HOW TO CHOOSE EXTERIOR PAINT COLORS

WHY YOU SHOULD REPAINT

Over time, multifamily apartment buildings will show the natural wear and tear of weather and age. The first step you need to complete is choosing the right color for your asset!

A fresh coat of paint may:

Increase curb appeal
Drive prospective renters to the community, filling any vacancies
Keep the current renter population longer
Increase property value
Make your asset stand out from competitors!

There are a variety of factors to take into consideration when choosing the perfect exterior paint colors for your multifamily asset.

NEIGHBORHOOD AND REGION

Touring the immediate neighborhood, along with the general region can help when researching new exterior paint colors. Make sure to pick colors that will complement any surrounding buildings as well.

Across the United States, neutral colors tend to do very well as they blend well with stone, wood, and other natural building materials. There are some distinct regional preferences which you will easily be able to point out during your field research.

Southwestern colors are typically earthy as they pair well with the adobe, wood and other regional influences.

Southeastern colors are conventionally dictated by the ocean and tend to be crisp and clean.

Northwest colors are derived from the forests, mountains, and lakes. Think of grays, blues, and greens.

Northeastern colors are more traditional typically, and generate from nature and coastlines.

ARCHITECTURE

It is important to take into consideration the size of the community and the individual buildings when choosing paint colors. Style and existing materials will also dictate color schemes. Sometimes it is helpful to start with the roof color and create a palette from that.

If the buildings are rather large, you may want to break up the façade with two different colors allowing for some dimension. A perfect example would be the exterior repaint at Vista Ventana in El Paso, TX.

Aside from the fact that the buildings now have more dimension to them, they stand out against the mountain backdrop and have attracted renters! Vista Ventana is currently at 100% occupancy, when approximately one year ago it was at 70% and we attribute the change in exterior color as one of the main factors.

TARGET MARKET

The type of prospective resident can be a big determining factor.

The color(s) need to be an attractive feature of the community, bringing in the right new renters. Brighter colors are known to be attractive for millennials whereas a sophisticated color palette is ideal for a more upscale tenant.

HOW TO CHOOSE EXTERIOR PAINT COLORS