The Impact of Flooring on Your Property Value
Searching for the ideal home on the market is a troublesome feat. Attempting to sell your house may be even more challenging; from its age, foundation, plumbing, insolation, and amenities, infinite attributes could decrease or increase a home’s property value.
Though often overlooked, having quality flooring could be a deciding factor in the potential purchase of your home. But how much does refurbished, expensive, or high-grade flooring actually increase one’s property value? Here is everything you need to know about the impact flooring has on your home’s worth on the market.
New Flooring
As a homeowner, it’s easy to locate other areas of your home for reconstruction. Making over the kitchen or the bathroom are typical projects that many sellers latch onto to increase their potential offers, but those spots shouldn’t be the primary places to examine.
Like it or not, buyers will be checking out your floors, and installing new floors will ultimately get you in a beneficial position for desirable offers. People looking into your home will want to know what kind of floors you have when installed and how easy it is to maintain them.
Homeowners who’ve sold houses with new flooring experience a 70% on their ROI (return on investment). Up-to-date floor installations are essential for better profit, but it mostly depends on what types of panels you’re installing. To sell your home, check on what flooring you’ll need to replace and what planks are the best, economical option for each room.
Hardwood Floors
The next part of your property value quest will be to identify what type of floors you have and which you’d like to install. For most, hardwood floors are a coveted asset to an apartment or house, but does hardwood always increase a home’s value?
The simple answer is yes, wood flooring is exceptional for selling a home, but it’s not just for its stunning appearance. Hardwood is the most durable flooring material, so new owners won’t have to reinstall or refurbish it constantly. To increase property value, ensure places with high foot traffic, like kitchens and living rooms, have quality wood panels.
Hardwood floors are also great for buyers who don’t want to clean incessantly. Wood is easily cleaned by sweeping or mopping and is more challenging to stain than carpeting. Just be on the lookout for scratches on your flooring, but other than that, laying down hardwood will sustain itself longer than most other materials.
Though hardwood may seem like a simple solution for better property value, pay attention to which rooms you want to redesign. Wood’s primary opponent is moisture, so applying this material to bathrooms or laundry rooms could deteriorate the flooring quickly. Authentic wood is susceptible to rot, so make sure you’re installing hardwood in areas that don’t have excessive humidity.
Hardwood may also be a poor choice for homes in warmer, moist climates. As stated previously, the quality of your panels can decline if there’s too much humidity in the room. An awareness of your general climate will help you make beneficial choices for revamping your home to increase its property value.
Laminate Floors
Just because hardwood is the most impressive and aesthetic flooring doesn’t mean that other types of flooring won’t help your home’s value increase. Laminate floors are an excellent, versatile choice for various rooms in the house while being a good solution to hardwood’s limitations.
Unlike wood, laminate can hold up better in moisture-prone areas like bathrooms or mud rooms. These floors are comparable in durability and have styles that resemble hardwood’s classic and rustic appearance. Laminate flooring is also less expensive than wood, so if you’re flipping your house on a budget, these panels are cheaper and more effective.
Though hardwood won’t give you as high of an ROI, replacing rotting or unstable panels with laminate will be favorable for your home’s value. Choosing new flooring, regardless of type, will ultimately help bolster the overall desirability of your house and will aid in its expeditious sale on the market.
Vinyl Plank
Vinyl can also be a great alternative to hardwood because of its sleek look and cost-efficiency, but will it benefit your property value?
Replacing old floors with vinyl will help your pocket since vinyl is cheaper and highly durable. This material is water-resistant, so applying these panels to bathroom floors is an exceptional plan for your home and wallet.
Some buyers will unfortunately notice vinyl flooring instantly since they can’t disguise themselves as wooden planks. Still, purchasing quality vinyl flooring will increase your property value for specific rooms or rotting, old planks that must be disposed of.
Carpet
Carpet is the least desirable for buyers wanting a new, refurbished home. Many of us can feel the disgust at seeing wall-to-wall carpeting in high-foot-traffic rooms like living rooms and dining rooms, but that doesn’t mean that rugs are a deal breaker.
If your home has wall-to-wall carpeting, make sure that it’s cleaned and pristine before inviting potential buyers to see the property. Spotless, beautiful carpeting can attract buyers, but purchasing new floors should be reserved for cheaper, easier-to-clean options like vinyl or laminate.