03 Mar Exterior Painting and Selling Your Home in Kansas City
There are many benefits to a high quality exterior paint job for your home. Beauty, protection, and curb appeal, to name a few. One benefit to painting the exterior of your home, especially for those looking to move in a couple years, is the speed and price at which it will sell once you paint it. A well painted exterior dramatically changes not only the curb appeal, but the price as well. Let me illustrate the point with two examples.
Exterior example one: Some homeowners are looking to sell their home to upgrade to house in a neighborhood they’ve always wanted to live in. Their home is in desperate need of exterior repairs and paint, but they decide to list the home “as is” instead of coming out of pocket to paint the exterior and make the necessary repairs. The home lists and sits on the marker for six weeks. Finally, the home goes under contract and the potential buyers send in their inspector. The inspector points out to the buyer all the wood rot locations of the home, and that it is in desperate need of exterior paint. When the buyers go back to the sellers, they will almost inevitably renegotiate the price down further to compensate for the wood rot repairs and exterior painting that is needed. In this scenario, not only will seller’s initial list price be lower, but they will probably have to move the price lower to sell the home.
Exterior example two: Some different homeowners are looking to sell their home and are well aware of the need for exterior paint and repairs. They hire a professional painter and update the home with new colors, and replace all the wood rot prior to listing the home. By adding fresh color and making the exterior repairs, the homeowners have now added curb appeal, and I would argue their list price will be much higher than example one. Not only will the list price be higher, but now, they will not have to renegotiate any exterior painting or repairs with the potential buyer. This upgrade should also appeal to more potential buyers and move the home more quickly to an offer.
Most homeowners, when their ready to sell, usually don’t want to sink a lot of money into their home. I get it. However, in example one, the homeowner loses three ways by not updating the exterior. First, by having a lower list price. Second, by taking another hit after the inspection. Third, the speed at which it sells. Updating the exterior of your home pays in the long run. You may take a small hit to sell, but your return on investment will always be worth it.
View Exterior Painting projects here.