The "Wow!" Effect - Part 3 Add Some Color

The first time we painted a rehab with something other than white, beige, or other neutral color it felt risky. However, what we found was that color creates a "Wow!" when used the right way in coordination with the other elements of the house. We do however stick to very basic and complementary colors that seem to be everywhere (and popular) these days. The good news is the paint department at Lowes and Home Depot has already figured out what colors fit together with all those color strips. We do not cheap out on the paint quality and usually $5/gal makes a big difference in how the paint spreads and covers. The last rehab we used 24 gallons of interior paint which equals a difference of $120 more than the cheap stuff - I highly recommend you do the same, it'll pay off.

The Valspar website has a pretty cool on-line digital painter program that can be a great starting point when considering colors. When the Palette is displayed select "Modify Palette " and then the "Our Suggestions" Tab. The screen shots to the right should help.

We use no more than 3 colors per house with gloss white one of the colors for the baseboards, trim and doors.   We usually use a neutral color in the larger rooms like living rooms and colors in the bedrooms and kitchens.  We do not get too crazy with multiple colors in the same room.  If you are uncertain what to do in a room use the neutral color and remember if the color does not fit with the flooring, cabinets, etc. don't force it.

We are creatures of habit and when something works we do it over and and over.  Every once in a while we'll try something new but for the most part stick to the same colors.  Here's some examples of the colors we've used.

Kitchen rehab - We refaced the cabinetsand installed granite, added a piece of trim to the plant shelf and painted it white, nice green on the walls, faux stainless applicance package from Lowes, and last the cool lights rather than the old track lights.  Tile floors came with the house.

Bedroom Rehab - They had an ugly peach color and had cut a hole in the wall to the closet for something? We added hardwood floors (bamboo our favorite), gloss white on the trim and doors, patched the hole in the closet and replaced the shelving, and took a chance with the yellow. We also painted the adjacent bathroom the same yellow color. The windows were also trimmed out and painted gloss white. In the end the room popped and had a nice clean modern look to it.

 

One of the neutral colors we use extensively is made by Valspar as part of the Earth Elements collection.  It creates a nice contrast to wood floors and white woodwork.

Jan and I discuss the colors all the time and when we can't agree I usually give into her. Remember men are color blind.

Good luck in rehab!

The "Wow!" Effect - Part 1 Creating It

In a rehab in every encounter, appearance creates the first impression. When a real estate rehab is sharp and distinctive, it evokes a pleasant first impression that can be best translated into “Wow!”.

When looking at real estate and trying to determine what to update one of the key considerations is how to create the "Wow!" effect from the time the potential buyer pulls in the driveway to looking at the back porch. Most people associate the "Wow!" effect to kitchens and baths or flooring but we believe it covers the gamut. In effect the rehabbed house should fit together and not appear cobbled together or half done. The potential buyer should feel as though there is little to nothing they will have to do to move in. They can always debate what you may have done but they should not debate they have to undo it!

What that said we also consider the typical demographic of the potential buyer when creating the "Wow!" effect. For example, retirees have very different needs and ideas than a family with 3 kids. Retirees, especially from up north, will be looking for the "Florida" lifestyle. They need enough room to have the grand kids once a year and not too much room to maintain. They are not our parents parents and look increasingly more for a "Wow!" look and feel at an affordable price. A family with three kids looks for almost the exact opposite. A room for each kid, a large family room, pool for the kids and big yard. The point is to know who your ideal buyer is before you rehab the house so you can target the "Wow!" to your ideal buyer. This can only increase your chances of a quick sell.

When rehabbing a house we are constantly looking for the "Wow!" effect as a potential buyer would walk through the home when it's complete. We actually visualize and discuss what a buyer may be feeling from the moment they walk into the home to walking the entire floor plan. We also try to create a differentiation with the rehab compared to the other houses in the neighborhood. So when a buyer starts to compare our house with the rest of the neighborhood there is a clear difference in a positive way. So when all things considered the buyer will want the rehabbed house due to the differences since the price difference is minimal. Using this strategy we've been able to obtain a higher per square price than most of the comparable properties.

A key component to the “Wow!” effect is the creation of visual focal points. Visual focal points are used to highlight design, space, or feature aspects by making them stand out. This can be accomplished either through the nature of the feature itself or by bringing attention to the feature. An example of this would be to trim out an existing plant shelf and then possibly put an item on the shelf that draws your eyes to the feature. The cost to do this is very low and the return high. You could also add color to the room and paint the trim a different color in effect adding contrast and creating a visual focal point.  Visual focal points are also very powerful in making buyers not look at things because they are focused away from them.

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