Best Floors For Increasing Home Resale Value
Sep 06, 2018
Whether you’re planning to put your home on the market in the next year, or planning to relocate in the next few years, now is the time to start planning what updates or remodels would be beneficial for increasing your home value. The only thing worse than remodeling your home and not being able to enjoy your improvements before moving is pouring money and sweat into your remodel only for it to not increase your home value and or give you a return on your investment. To make sure that your flooring renovation pays off, read on to learn what the best floors are for increasing the value of your home.
How to Determine the Best Floors to Increase Your Home’s Value
With today’s housing marketing on fire, houses are being purchased almost immediately, with offers sometimes coming in on the 1st day of listing. Buyers, especially Millennials, want a home that’s move-in ready. They want a home that doesn’t need a kitchen overhaul or new floors, and they will most likely be willing to pay over the asking price if they love what they see. A majority of buyers will.
With this in mind, the most important floors to replace are those that are damaged and show wear and tear. It could be the stained and frayed carpet in your living room, or the warped and outdated vinyl in your bathroom. Focus on these floors first, but keep in mind that carpet will not increase your home’s value, so consider hardwood or another hard surface in the bedroom or living room.
Once you’ve addressed the floors that are in immediate need, we recommend replacing the floors in your kitchen and bathrooms, as these rooms, especially your kitchen, will give you an immediate return on your investment. There’s nothing less appealing than an outdated kitchen or bathroom, so give these rooms an overhaul and a little TLC.
Cost vs. Value of New Floors
While hardwood costs more than carpet does, hardwood will last a substantially longer time than carpet. Whereas carpet should be replaced every 10 to 15 years, hardwood floors can last a lifetime if they are properly maintained.
What Type of Flooring Will Give You the Best Return on Investment?
Hard surface flooring will give you the best return on investment, or ROI. Hardwood will be your best bet with the highest ROI since it’s the long-standing preferred flooring choice. If you currently have hardwood floors, consider refinishing them if they need a little pick me up. Refinishing hardwood isn’t as expensive as most think, so the refresh is an easy way to increase your home’s value.
Hardwood is a classic, timeless flooring option that only increases the value of your home, so if you can go this route, go for it. If not, engineered hardwood is another great option, due in part to its added durability.
To get more information on what type of flooring will work best in your home, visit our flooring page and browse our flooring options!