According to Professional Builder, the ROI for hardwood floors lands somewhere between 70% and 80%. That means if you spend $20,000 on hardwood floors (2,000 square feet at $10 per square foot), you can expect to see between $14,000 and $16,000 reflected in the sale price of your home.
Hardwood Flooring Increases Home Value: Installing hardwood floors can be an excellent way to increase the value of your home when you're ready to sell. Many buyers are attracted to this type of flooring because they know they won't need to spend extra money on repairs or replacements down the road.
You may have already guessed it, but the floor with the highest resale value is hardwood. Since hardwood is always in demand, it is an easy choice to up level your home.
Are you looking for the best ways to increase the overall value of your home that gets you the most bang for the buck? 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.
Value from a Real-Estate Perspective
According to the National Wood Flooring Association, 99% of real estate agents say homes with hardwood are easier to sell, with 90% saying they sell for more money.
It's a smart idea; hardwood flooring is preferred by home buyers and renters across the United States so it could improve the resale value of your home when it comes time to sell.. But consider all your options carefully. Here's more about flooring made from hardwood and why you might prefer it to wall-to-wall carpet.
Return on Investment (ROI)
Hardwood floors are mainly seen as upscale and possess features home buyers frequently look for. For this reason, you can expect up to 80% ROI and a 2.5% increase in home market value after installation. Hardwood flooring can last for decades when they are correctly cared for.
“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.
You can expect to see between a 70-80% ROI on your hardwood floors, but the best ROI comes as you enjoy the low-cost upkeep of the floors. If you're looking for a great way to increase your home value before a sale, hardwood flooring may not be the best way to go.
Lighter colors help brighten up a room, making it feel bigger. The amount of natural light in the room: If you love natural light, and your home gets plenty of it, you may want to opt for a darker wood floor as it tends to fade less quickly than lighter flooring options.
No. 1 Common Grade – Characterized by prominent color variation as well as prominent (but limited in size) character marks such as knots and open checks, as well as variations resulting from drying and machining processes. This grade results in a tasteful floor where prominent variation is to be expected.
Greige and white oak are two of the most popular choices for hardwood flooring when it comes to house resale. They provide timeless elegance and neutrality, making them ideal for any home.
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.
You may love the look of your hardwood flooring, but it's really not a good idea to put it in your laundry room. Foyer– All manner of things can be tracked in from outside, and the foyer of your home will bear the brunt of all of them. Sand, dirt, mud, water, snow, and more can all damage hardwood.
The average cost for installing hardwood floors is around $4-$6 per square foot. But, doing so can increase home value by 3%-5% on average, making it a wise investment for those looking to sell.
Hardwood flooring is tough and durable, especially certain species. Most homeowners only purchase wood flooring once for their home because hardwood flooring is so durable. Many home's wood floors last so long because they can be refinished, unlike carpet or laminate.
Hardwood flooring can last a lifetime, but the glossy shine of original wood flooring will fade over the course of its life. You'll notice fading after about 25 years. Hardwood floors, if installed properly, can last 100 years.
With regular wear and tear, the finish on your hardwood floor should last about 7-10 years. Floors in high-traffic areas or that are exposed to a lot of sunlight may need to be refinished more often. So if we do some quick math, your hardwood floors will last up to 60 years with being refinished every ten years!
Hardwood is the only floor covering that boasts the ability to wear a layer off the top and start anew. With the right professional team in place, it is cheaper to refinish hardwood floors than to replace with laminate or hardwood anew.
Hardwood floors were the norm in most homes before WWII. The design of the home didn't matter—Victorian, Colonial, Cape Cod, Tudor, Craftsman, and even early Ranches—they all featured wood floors throughout. Then starting in the 1950s, homeowners started to favor wall-to-wall carpet instead.
Wood flooring is sturdy and more durable. Carpet has a lifespan of 5 to 15 years, depending on the type of carpet, the fibers, and level of wear and tear. Ideally, you'll want to replace or remove carpet after seven years. Hardwood floors can last decades when properly installed and maintained.
Go Neutral
Choose between cream, tan, beige, or caramel so it's neutral. Although it's tempting, avoid white as potential buyers may worry about keeping the carpet clean. Light-colored carpet makes rooms look bigger which is a major plus.
Best for Water and Heat Resistance: Laminate
Laminate flooring is marginally better for humid locations, such as installation against concrete slabs. Laminate flooring also has some advantages over hardwood when it comes to heat resistance.