27.5.13

Why it pays off to paint before selling your home...

Having navigated my own recent home sale I can tell you
that making sure your home is freshly painted and staged
makes all the difference !

Prospective new homeowners DO NOT want to have
to repaint all the rooms, repaint the trim and address
exterior restorations in addition to the high costs and
taxes associated with a real estate transaction. They
want to be able to move in and maybe make 1 or
2 adjustments in the first year of ownership.

Spending a few thousand dollars to have your
home professionally repainted can add as much
as 7 to 10% to the value of the home. Avoid painting
and you will be discounting your listing to the buyer
for things like:

1. Yellowed ceilings and trim
2. Aged finishes that are hard to clean
3. Tired old colour palette - we have seen homes that haven't seen a
    paintbrush in over 20 years (and yes some of them are in East
    Oakville of all places !)
4. Cabinets that are disgusting, dirty, and full of grease and kitchen residues
5. Bathrooms with old plumbing fixtures, corroded connections etc.

A $42,000 increase in the selling price was realized with a relatively
inexpensive repaint (4500.00) of the upper and lower floor of my
own personal home. Had we not painted, we were looking at a
heavily discounted selling price !


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