If your old floors are in bad shape, any new flooring will help. While solid hardwood flooring would add more value, laminate will give your home the look of hardwood at a much lower cost, will look good for years, and your return on investment should be solid.
The best flooring for resale value: The ROI on wood floors
They're durable, versatile, and most buyers love them. According to real estate experts, the average ROI for installing hardwood floors is about 70% to 80%, and wood floors can boost the sales price of your home as much as 2.5%.
Tile flooring is highly durable and can last for 100 years when properly maintained, making it an attractive option for potential buyers. For that reason, it tends to increase the resale value of a home much more than laminate flooring.
After all, your home could have many other beautiful key features that sell it. What you should keep in mind is that today's average buyer prefers hard surfaces throughout the home, over carpeting. If you need to replace carpeting, vinyl/wood laminate is also the best choice if you're on a budget.
Even so, vinyl flooring generally will bring in a lower resale value than laminate flooring. High-quality laminate floor ranks below solid hardwood and engineered wood for resale value. But laminate flooring still commands a higher resale value than most types of vinyl flooring.
While luxury vinyl flooring has come a long way from its creation and has increased in durability and visual appeal, unfortunately vinyl may decrease your resale value in the long run. It's important to recognize that while you may spend less on vinyl vs.
LVP flooring is waterproof, less expensive, and faster and easier to install than wood or tile. Even the high-end residential market discovered LVP floors last year. It works in wet areas such as bathrooms and laundry rooms as well as living rooms, kitchens, dining rooms, and anywhere in the house except for stairs.
Colonial. Colonial-style homes have the highest resale factor when all other elements are equal.
Living on a higher floor has its advantages. You get better views of your locality, better light and ventilation, and there is lower impact of street-level disturbances compared to those on the ground and lower floors. Higher floors are also usually free from the menace of mosquitoes and rodents (mainly rats).
If your old floors are in bad shape, any new flooring will help. While solid hardwood flooring would add more value, laminate will give your home the look of hardwood at a much lower cost, will look good for years, and your return on investment should be solid.
Affordability. For homeowners who want durable and attractive flooring, laminate flooring is a great and affordable option. The cost of laminate flooring varies depending on factors like the quality of the material, the brand and the location. It is also significantly less expensive than hardwood flooring.
However, in recent times, laminate flooring has been experiencing a significant resurgence in popularity. With advancements in technology and a renewed focus on sustainable options, laminate flooring is making a comeback in 2023.
For example, if your home is valued at $500,000, installing hardwood floors could increase its value by $15,000 to $25,000, providing a substantial return on investment. One of the reasons hardwood floors are so popular is that they are easy to care for.
Dark colored hardwood floors are highly sought after by home buyers because they match modern styles. Lighter hardwood floors don't have that same appeal to many buyers, but buying quality hardwood can help.
“Buyers like carpet in bedrooms, especially in basement bedrooms, for comfort and warmth.” Carpet is also much quieter to walk on than other types of flooring and can help absorb noise. It can mask sounds, such as footsteps and squeaky floors, Fisher adds.
Mouldings and other floor accessories can make the floor look expensive with an inexpensive price tag, which is a great option to achieve a “luxurious” look and atmosphere without spending a fortune.
Carpet. Carpet is a classic choice and has been used in homes for decades. It is comfortable and typically easy to install. One of the biggest advantages of carpet is there are more colors and textures than any other type of home flooring.
Best Floor to Live On In an Apartment Bottom Line
For most people, the best floor to live in an apartment building is the top floor as it is more private, gets more light, and has better views. However, some people might prefer to live on a middle floor or lower floor, depending on their personal preferences and needs.
Property valuation primarily takes into account recent sales of comparable properties in the area. Key identifying factors are the same square footage, number of bedrooms and lot size, among other details.
Homes are valued and priced by the livable square feet they contain, and the more livable square feet, the better, says Benjamin Ross, a Realtor and real estate investor based in Corpus Christi, Texas. As a result, adding a bathroom, a great room or another needed space to a home can increase function and add value.
Vinyl flooring is more water-resistant than laminate.
In fact, all types of vinyl flooring are considered waterproof because sheet vinyl, LVT, and LVP are made with materials that are 100% waterproof. However, seams between planks and tiles can allow water to reach the subflooring if enough liquid is present.
Vinyl plank flooring has a few potential downsides. Firstly, it can be difficult to install and may require professional help. Secondly, vinyl plank flooring is not as durable as other types of flooring such as hardwood or tile.
Most would argue that luxury vinyl plank flooring is a better choice in terms of durability. Vinyl plank flooring is usually both water resistant and scratch resistant. Especially the high quality options.