This is one of the most commonly asked questions in real estate: “Should I repaint my house before selling it?” Painting is an overall minor part of home improvement projects but it still requires much time and money. Within the last couple years of selling your home in the real estate market, you could get by with selling “as-is” and even having the buyers purchase sight unseen. With this strong sellers market you may be thinking that repainting the exterior and interior walls isn't all that necessary.
The market is now shifting from a strong sellers market to more in the middle. Buyers are now being a bit more picky. Mortgage demand has now hit a 22 year low meaning that less buyers are willing to pay the higher interest rates for their new home. With this being said, less buyers means that less people will be looking at your home and this may lead to your home being on the market for longer to get the price you desire.
Scottsdale is still a very attractive location to buy a home and many investors are still buying up homes. These investors are still going to have an inspection of the home before purchase and will see any faulty items, such as paint, to see if they can get a better price on the home. Investors want the lowest price for the home so the rent they receive makes their investment an even better deal for them. Your home with beautiful and fresh paint will have any person wanting to purchase before the next buyers see it!
If your interior paint and exterior paint needs to be repainted, there is more of a chance that buyers will look over your home, see the work that is needed and try to negotiate with you to paint it before closing or try to lowball you on the price because they will have to do the work themselves or hire a painting company to complete the work. Both sides of this coin are going to be a headache.
Likely, one way or another you will have to paint your home or lower your asking price. History shows that the amount you and the buyers will negotiate is more than what the actual cost of painting will be. You would rather have everything in top shape so the buyers have less bad items to go off for negotiations. When having a fresh paint job inside and out, your house may be on the market one day and under contract the next!
Resale value of your home may increase with exterior paint as the curb appeal is boosted and looks like new. Buyers are more likely to come and see your home because the outside photos look great! The interior painting will have the buyers thinking of the layout that they want their furniture in rather than the pain its going to be to paint the house and if they want this DIY project.
People are willing to pay for convenience and this is where the true value comes in. Painting your home may not bring up the value of your home by $10,000 but it surely can if someone is willing to pay that because they want to move in right away rather than taking the time and energy to hiring a painting company and waiting for their new home to be painted!
The easy answer to this is no you do not need to repaint your house before selling. If the exterior of your home is just dirty and needs some cleaning, you may just need a company to power wash your brick, wood or siding. Power and pressure washing in Scottsdale will be much less costly and time consuming and will rid the exterior of grime and dirt to get your home looking clean once again.
If your home is starting to look a bit shabby, it may be time for a new coat of paint. Here are a few signs that it's time to break out the brushes:
- The paint is faded or chipped: Sunlight and weather can take a toll on your paint job, causing it to fade or chip. If your home's exterior paint is starting to look dull, it's time for a fresh coat.
- You're seeing signs of wear and tear: If you're noticing cracks, peeling, or flaking, it's time to repaint. These problems will only get worse over time, so it's best to address them now.
- You're planning to sell: Whether you're selling now or in the future, repainting your home will increase its value. A fresh coat of paint can make all the difference when it comes time to show potential buyers around.
If you're seeing any of these signs, it's time to start thinking about painting your home. With a little work, you can give your home a whole new look.