"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.
HomeAdvisor.com notes that new carpet in general tends not to affect resale value either way (compared to hardwood, for which 54% of buyers in one study were willing to pay $2,080 more). But stained or outdated carpeting doesn't do you any favors.
Considering homeowners usually spend about 13 years in their homes, and most carpet is only designed to last between 5-15 years, however, it's common to replace carpet flooring before selling. If your carpet looks worn down, shows signs of damage, or is stained, it's probably best to swap it out to avoid red flags.
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.
If the current flooring of the home is in disarray or damaged, replacing it with laminate will increase the home value. However, if the carpet or hardwood is in relatively good condition, it is not advisable to replace the flooring with laminate as this would not significantly improve the asking price.
"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.
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.
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!
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.
Though hardwood is incredibly popular, carpeting is making a comeback, in part due to the innovative new options on the market. Carpet is a great choice for bedrooms, dens, or basements where hardwood can feel too cold and sterile, or any room where there is a risk of water damage.
Carpet fibers often become matted and frayed within just 3-5 years. A carpet can only be expected to last 5-15 years from installation, so if your carpet it starting to look a little beat-up then it's probably time to replace it. Areas that see the most wear and tear are usually the hallways, stairs, and living areas.
Now most appraisers caution that you don't need to deep clean under couches, a few dirty dishes aren't going to hurt your value. However things like stained carpeting, marks on the walls, things like that can affect the value and are part of the overall condition rating.
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 vs Hardwood Cost
Installing hardwood floors can cost between $12 and $20 per square foot installed, while carpet often cost about $6 to $12 per square foot installed. However, choosing engineered hardwood flooring can be dramatically less expensive than solid hardwood floors.
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.
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.
Carpeting is a poor choice in any room that frequently sees water, food remnants, or dirt. These elements will quickly damage carpet. These rooms include but are not limited to, kitchens, bathrooms, entryways, mudrooms, and laundry rooms. Kitchens are a poor choice to install carpeting because of food, dirt, and water.
Today, carpet is often seen as outdated, dingy, and even unsanitary, trapping pests, dust, and moisture deep below the surface.
Even though it's not true hardwood, buyers will still appreciate the aesthetics and feel of these durable floors. This is what buyers really care about at the end of the day. So yes, installing new vinyl flooring in your home will raise your property value.
They say that the three most important things to think about when buying are home are location, location, location. You can live with almost any imperfection in a home if you love the neighborhood and your neighbors. You can change almost everything else. But, once bought, you cannot change your home's location.
Factors that make a home unsellable "are the ones that cannot be changed: location, low ceilings, difficult floor plan that cannot be easily modified, poor architecture," Robin Kencel of The Robin Kencel Group at Compass in Connecticut, who sells homes between $500,000 and $28 million, told Business Insider.
In general, carpet that is more than 20 years old should be replaced. Dust, dirt and debris build up in the fibers and underneath the carpet, even if it is maintained regularly. This can lead to allergy problems and odors. By the time a carpet reaches 30 years old, it usually is worn and stained.
Mold will often grow under the carpet or within the carpet padding, making it difficult to diagnose. If there was a recent spill or flooding, then there is a high risk of mold growth. Mold can also grow in homes and rooms that experience high humidity.