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.
Maintenance: Laminate is durable and easy to maintain, while carpet can be prone to stains in high traffic areas. However, there are many stain resistant and extremely durable carpets that are fabulous for living rooms, hallways and stairs.
"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.
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.
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.
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!
Bottom Line. Laminate flooring, in good condition, improves the value of the home over traditional wall-to-wall carpeting. However, hardwood floors are still more valuable to potential buyers than laminate flooring.
While the up-front cost of carpet might be tempting, over time laminate flooring is cheaper than carpet. Laminate flooring is made to last and is nearly double the lifespan of an average carpet. Flooring is considered an investment, as it really becomes a permanent fixture in your home.
The cost of carpet is generally much cheaper than the cost of laminate flooring, but laminate flooring has the advantage of being longer-lasting, easier to clean, and less likely to suffer weather damage.
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.
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.
Laminate flooring is considered more hygienic and hypoallergenic than carpet, as it is easily cleaned, and dirt won't go unnoticed. Carpet tends to retain dust and pollen, stain more easily, and build up mold and mildew when exposed to moisture, making it a less desirable option for those who struggle with allergies.
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.
There's no denying, laminate is a temperature-absorbent material, and it can sometimes feel a little cool underfoot. This is particularly true during the winter months, when cold air is more likely to seep through from the subfloor.
Cost is comparable when weighing vinyl vs. carpet. Carpet costs on average $3-4 per square foot, but has been known to increase to $4.50-5.50 per square foot when installation is factored in. Luxury vinyl can be priced from $2-$5 per square foot including the cost of installation for commercial products.
You should also keep in mind that vinyl plank and tile flooring might not increase the value of your home as much as laminate flooring. However, vinyl flooring can still make all the difference in how long your floors will last, which could be vital as we head into a more competitive real estate market.
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.
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.
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.
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.
The top five improvements that can generate the highest return on your investment: Renovating the kitchen. Renovating the bathroom. Repainting the interior and exterior.