Got the blues?
Those with a penchant for decorating in blue could reap financial rewards.
Landlords looking to make colour choices that translate into higher rents should embrace the blues, according to new research from the US.
Zillow’s 2017 Paint Colours Analysis has crunched the numbers and found which colours can result in higher – and lower – house sale prices. And it seems that those partial to a spot of blue could be in the money:
- Bathroom – powder blue to soft periwinkle – sold for US$5,400 more than expected
- Front door – navy – +US$1,514
- Kitchen – soft grey-blue – +US$1,809
- Bedroom – light cerulean to cadet – +US$1,856
- Dining room – slate blue to pale grey blue – +US$1,926
Interestingly, colour theorists have found that blue is an appetite suppressant (having to do with blue foods not occurring in nature – blueberries and some ‘blue’ potatoes are more purple than blue). So painting a kitchen or dining room blue is possibly a counter-intuitive choice, that or most of the western world likes to diet!
The only room where shades of blue did not reign supreme was the living room – in fact painting this room pastel grey, pale silver to light blue or periwinkle resulted in US$820 coming off the sale price.
When it comes to the living room, the most profitable choice was for browns – light beige, pale taupe, oatmeal – adding US$1,809 to the kitty at sale time. But going for brown (medium brown, taupe or stucco) on the exterior of the home had the opposite effect, lowering prices by US$1,970. However, adding a bit of grey to the brown to create ‘greige’ saw sale prices fetch US$1,526 more.
Contrary to the advice espoused by many interior decorators – ‘go neutral or go home’ – it seems that erring on the side of white can negatively impact prices, in the bathroom anyway. A bathroom painted off-white or eggshell was found to lower the sale price by US$4,035.
Red dining rooms (terracotta, brick red, copper) also resulted in lower sale prices, shaving off US$2,031, while yellow kitchens pushed prices US$820 lower and pink bedrooms knocked US$208 from the figures realised.
Although the research was based on US properties and focussed on home sale prices, the results are something landlords can bear in mind when next they are looking to spruce up their investment property with a new lick of paint. You never know, a splash of blue just might positively impact on the asking rent too.