The phrase "New Paint!" is one of the most powerful phrases used in marketing real estate. "New paint" shows the owner seller is conscious of first impressions made on potential buyers and has taken the eff fort to prepare their home to be "Move in ready". Particularly in today's competitive real estate market, "move in ready" is very important to 90 percent of the buyers who are not interested in purchasing a foreclosure.
Think about it. Buyers who are value driven are going to look first at foreclosures and short sales. They are willing to deal with the hassles of repairing and renovating the home they plan to buy. In exchange they will get a rock bottom purchase price and the opportunity to create some sweat equity.
Also in my market (metro Atlanta), relocated executives and professionals are looking for a house they can move in and enjoy without having to do any work. In exchange they are willing to pay a small premium and perhaps overlook one or two items on their functionality check list
The easiest thing an owner/seller can do to prepare their home for the market is to apply a fresh coat of paint to the walls, front door (and exterior if needed).
Here's my checklist of why most (if not all) sellers should consider "New paint"
1. This is a project that can be done by the seller if they are cash strapped.
2. If the seller has the financial resources, paint contractors are extremely affordable right now.
3. The new paints cover much better than older formulas. One coat is often enough to completely transform walls.
4. New paint SMELLS great. When a prospect walks in the front door their nose will alert them an improvement project has taken place.
5. New paint LOOKS great. New paint is visually appealing. And if the old paint was some exotic color, the new NEUTRAL paint will take away a buyer objection and replace it with a buyer plus on the checklist.
6. Most seller / owners will use the painting process to de-clutter rooms. A huge plus in today's market.
7. COST for "new paint" is affordable.
8. The marketing power of "new paint" on sales materials is powerful.
9. Old cabinets can be transformed with a product called "cabinet cote" This amazing product sticks to the surface of older stained, varnished or painted vanity and kitchen cabinets. After application, it looks like the paint surface was applied in a factory. I love the way this product works (about $50.00 per gallon but so worth it.
10. Fresh paint on a front door makes my real estate agent heart sing. First impressions and curb appeal for so little effort.
Pull out the brushes, rollers (love the foam ones) and buckets. Transform your home over the weekend!
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