Hardwood floors are one of the best flooring options for homeowners looking to increase the resale value of their home, with hardwood typically yielding around a 75% return on investment.
When it comes down to finding the best flooring to increase home value, it all boils down to your market. Hardwood will likely give you the highest return, but laminate and luxury vinyl plank flooring also offer plenty of perks to buyers.
As CNN reported, hardwood floors can also increase home value by 3-5%. This makes them a very attractive prospect for anyone looking to sell their house in the near future. However, even if you don't plan on moving any time soon, hardwood floors may still be a good investment.
There's no consensus on an exact percentage, but many experts have said it's between 3% and 5%. So replacing carpet with hardwood flooring can definitely make a difference in your selling price. In fact, one study found that 54% of home buyers said they'd be willing to pay more—up to $2,080—for hardwood floors.
Dark stained hardwood flooring is by far the best selection when it comes to overall popularity and resale value. Some of the best darks stains for wood are espresso, dark walnut, and antique brown. These darker colors often give way to more color combinations since they do not lean towards a yellow or orange tint.
A choice of timeless hardwood floor colors
Brown Maple floors have hues of rich gold, amber and brown. Cherry floors feature a burnished auburn color that will darken over time. Hickory offers hues from lighter blonde sapwood to cocoa brown and beige heartwood. Red Oak comes in deep, salmon tones.
White oak floors have been used in homes for many years, proving they won't be going anywhere any time soon. This white oak engineered hardwood floor is a timeless option that showcases the raw beauty and graining of white oak with its light color.
The average ROI for installing hardwood floors is about 70% to 80% according to Realtor.com, with hardwood floors boosting resale value by as much as 2.5% for a strong return on investment home renovation.
Hardwood floors are one of the best flooring options for homeowners looking to increase the resale value of their home, with hardwood typically yielding around a 75% return on investment.
Dawn Wilson, Keller Williams: “Most buyers prefer hardwood. For selling purposes, it is better to have hardwood. If there is not hardwood in the home already, and it is cost prohibitive to put hardwood in, then in most cases, new carpet should be put in prior to resale. Buyers like tile flooring in the bathrooms.
Installing hardwood flooring averages between $6 and $12 per square foot. On average, wood flooring costs between $3 and $7 per square foot for materials and $3 to $5 per square foot for labor. An estimate for installation of 1000 square feet of hardwood flooring runs between $6,000 and $12,000.
With dark hardwood floors, you'll enjoy: Long-lasting color: Its color makes dark hardwood prone to absorbing sunlight, while light hardwood reflects it. Over time, you'll find that your dark flooring results in less sun damage, retaining its dark sheen for longer.
New flooring can increase the value of a home by nearly 10 to 54 percent. Potential homebuyers say that they will put in a higher offer if a home has new flooring. Potential buyers also said they would reconsider putting in an offer if the flooring is outdated, dirty, or worn.
Closure of facilities – public services, employment, amenities; if any of these services close, it could impact the value of your house as they're often appealing to buyers. Low school ratings – buyers pay to live in areas with good schools because they want their children to have access to the best education.
There is absolutely no need to change flooring from room to room. We often work with homeowners who feel the urge to pick a different flooring for every room of their home, but there is absolutely no need to do this. Your home will look best if you create one consistent look that travels from room to room.
YES! Engineered hardwood is the “real deal,” just like solid. There aren't many differences between the ROI of these two products. This product increases a home's value in a few ways: You'll recoup 70% to 80% of your investment as seen in your property values.
Prices for hardwood floors have increased anywhere from 15 to 70 percent. The increased lumber costs are due to species scarcity, fuel inflation and a lack of truck delivery. But even if you're not getting all-natural hardwood floors, you may still see a price increase.
For an example, let's go with traditional but high-quality hardwood—let's say $10 per square foot. At that price, installing hardwood floors in a 2,000 square-foot-house costs a pretty penny of $20,000.
If you're thinking about selling your home and it has hardwood flooring that's scratched and worn, you would be wise to have it refinished before listing the property. Having hardwood floors refinished can cost thousands of dollars, but it will be money well spent.
As a flooring material, bamboo has many of the same benefits and drawbacks of hardwood flooring, Like wood flooring, bamboo is an attractive natural material that generally adds real estate value to a home.
In high-traffic areas it can show wear and tear, and laminate can't be sanded or refinished for an updated appearance. Because of its lower price point, laminate also won't do much for your home's resale value.
The contrast of the simple, pale planks with darker furniture is a timeless way to not only make a room seem more spacious, but more welcoming as well. A light floor also counters any psychological effect of the dark furniture making the room seem small or crowded.
The answer is – no! The oak trim and oak flooring finish (the golden color known in the industry as “honey”) will never come back in style. Today, there are many beautiful versions of stained oak on the market that allow it to appear more contemporary and aesthetically pleasing.
Dark brown hardwood floors in particular never seem to go out of fashion, they are always trendy and still in style. There's something about the contrast between dark wood floors and bright, light walls, white kitchen cabinets, furnishing etc. that epitomize a sophisticated and upmarket style.