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.
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.
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.
But do they increase your home's value? Yes, they can. If your current floors are old and falling apart, then almost any flooring is going to increase its value. However, in general, laminate floorings are not going to give you as high an ROI as hardwoods.
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.
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.
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 Potential buyers also said they would reconsider putting in an offer if the flooring is outdated, dirty, or worn.
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.
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.
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.
New flooring can add a ton of perceived value, encourage higher offers, and even make a home sell faster, but it may not add dollars to your appraisal. Buyers may like the updated flooring and offer more as a result, but don't expect a higher appraised value.
Carpet In The City
Chiaramonte says that some buyers still prefer soft flooring for bedrooms. However, they usually avoid carpeting the entire room. “It's far easier to redo or change the feeling in a room by purchasing a new rug!
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.
Replacing your old flooring before selling will improve the look of your home, but also increase its resale value. Before you install new flooring, you should make sure that your old flooring is thoroughly removed to make a clean slate.
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.
Replace a Carpet with Hardwood Flooring
Labor rates total $4.25 to $9.25 per square foot to remove the old carpet and replace it with hardwood flooring. Adding on to your cost to install hardwood flooring is another $3 to $14 per square foot for the wood too.
"Having brand new, fresh carpet increases the value of the home because it is the main focal point of the room (along with the paint) that buyers see when they tour a property," explains Samuel.
While it's hard to say exactly what flooring (other than hardwood) will add the most value to a home, it's clear that buyers prefer hard surfaces over carpeting.
It is perfectly acceptable to use multiple styles of flooring throughout your home from room to room. Typically, living rooms and bedrooms are carpeted from wall to wall. But, you can successfully enjoy bedrooms with floors that are different from common areas and other rooms.
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.
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.