When working on a real estate investment flip, cosmetics are very important – this is what your typical buyer will notice first. Many times, an investment flip is an older home, it may or may not need extensive physical repairs, but very likely it will have a dated appearance. This is where you get to put in an updated bathroom and kitchen, and new flooring and suddenly it’s a nice, modern home. New cabinets and tile, new countertops and hardware – these are sure fire hits with your buyers.
What about wall colors? The best approach when it comes to paint for your investment flip is to play it safe! Now is not the time to unleash your fierce designer inner spirit animal. Save that for your own home.
But “safe” doesn’t mean white walls throughout either. Think neutral, and think updated. You want your flip to appeal to as many people as possible, and neutral colors are the way to achieve this. A great property new on the market should compliment many different styles and colors of furnishings, so that every potential buyer who is walking through your home for sale can imagine it being THEIR new home. Whether their aesthetic in furniture is bold and modern, or soft shabby chic, or even full-on animal print, let your color choices be a backdrop to their style.
What are good choices to achieve this? At this time, greys are very popular. And of course, there are always beige and tan shades. These are good safe neutrals. Here’s the thing about greys and tans though – Grey isn’t just grey, and tan isn’t just tan. Grey shades lean towards either blue tones, yellow tones or brown tones. And beiges and tans run either pinkish, or yellowish, and can be chalky or very easily, much too dark.
So how to choose? An important step is literally, to STEP outside of the paint store with the paint chip samples. Fluorescent store lighting is terribly deceiving. And, unless you have quite a bit of decorating experience, those pleasant colors on little chips will most often be MUCH darker appearing when they’ve covered an entire room. We all like to be original, but many paint lines these days offer “palettes” of several stylish, complementary colors. There is nothing wrong with going with these safe bets, as the manufacturer has done the work for you.
Be sure to hold the paint chips up to other things as well, like your flooring choice. Being neutrally complimentary to your flooring is a great thing. Hold a grey chip up to something blue, and something brown, this will help you see what underlying colors are in that paint. Do the same with your beiges and tans. Hold them up to a pink shade and a yellow shade, and see where in the spectrum they are. You want shades that are neither too blue or too yellow – a true neutral is a beautiful thing in an investment property.
Here’s another tip. When you find that perfect shade for one property, plan on using it again and again! This is practical, obviously, as you can use leftover materials on the next property, and it saves you going through the paint selection property time and again.