Is a House in a Colourful Road Worth Your Investment?
Getting a home in a colourful road might be a pricey investment, but it can actually bring you a high return. Vibrant-coloured homes in bright roads get a lot of attention. They are worth higher than its comparables in a nearby colourless or ‘bland’ street.
According to a research conducted by HomeOwners Alliance and Brewers Paint using an online valuation tool based on the local and Land Registry sold data, homes in brightly coloured roads are 20% more expensive than the homes in its neighbor plain roads.
Figures show that compared to homes in roads where most properties are painted and decorated in white or rendered with pebbledash and bricks, homes in brightly-painted streets are 2% to 65% more expensive. As an example, the price of a three-bedroom home situated in the colourful Ten Bell Lane in Norwich is 65% higher than its comparable house located in Victoria Street, which is only a few steps away. At the same time, an average three-bedroom house in the brightly-coloured Dark Gate Street in Aberaeron, Wales, is about 28% more expensive than its neighbouring comparable home in Chalybeate Street.
However, according to Home Alliance’s Chief Executive, Paula Higgins, they can’t persuade everyone to have their home exterior walls painted in vibrant colours such as green, orange, and yellow just to increase the value of their street. They also want everyone to consider the fact that getting a home in a vibrant street will cost more when you can get a property of the same size at a much lesser price just a few metres away. Should you consider having your home painted in vibrant colours, it is vital to hire professional and highly-skilled painters to carry out the job for you. This way, you can ensure the success of your project and the security of your investment.
At Wallace Contracts, we can help you achieve the home colour and design of your dreams at cost-effective prices. We have a team of highly-skilled and talented painting and decorating professionals who are capable of completing the job on-time and with excellent results. Feel free to contact us at telephone number 01782 810 220 for enquiries and appointment requests.