Wave goodbye to that pristine white kitchen. Recent data suggests that modern home buyers are gravitating towards more atmospheric interiors, particularly those adorned with shades of deep gray, as per a recent analysis by Super Agents on paint color inclinations.
The study* reveals a fascinating trend: buyers are willing to shell out considerably more for homes with dark gray walls compared to those with white ones. The difference in valuation?
Properties featuring a graphite gray kitchen could potentially command a price approximately $2,512 higher than their white-walled counterparts. Similarly, homes with a dark gray living area might see an increase of about $1,755. Even a subtler shade of pewter could add an unexpected $2,553 to the valuation.
Conversely, a white kitchen might decrease the offer by around $612.
While real estate professionals are aware that numerous factors influence a property’s final selling price, these insights could guide homeowners aiming to make strategic renovations before listing their property.
Dark Shades Evoke a Sense of Comfort
The rising popularity of darker wall colors, often showcased on home renovation TV shows and social media platforms, might be more rooted in psychology than mere trend-following. Mehnaz Khan, an expert in color psychology and an interior designer based in Albany, New York, offers an intriguing perspective.
Khan explains, “Gray symbolizes seclusion. As society transitions from the pandemic era, individuals, now re-immersed in their bustling routines, yearn for their homes to be sanctuaries. They desire a space that shields them from the unpredictability of the external world. Rooms swathed in dark gray can evoke this sense of protection.”
Super Agents’ analysis indicates that homes with charcoal gray walls consistently fetched higher offers than those with white interiors, irrespective of the room in question.
Even when compared to neutral shades, the allure of dark gray remains unmatched. For instance, a living room or bedroom painted in this shade could increase the property’s value by at least $1,755.
Bathrooms with Earthy Tones Garner Higher Offers
Earthy colors, when applied to bathrooms, also seem to resonate with potential buyers. For instance, bathrooms painted in terra-cotta brown, hailed as a 2023 color trend, could enhance a property’s value by approximately $1,624.
However, the fascination with gray has its boundaries. A cement gray front door could potentially reduce a home’s offer by a staggering $3,365. In contrast, a mid-tone rosy brown front door might add an extra $300 to the offer.
Super Agents’ data suggests that sellers typically undertake two home improvement projects before listing, with interior painting topping the list. Opting for paint colors associated with higher offer prices might be a strategic move for sellers aiming to maximize their returns.
*The paint color analysis stems from a series of Super Agents studies, surveying over 4,700 recent and prospective home buyers nationwide. In each study, participants were presented with images of homes with interiors and front doors painted in a variety of shades. Each color was then scored based on the participants’ perceptions, their likelihood of visiting the property, and the price they’d be willing to offer. This specific study, conducted between December 8-30, 2022, encompassed 4,711 participants from across the U.S., all of whom had either purchased a home in the last two years or intended to do so in the upcoming two years.