REAL ESTATE | Selling Your Home

It's one of the easiest ways to get your home market-ready. Here's what you should know

Sellers getting ready to list their homes for sale have been met with a lot of unwelcome news lately.

Mortgage rates are rising, price cuts are happening and the pandemic-era buying frenzy is showing signs of cooling.

“We’re seeing more days on market, more concessions,” says John Diaz, a Douglas Elliman agent in Las Vegas. Sellers need to do more these days. But where to start? A fresh coat of paint.

“Painting nearly always pays not only with a higher sale price but also a faster sale,” says Pat Ward, a Sotheby’s International Realty agent in Carmel, Calif. It “gives the illusion of newness,” says Michael Rosenblum, a broker with Berkshire Hathaway HomeServices in Chicago.

“A property with sad paint is a buzzkill,” says Mia Cottet, a Sotheby's agent in Los Angeles. “It feels like a compromise right off the bat.”

of sellers in 2022 plan to do some sort of painting, according to Realtor.com, with 47% planning to fully repaint their home’s interior. Thinking about a pre-listing paint job? Here’s what you need to know:

Wear and tear—scuff marks, fading, chipping or peeling—necessitate a repaint, but much of the project depends on what’s currently on the walls.

The right color is key. Sellers will be hard-pressed to find an agent that recommends anything but white or gray. “Buyers like to see white walls,” says Mr. Diaz. “They see a blank canvas.”

The proof is in the paint: The best-selling interior color for Sherwin-Williams is Agreeable Gray, followed by Pure White and Alabaster, a white with yellow undertones.

First impressions mean everything to buyers.

If the exterior paint is discolored, peeling or dirty, it can affect curb appeal. Most homes should be repainted every five to 10 years, depending on the surface material and paint used. Unlike interior walls, going dark on the exterior can be a selling point.

of the Sherwin-Williams’s top-selling exterior colors are moodier tints, like Iron Ore and Tricorn Black. “Consumers are loving bold, saturated exteriors,” says Sue Wadden, director of the brand's color marketing.

Many variables factor into the cost of painting, like location and square footage.

If you choose to do it yourself, here’s what you’ll likely spend on supplies, according to HomeAdvisor, an online marketplace for home services:

Then there’s the matter of doing it yourself versus hiring professionals. Consider the magnitude of the project. Are the ceilings vaulted and require scaffolding? Is there intricate trim or lots of cabinetry? “Professionals can be fast and more efficient,” says Mr. Diaz.

Professional painters can charge $20 to $50 per hour, plus paint.

Mr. Diaz estimates a professional job costs roughly $4,000 for the interior of a 1,500-square-foot home, including doors, trim, ceilings and baseboards. The exterior is pricier, costing roughly $5,400 for the same-sized home.

One factor that’s harder to put a price on? Time. While a professional painter can cover a single room in a few hours, it could take a DIYer three times longer to do the same job. And in today’s fast-moving market, time can mean everything.

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