
- Lime green: 53 percent of experts find it unappealing.
- Bright yellow: 40 percent advise against it.
- Mustard yellow: Avoid, say 19 percent of experts.
Even once-popular shades like pink and turquoise are falling out of favor, with designers recommending against them.
Avoiding the ‘price erosion’ effect
Staging a home is crucial for maximizing value, but choosing the right colors plays an equally important role. Karen Otto of Home Star Staging warns of “price erosion,” wherein buyers inflate their mental estimate of what it would cost to change paint colors or make other design alterations, then take that amount off of their offer price.
“While bold colors like deep reds, greens, or bright oranges can be attractive to certain homeowners, they can decrease a home’s value by making it harder for potential buyers to picture themselves in the space,” explains Mike Fabbri at The Agency New York. “These shades often require repainting, which many buyers see as an added expense and time commitment, impacting their offer price.”
The takeaway? Opt for neutral, timeless shades to create a blank canvas that appeals to the widest audience and minimizes the risk of turning off potential buyers.