There's no denying that upgrades are a surefire way to improve your property value and attract new tenants to your rental. However, the tricky part is often determining which updates are worth the time and money required.
A simple Google search on tips for adding curb appeal will reveal that updating your front is one of the best ways to spruce up a house. After all, a home with a modern and inviting entrance can entice visitors and prime their minds to expect a fantastic place.
But how profitable is an entryway upgrade? Does the front door color improve curb appeal and property value? And what colors bring the most ROI? Let’s dive in and find out the answer to these questions.
Does Front Door Color Improve Curb Appeal and Property Value?
Having a fit over the color of your front door might seem like a mundane problem. After all, who cares if it's white, black, or blue? However, behavioral scientists are starting to understand the human mind more and what cues our brain picks in specific environments. In other words, your choice of paint might be such a mundane problem.
In recent surveys, Zillow found that the color of your front door can affect your selling price. Considering a minor paint job is one of the home renovation projects you can do on your own, it might seem shocking that most participants said they would pay significantly less for a door with an unattractive color. A mind-blowing figure of up to $6,500 less. As a landlord, that could translate to lost interest in how much your tenants are willing to pay to lease your apartment.
Instead of leaving so much money on the table, figuring out which colors are best suited for maximum reward is undoubtedly worthwhile. Investing in such knowledge can subconsciously convince more renters that your home has more value and they should be willing to pay for it. Let's find out what the best colors to choose from are:
Best Door Colors to Choose From
1. Black
Black is easily one of the best colors for your front door. According to the Zillow survey, most participants picked black as their first choice and the one they were willing to pay the most for. It is also the most commonly searched color associated with front doors.
For the best result, opt for paint with a glossy or matte finish to give your house a more refined look. Your solid and imposing black front door will have tenants swarming to pay rent in no time.
2. Blue
If you're not a fan of dark colors, you can opt for the second-best choice: blue. Our brain often associates blue with calmness and safety, so it's an excellent choice for property owners. Slate blue, especially, is trendy because it is warm and inviting. It's also a perfect choice if your rental property's exterior is a bright color or brick house. You can contact a local property manager to discuss your plans to improve your curb appeal.
3. Green
Property owners who prefer more earthy tones should opt for shades of green. Olive green is incredibly inviting and complementary to neutral-toned exteriors. Gree also signifies wealth and prosperity, especially when you opt for quality paint that brings out the zest.
Other Factors that Dictate Property Value
1. Updated Kitchen Remodel
Kitchens are one of the essential rooms for renters and buyers. Thus, they're easily one of the best places to rack up property value points. New countertops, modern cabinets, improved lighting, and energy-efficient appliances are strategic ways to make your kitchen look more modern and appealing.
2. Modern Appliances
No one wants to feel like they're living in the stone age, and using outdated appliances can give tenants that impression. So attract more applicants to your home with the promise of new and improved equipment that makes their lives easier. Smart thermostats, an in-house washer, a dryer, and an energy-efficient refrigerator are some of the things you can splurge on.
3. Exterior Paint
While we're o the subject of colors, you may also consider repainting your home's exterior. Flaky paint has the disadvantage of making your house look shabby and unkept, so if your exterior shows signs of wear, it might be time to call in a professional painter.
Conclusion
Real estate is a capital-intensive business, so it would be in your best interest to ensure every penny you invest reaps rewards. While you should consider significant factors like location and amenities, minor decisions like paint can also influence your profits. We hope this article satisfactorily answered the question, 'does front door color improve curb appeal and property value?' As we've seen, it 100% does, with the most sought-after colors being black, blue, and green.
If you need help making the right home selection or choosing another upgrade to improve your curb appeal, speak with an expert. A property manager is a licensed professional that can help you make the best decisions for your business.