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.
Conclusion. 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.
Quality, well-maintained carpet can last about 10 to 15 years, but typically needs to be replaced if it becomes worn out or stained. Conversely, hardwood flooring can withstand significantly more wear, tear and spills without needing to be replaced. Good quality hardwood floors can last a lifetime when well maintained.
While hardwood floors add the most value to a home, that's not to say all buyers will lose interest if they aren't in your home. As long as there is a consistent flow of hard surfaces (not too much mixing, and no nasty carpeting), there's still a great chance at getting the most value out of your sale.
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.
"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.
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.
Most homeowners find about a seventy percent ROI on new floors when they go to sell their house. So the short answer is yes. New floors can add a lot of value to your home if done right.
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.
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!
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.
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.
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.
80% of estate agents surveyed by the National Wood Flooring Association agree that installing wood floors increases home value by 1% – 10%.
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.
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.
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.
The national average cost to install hardwood flooring is $6 to $12 per square foot for both labor and material fees. For higher-end wood and larger spaces, like if you're redoing your entire first floor in hardwood, you may pay more—possibly between $13 and $25 per square foot.
When calculating how much it costs to refloor a house with vinyl or linoleum, homeowners can expect to pay between $3 and $10 per square foot. Better quality products like luxury vinyl will be at the top of this price range.
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.
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.
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.
Hardwood is known for being much cleaner than carpet as it doesn't collect all of the dust and dirt beneath the surface. Despite best efforts, carpeting is never perfectly clean. Well maintained hardwood flooring can last decades!