While you may love your barn red kitchen, a new report released today by Zillow finds that it could cost you when looking to sell your home someday. The report found that painting your front door, kitchen, or bathroom with certain color palettes can drastically depreciate your home value by more than $2,000.
Having a brick or barn red kitchen may work well in your current home, but it can make prospective buyers feel boxed in with such a specific look: Homes in these colors were found to have sold for $2,310 less than expected.
The same effect was found in brown dining rooms. Dining rooms in this shade were reported to sell for around $1,684 less than expected. Zillow found that buyers would rather have the wall color reflect the vivid colors on the plate rather than something so modest.
In terms of curb appeal, stay away from yellow: Home exteriors with creamy yellow or flax yellow hues reduced potential sale prices by up to $3,408.
On the flip side, The study found that homes with merely the front door painted black or charcoal grey sold for a remarkable $6,271 more than expected—the highest premium found.
Inside the home, a fresh coat of paint in the kitchen can have a big impact, too. Tuxedo kitchens, or kitchens with the top and bottom cabinets painted white and black, were found to sell for a $1,547 premium. The "tuxedo" aesthetic in kitchens doesn't need two tiers of cabinets either. The same findings applied to homes that featured white cabinets contrasted by a black or dark navy kitchen island.
Bathrooms were the third place that Zillow found a big profit in improvements The study reports that bathrooms painted in a light blue, like a periwinkle shade, often with a pale grey trim, can see as much as $2,786 in premium. The idea of neutral tones also works well in living rooms with taupe-like color schemes.
"For a seller, painting a front door is one the least expensive home prep projects, but also one that can have a powerful impact on a home's sale price," says Kerrie Kelly, Zillow home design expert. "While cool, neutral wall colors like tan and light blue are still popular, we're seeing a notable shift in home design where pops of color–particularly in darker hues of blue and gray to even black—are becoming increasingly popular. Contrasting colors, especially in kitchens and home exteriors add interest and dimension to a room that plays very well in listing photos and videos."
For the report, researchers at Zillow looked at 135,000 images of sold homes across the country to analyze how paint colors may have affected final sale price. If you're looking to sell, these findings can help you move quickly and get a better price for your home with minimal time, work, and money. Who knew a fresh coat of paint could be so helpful?