Are you a property owner in Sydney planning to resell your residential or commercial space?
If yes, you might have heard a lot of tips on increasing its value on the property market. Among all the suggestions, painting must be a common one.
Does painting actually add value to a house or business premises?
Yes, it absolutely does. In fact, real estate professionals suggest that properties with recently painted exteriors or interiors can fetch up to 5–10% more when they go up for sale.
So, what is the ROI on painting an estate?
A HomeGain 2012 Top DIY Home Improvements for Sellers survey found that painting your home’s exterior can yield a 55% return on investment, while painting the interior can provide a 107% return. But how? We will find this out on today’s blog.
Five ways a professional paint job adds more worth to a real estate
These are the five ways painting done by experts actually increases the value of that specific project –
1. Enhancing the appearance
With passing years, every property gets unwanted marks and damages due to the daily wear and tear or lack of maintenance. No matter how old or worn-out a space becomes, when a fresh layer of paint creates a smooth layer, it automatically gets a fresh outlook. The clear canvas creates a good impact on the outlook and makes it seem like a brand-new place. Expert painters, through their modern painting techniques, can help you remove any sign of marks, fading and ageing of the outer surface. In the case of interior painting, the right technique and colour can even make the area spacious.
2. Increasing interest of buyers
When selling a property, you can never ignore the impact of creating a first impression on the buyers. Every buyer would like an estate that is well-maintained and taken care of properly. When you invest in a professional paint job, it creates a neat and clean aesthetic that grabs the attention of any buyer as they think you have taken good care of that project. When you select the right colour and finish, you can highlight your project’s best features and give it an instant kerb appeal that will entice potential buyers to look further. Also, it might be a powerful selling point on its own since buyers usually select move-in-ready assets that require little upkeep or renovation.
3. Safeguarding your investment
Along with being aesthetically pleasing, painting provides weather protection. Your retail store, office or home is protected from adverse weather by exterior paint, which also keeps moisture, UV rays, and pests at bay. Renowned painting services in Sydney, for example, use high-quality paint which can stop insect infestations, mould growth, and wood rot, and help you avoid expensive repairs. Similar to this, interior paint shields walls from normal wear and tear, which eventually lowers the need for maintenance. A structure that has been properly painted and sealed will last longer, save money on future maintenance, repainting, and any damage costs.
4. Emphasising architectural designs
Every residence and commercial space has some unique architectural feature that can simply work as a point of attraction. While hiring your designated painter, make sure you express the areas you want to highlight. It can be a stunning staircase, exquisite window trims, or exquisite crown moulding. Depending on which elements are the strong features of the properties, you can try different techniques as well. Painting a door or window frame in a standout dark colour or by adding texture to certain surfaces are some common and effective ways to highlight the features.
5. Updating the outlook
Trends shift over time, and using colours that are out of style may take away from the appeal of your project. A new coat of paint in contemporary hues can change a room’s atmosphere and give it a more stylish and welcoming feel. When you get the opportunity to repaint an area, you can study the recent colour or finish trend and plan the painting project accordingly. While selling, you can show the buyers how up-to-date the property is and use the fact as a bonus to claim more value for it.
What are the conditions to maximise property value through painting?
Painting is an effective way to increase the price of a real estate, but you need to follow some rules to get the real benefit.
Focus on both interior and exterior
When you decide to get your project painted for resale purposes, many will suggest only painting exteriors, as it’s visible from every corner. However, to get maximum ROI, you must invest in painting both inside and outside of a property to make it look polished and well-maintained.
Choose a suitable colour palette
Every year, well-known designers release a fresh colour scheme that sets the year’s trend. While painting the property, get knowledge of the current colour trend and try to incorporate that in the best possible way. However, don’t just blindly follow any trend, try understanding the project’s requirement, size and style to choose the perfect shade. If it seems complicated, take colour consultancy from your trusted painters.
Hire the right painting company
When your purpose is to make the asset an appealing one to the buyers, the painting results should be top-notch. Not every painter can provide flawless results. Only experienced and trained hands can help you achieve the premium look you have been dreaming of. So, before hiring, ask your selected professional painters all the necessary questions, compare the prices and check the years of experience.
