Conventional wisdom states that real estate investors should stick with neutral paint colors when rehabbing properties to rent out or sell at retail, but it may be time to revisit that time-honored axiom. According to a study released by Think Realty benefit provider Sherwin-Williams, a little more vibrancy in your color spectrum could increase your property’s appeal.
According to the study, several “vibrant” colors can elicit positive reactions from residents and buyers. Nearly two-thirds of respondents selected blue as a color they like most, with those responses spread consistently across genders, regions, and age. Interestingly, nearly half also said they associate the color “with calmness.” As an additional benefit for real estate investors, soft blues, while not traditionally considered truly neutral, are not usually considered a deal-breaker for homebuyers, likely because it is not particularly difficult to change the color later if the homeowner wishes to do so.
Science & Design
Sally Augustin, Psy.D and a principal at Design with Science, a cognitive, science-based design consultation firm, said of the results, “In the case of blue, it’s often subconsciously linked to trust, dependability, and competence, and can also be associated with rest and provide a cooling sensation.” She added blue is a “great choice for a bedroom or office.”
The study also revealed some interesting information for real estate investors targeting certain age demographics with their properties. For example, Millennials are more likely to associate green with energy, while Baby Boomers tend to associate the color with calmness.
Furthermore, the research indicated some regional preferences and trends that investors might find useful. For example, the decision to use an “unusual” color like pink or red might not be so unusual in the southwest, where these color choices are far more prevalent than elsewhere. In the southern region of the U.S., blue was “highly indexed,” although it was popular in all regions.
Sherwin-Williams released its study in conjunction with National Painting Week last year, but the company does far more in honor of that week than just releasing useful research analyses on paint and color trends. The company’s employees also spend the week refreshing the paint at community centers, parks, and historic landmarks around the country. Sherwin-Williams also donates paint and project supplies, as well as creating a series of longer-term project plans throughout communities.
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