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Everything You Need to Know About Painting an Investment Property

By Regina Gables | October 24, 2023

Slapping on a new layer of paint can seriously crank up the value of your real estate investment. Painting not only makes your property look better, but it can also increase its value a lot. Whether you're looking to jazz up your space indoors or give the outside a fresh look, slapping on some paint is an affordable way to make your property pop. Let's explore everything you need to know about painting an investment property.

The Magic of Interior Painting

There's a good reason why giving the inside of your house a fresh coat of paint is often hailed as one of the best remodeling moves. According to Opendoor, painting the interior boasts an impressive 107% ROI, making it a lucrative investment. When picking out paint for the inside, using neutral hues is smart. Neutral colors could grab the attention of a wider range of folks looking to buy a house. Using neutral colors lets potential buyers imagine their stuff in the space, like a blank slate ready for their personal touch. Ensure the walls are free from any imperfections and blemishes before painting.

Exterior Painting: Curb Appeal Galore

While interior painting is vital, the exterior of your property is equally crucial. The first impression your property creates is often from its exterior appearance. A fresh paint job outside can spruce up your place's curb appeal. A fresh coat of paint outside your house can get your money back and then some when it comes time to sell, so it's worth considering. Choose paint colors that vibe well with your home's design and natural environment. Use exterior-grade paint that will hold up against the weather.

Choosing the Right Paint and Supplies

Selecting the right paint and supplies is key when painting your investment property. Pro Paint Corner says the choices can be overwhelming, with an estimated 1.4 billion gallons of paint used in 2019 alone. Think about where your property is, the weather it gets, and how you want it to look when picking out paint. Even though you're shelling out more cash upfront for quality paints, they give better coverage and durability along with that professional finish we all want. Don't skimp on top-notch brushes and rollers. They're key to a slick, quick paint job.

Safety First: Avoiding Painting Hazards

While painting can significantly enhance your property's value, it's essential to prioritize safety during the process. Mishaps with scaffolding are a frequent headache in the building sector, causing hefty financial hits. According to Enjuris, American employers lose approximately millions yearly due to these accidents. Ensure you follow safety protocols and use stable scaffolding. But make sure you work where there's good airflow. When working up high, ensure you're careful and do what it takes to avoid mishaps or injuries.

Professional vs. DIY Painting

Deciding whether to hire professionals or embark on a DIY painting project is crucial. While DIY painting may seem cost-effective initially, it requires ample time, effort, and expertise. Painting intricate areas, dealing with uneven surfaces, and ensuring an impeccable finish can be challenging for novice painters. Professionals, on the other hand, bring experience and efficiency to the table.

Costs and Budgeting

Before initiating any painting project, it's essential to establish a clear budget and understand the associated costs. Don't forget to tally up the price of paints, gear, and hired help so you have a solid budget. Factor in any unforeseen expenses that may arise during the process. With a solid budget, you can run your paint job smoothly and dodge any unexpected hassles.

Sprucing up your property with a fresh coat of paint can boost its value and make it look attractive to renters and buyers alike. You can turn your property gig into a cash magnet by shelling out for top-notch stuff and maybe getting a pro's help. So grab those paintbrushes, choose some awesome colors, and see how a fresh coat of paint makes your place look brand new and amazing.

Regina Gables is a Realty Biz News Contributor and a freelance writer. With a background in Journalism, she enjoyswriting on real estate topics such as home buying, real estate technology and opinionated editorials.
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