Is House Painting a Capital Improvement?

Out of all the options you have when it comes to revitalizing your home, getting your house painted is by far the most effective way. Yes, you can change the furniture, remodel, do some landscaping, or buy something new, but they don’t have that sense of permanency or value for money like a painted wall.

Owners and house painters in San Diego all agree that one of the best ways to improve the value of your house, especially if you’re looking to sell, is with a fresh coat of paint. Not remodeling, not flooring, but paint.

It’s like giving your house new clothes to wear.

However, there are many that argue that repainting your house isn’t a capital investment and doesn’t (or shouldn’t) increase the value of your house. In short, they suggest that repainting isn’t a capital investment.

That is the question we’re going to look into in this article and whether painters in San Diego have a point about it being a capital improvement or are they simply trying to sell their services.

What Is a Capital Improvement?

For any investment to classify as a capital improvement; hiring house painters in San Diego in this example, the result should be able to increase the value of your asset (house) or prolong its usable life.

It’s not just about the aesthetics, but mostly about the price and life of your house. The improvement must be permanent in such a way that removal of said improvement will damage the house permanently. By definition, capital improvements include addition of something material such as an extra room, patio, or more.

House painting doesn’t count because it is more of a maintenance task. Without it, the life of your house will decrease but by getting the house painted, it won’t necessarily increase.

Let’s Do Some Math

The average cost of getting your house repainted is $40-$45 an hour, apart from material costs. Some painters also charge based on per square-meter basis, which costs $15-$40 depending on the type and condition of the wall. Exterior painting services cost more than interior house painting in San Diego, other than repairs.

Depending on how large your home is, the price can increase, but the million dollar question remains, will it increase your house’s selling price?

According to many real estate moguls and agents alike, repainting your house makes it feel cleaner and gives it a better aesthetic appeal. This, in turn, increases the chances of you being able to sell your house. As more people like your house, the demand increases.

As demand increases, you have the luxury of increasing the sale price. For every dollar spent on hiring painters in San Diego, homeowners get to increase $2.5 to $4 – and even more in some cases – in the asking price.

This shows that house painting isn’t necessarily a capital improvement, but is definitely one that can increase the selling price of your home. If you’d like to do the same, regardless of whether you’re looking to sell or think it’s due, get in touch! Get a free estimate today and get expert house painters in San Diego at your doorstep in no time!