If you are preparing to sell your commercial building, you may be making a list of tasks that need to be completed prior to listing your property. It’s always important to complete certain tasks prior to listing your commercial building for sale. Completing these tasks can help you to maximize the value of the property and may help your property to sell faster. If your exterior paint is looking worn, faded, tired, or is starting to chip, peel, or bubble, you may wonder if you should repaint the exterior of your commercial building prior to selling it, or whether you should leave this task for the new buyer.
There are numerous reasons why you want to complete exterior painting prior to listing your commercial property for sale. Keep reading to learn more about those reasons and how it can benefit you to paint your commercial property before you list your property for sale.
Painting Your Building Helps Make a Better First Impression On Potential Buyers
One of the biggest reasons why you should consider repainting the exterior of your commercial building prior to listing it for sale is because painting the exterior of a building helps to make a better first impression on potential buyers. The first thing that people will see when they arrive to tour your listed commercial property is the exterior of your building. If the paint on the building looks aged, faded, or is peeling, it can leave buyers with a bad first impression. Unfortunately, once a bad first impression is made, it can be hard to recover, regardless of what the inside of your building looks like. As such, you want to make the best first impression you can by painting the exterior of your commercial building before selling it.
Painting Increases the Value of Your Commercial Building
The second reason why you should repaint the exterior of your commercial building before selling it is because painting can increase the value of your commercial building. According to Open Door, you can yield up to a 55% return on investment by painting the exterior of a space. This may not seem like a lot, but when you are selling a building, people try to nickel and dime you. They can offer less and justify it with the work that needs to be completed. By completing all of the work, it reduces the negotiating power a potential buyer has and helps to maximize the amount of money someone will pay for your commercial building.
Painting Allows You to Make Your Building More Neutral
One of the lesser-known reasons why you should have exterior painting completed on the exterior of your commercial building before listing it for sale is because you can help to make your commercial building more neutral. It’s not uncommon for business owners to paint their commercial buildings with their business colors, business logos, or business slogans. This is a great way to market your business and increase brand awareness for your business. But, if you are selling your commercial building, a potential buyer will not want your logos or personalized paint colors on the building. As such, you should always paint the exterior of your building if your building is unique and personalized to your business.
Exterior Painting Can Increase the Curb Appeal of Your Property
Curb appeal is extremely important for a commercial space. If a building looks worn down or run down, it can affect how potential buyers view your property, but it can also affect how potential customers, clients or even potential employees view the business. Someone who is looking to purchase a commercial building is going to consider the curb appeal of your building in the buying process. As such, you want to increase the curb appeal of the building as much as possible. This may include adding new landscaping, maintaining the landscaping, pressure washing asphalt and concrete surfaces, and painting the exterior of your commercial building.
You May Catch and Be Able to Repair Issues While Exterior Painting Is Being Completed
Exterior painting is not only done to help a building look its best. The exterior painting actually helps to protect the siding of your commercial building and keep water away from the siding. However, if the paint is cracking, peeling, or flaking, water can start to reach the siding. This can cause it to warp, split or rot. Prior to painting the exterior of your building, a professional will examine the siding of your building and determine if any repairs are needed prior to painting. This is important if you are selling your business because it allows you to catch and make repairs prior to a potential commercial building inspector finding the damage and a potential buyer walking away or renegotiating the selling price because of the damage.
Exterior Painting Makes Your Property More Move-In Ready
When you are looking to sell your commercial building, you will quickly learn there are two types of buyers. There are buyers who are looking for a move-in-ready space, and there are buyers who do not mind completing some work on their own. More buyers are looking for a move-in-ready space. You can deter buyers from your property if they think they will have to invest time, money, and effort into getting the commercial building ready to be used. By completing tasks, such as exterior painting, you can increase the potential buyer pool and help make your commercial space more move-in ready.
Painting Helps Your Commercial Space Look Well Cared For
As a potential buyer is considering your property, they may start to get scared away if they think that your building may be uncared for or unkempt. Buildings that are properly maintained and cared for tend to need fewer repairs over time compared to buildings that have not been cared for. Unfortunately, many potential buyers make this determination based solely on the types of maintenance they can see, such as paint. If your building does not look cared for, it can scare buyers away.
Painting Can Update or Modernize the Look and Feel of Your Commercial Building
The final reason why you should repaint the exterior of your commercial building prior to selling it is that you can modernize or update the look and feel of your commercial building with a fresh coat of paint. Paint color trends change over time, and if your current color is dated, it can date your commercial building. A fresh coat of paint in a more modern color can instantly update and modernize your commercial building.
If you are getting ready to put your commercial property up for sale, you may find yourself wondering if you should repair the exterior of your commercial building prior to selling it. If your commercial building has custom colors for your business, if the paint is starting to look faded or dirty, if the paint ages your building, or if the paint is starting to flake, peel, or bubble, you should have exterior painting completed prior to listing your commercial property for sale. This can help improve the curb appeal of your building, help make your building more neutral, and can even help to increase the value of your property.
Commercial painting is time-consuming and laborious and is not something you should attempt to complete on your own. Instead, you should hire a professional painting company to assist you with all of your exterior commercial painting needs. When you need exterior painting completed, let us help. Call us at Derheim Painting today to obtain an estimate.