In today’s economy, financial uncertainty is abundant. Most homeowners think that spending thousands of dollars on home improvement is necessary to increase the value of a property. However, you can save money and still make your property more valuable by doing it yourself.
Of all kinds of home renovations, painting has the potential to be one of the most affordable avenues for increasing the value of your current home. Whether it is one room or the entirety of the exterior, there are a number of ways to tackle any colorful project without breaking the bank.
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What Can You Save By DIY Painting?
While it may seem safer to hire a professional company to complete the job, painting a home with an average of 500 to 1,500 square feet (1.39 a) can cost you between $1,000 to $3,000. Choosing to paint it yourself will bring that price significantly down to between $500 to $1,000, cutting the price nearly in half.
According to a 2019 Homelight survey, there is an average of a 51% return on investment of a home when the exterior was revamped with new paint. For example, if you spent around $2800 to paint your home’s exterior, you could be looking at over $4200 of added value.
This is because painting the exterior holds a number of benefits tied to the home’s maintenance. Adding a fresh coat of paint to your home’s exterior helps to keep mildew and mold from penetrating into the interior. It does this by blocking any moisture from getting into the siding or wood of the home. In fact, painting your home will prolong the usage of the siding itself.
So, now you know the cost benefits, here are some tips for getting a professional finish when you paint your home yourself:
1. Choose the Right Color
When raising the value of your home over time is the goal, considering what colors possess more long term appeal is crucial. Bright colors may be fun, but they can significantly lower your home’s value. Therefore, neutral colors such as gray, light blue, off-white, and taupe are optimal ideas for long-term appeal.
2. Consider Location and Trends
The location of your home is a detail often overlooked by first-time home painters. Understanding and considering the trends of home design where you live could end up saving or even costing you money due to how easily you will be able to sell the home in the long run.
For example, if your home is located in San Antonio, the common Spanish style colors such as burnt sienna or cream may be a good choice, while that same look would likely clash if it were located in Providence Rhode Island.
3. Use a Paint Calculator
One of the easiest mistakes to make is buying your paint, realizing that the room is ten times smaller than you anticipated, and having to discard plenty of valuable products. It may not seem like a big deal, but a gallon of paint typically costs between $15 to $40 on average. A great way to anticipate the amount of product you will need is by utilizing a paint calculator, which you can find online. You input data about the space you are planning to paint, including square footage and if there are any windows/doors to account for, and it calculates what an appropriate amount that you will need.
Painting a home is a daunting task, but it is far from impossible. Planning ahead, being patient, and trusting the process will result in a significantly more inexpensive alternative to an otherwise costly job. And at the end of the day, you will have the satisfaction of knowing you increased the value of your home with your own two hands.