On the outside

First, let’s consider the psychology of color as it applies to the exterior of a home. Color choices send out signals to prospective buyers and renters, which is why we need to pay attention to color when we are remodeling, installing a sidewalk, or putting on a roof. If, for example, you replace a sidewalk, consider not only the design and function, but how the color will affect the property as a whole.

Color can affect our mood. For instance, yellow is a color of joy and happiness, but it is also the color of caution and deceit. The sight of yellow flowers sends our subconscious a message that we need to be cautious. With this in mind, avoid using yellow flowers and decorations on the exterior of the home where people get their first impression of the property. This phenomenon seems to prevail most in small quantities, which researchers think is related to a yellow traffic light, whereas a house painted entirely in yellow does not necessarily have negative connotations.

If the exterior of the house is undergoing improvements and will be painted or have new siding installed, it doesn’t cost any more to choose colors that complement rather than clash. It is the details that make the difference. If you’re replacing a roof, you’ll probably be replacing the gutters as well. Gutters are made in approximately 24 different colors that are standard; you can choose from those standard colors without increasing the cost of the project.

There are also the shutters and the front door to consider. Careful selections can set a house off and make it shine without additional costs. If you are not planning to replace the front door, a paint job is inexpensive and will make a huge difference. The last main exterior component is landscaping. Since an entire article (or book) could be devoted to this topic, it will suffice to say that you must consider the landscaping when choosing your colors. Your plant materials should have colors that work with the rest of the home.

On the inside

Now let’s turn our attention to the interior. Many so-called real estate experts advise neutral colors throughout inside. While this is fine to a certain extent—you want potential buyers to be able to see their own belongings fitting in the rooms without clashing—too much neutrality can leave a prospective buyer or renter rushing to escape a drab-looking house. Use neutral colors for most of the interior, but add color or texture for some visual interest. You don’t want prospective buyers or renters to be bored by the time they’ve seen the third or fourth bedroom and find that it looks exactly the same as the first.

Some affordable techniques to create a break in the neutrality without being jarring include installing inexpensive window coverings, painting trim and baseboards different colors, or installing colored carpet.

You want the bathrooms and kitchens to stand out and make a positive impression as well. Permanent fixtures (sinks, tubs, shower stalls, commodes) should be a neutral color. Accent with mirror frames, window treatments, or other decorations. As long as you do not choose a fad color that will date your rooms, you can put some color in your countertops. The family room carpet and a few select walls can also make some color statements, if the color is chosen carefully. An accent wall is easy to change and can potentially affect the entire flavor of the house.

If interior decorating is not your thing, don’t worry. Paint specialty stores and home supply stores hire recent interior design graduates who will help you free of charge; all you have to do is ask. These stores typically have photo samples and even computer programs that allow you to plug in different colors to see how they go together. Just remember the power and affordability of color as a tool to sell and rent your properties.

Mark Gilliland is a real estate mentor for Wealth Intelligence Academy® and has a B.A. in Interior Design from KSU.