One of the best feelings that investors have is discovering that the present value of their property is worth more than when they acquired it. It shows that their investment is worthwhile, and they can make more profit from selling it.
Sometimes though, the real estate market can be quite unpredictable. Home renovations should boost the value of your property. But in reality, not every home remodeling can do so. Some costly renovations offer a low return on investment. Such upgrades will only add lesser value to your property. On the other hand, some inexpensive improvements can boost your home’s value. Painting the exterior of your property is one of the few essential upgrades.
If the home’s exterior is unattractive, people will have the notion that the property has poor maintenance and low value. Home appraisers and home inspectors rate the curb appeal of your home during their assessment. A study performed in 2015 showed that exterior paint on properties offers about a 51% return on investment. Consumer reports indicate that painting the exterior can boost your home’s value by 2-5%.
Painting the whole property is a serious task that requires a professional touch. Depending on the size of the property, it may take up to five days to complete the job. On average, it will cost about $2802 to have a professional paint your home’s exterior. Although this may seem high, you can get your money back with some extra if you do the right thing.
Below are various ways that painting your home’s exterior can add value to your property.
The real estate market in Arizona is highly competitive. If you want to sell your home faster, you will need to make beneficial improvements. When prospective buyers search for properties online, the first thing they see is the home’s exterior appearance. Even during the physical inspection, the exterior features of the house will give them the first impression. For that reason, it is essential to paint the property’s exterior.
We recommend that you hire a professional painter who can select the appropriate paint and color that will give your home a facelift. When buyers notice a professional painting of your exterior, they will be eager to buy your property before another person does so.
Exterior painting is an effective way to improve your home’s curb appeal. It helps you to highlight or accentuate the unique elements and characteristics of your home’s architecture. Professional painters utilize different paint colors to create lasting impressions in the minds of homebuyers.
Before painting the exterior surfaces of the home, professional painters prep the walls. During this prep work, they will identify areas that have visible and hidden damages. Examples of such cases include insect infestations, wood rot, damaged sidings, etc. As a result, you will need to perform the necessary repairs and replacements for a quality exterior paint job.
By performing these repairs, you boost the home’s value. Home inspectors will not report those defects because you have already done the repairs.
When the exterior walls of your home have chipped or peeling paints, it exposes the house to adverse weather conditions such as snow, rain, high humidity, frost, or ice. The exposed surfaces can trap moisture and result in wood damages. Wood damage can present as rot, mildew, cracking, or flaking. When this happens, termite infestation is possible.
In addition, professional painters can paint your home in colors that will prevent your home from sustaining damages following exposure to sunlight. As a result, it helps to cool the home’s interior, conserve energy, and also extend the lifespan of the painting. Prospective homebuyers in Arizona put more value on properties that have these energy-saving qualities.
It is essential to note that not every exterior painting will offer these benefits. For an optimal outcome from your exterior painting, we advise you to do the following:
If you are searching for strategies to add more value to your home, painting the exterior is an economical way to achieve it. Although it is difficult to please everyone, exterior painting is a sure way to success because almost everyone pays attention to the external appearance of a property. An elegant home exterior translates to quality maintenance and high value. Unless you are a professional painter, you should not attempt to paint your home’s exterior. It’s always best to
Article contributed by: Olivia Jayden, Taylor Street Property Management
