True value is achieved when the product lives up to your expectations and needs relative to the cost. That's what makes luxury vinyl tile (LVT) such a great investment — it delivers what most homeowners value in upscale flooring, at a budget-friendly price.
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.
Lower Resale Value than Real Wood
Vinyl plank flooring is versatile and all, but it will never be real wood. Despite vinyl's popularity, hardwood is still the most popular and desirable flooring type. If you're looking to change the floors to increase your home's resale value, investing in vinyl might not be worth it.
Wood floors are one of the best investments you can make. They're durable, versatile, and most buyers love them. According to real estate experts, the average ROI for installing hardwood floors is about 70% to 80%, and wood floors can boost the sales price of your home as much as 2.5%.
Solid hardwood or tile flooring can also work since the materials are well suited to almost any room. According to real estate agents, hardwood is the best flooring option to sell a house fast and also at top dollar.
LVT. They are made of the same polyvinyl chloride material, have similar performance qualities, score equally on durability and life span, are low maintenance and are easy and affordable to install. That said, LVP is the best choice if you are after a hardwood look for your floors.
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.
LVT (Luxury Vinyl Tile) and LVP (Luxury Vinyl Plank) are two different types of luxury vinyl flooring. LVT is vinyl flooring designed in a tile shape, whereas LVP is vinyl flooring designed in planks to resemble traditional hardwood floor planks.
Vinyl flooring is highly durable. If installed and maintained correctly, it can last upwards of 10-20 years. That said, vinyl is a great choice for the rooms in your house that get the most foot traffic. Additionally, most vinyl flooring has a wear layer on its surface that resists scratches and stains.
Vinyl floors can last anywhere from 5 to 25 years, depending on their quality and how they're installed and maintained.
If you purchase high quality, thick luxury vinyl flooring--whether plank or tile and have it installed correctly and maintain it well, you can expect a lifespan of 25 or 30 years.
“In our area, vinyl or laminate flooring is fine for homes at the median value or below. In higher value homes, buyers expect to see hardwood, stone tile, or luxury vinyl plank.”
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.
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.
Though it's gotten a bad rap in past years, vinyl flooring is making a comeback. Although relative ease of installation has long been one of the material's selling points, it's now the range of design options that is putting vinyl once again underfoot.
Luxury Vinyl Plank Flooring Installation Cost
For professional installation of luxury vinyl plank flooring, you should expect to pay anywhere between $1 and $5 per square foot.
Is LVT scratch resistant? Our luxury vinyl floors are incredibly resistant to scratches and dents. If the tile picks up wear and tear over the years, it's fairly easy to refinish the floor and bring it back to life.
Vinyl in demand
Choices for resilient vinyl flooring include a spectrum of styles, colors, textures and patterns. Add in vinyl's easy-to-clean characteristics, comfort under foot and family-friendly stain-resistance, and the result is increasing popularity with value-hungry shoppers.
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.
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.
“According to real estate experts, the average ROI (rate on investment) for installing hardwood floors is about 70 percent to 80 percent, and wood floors can boost the sales price of your home as much as 2.5 percent” notes realtor.com.
Flooring is typically installed in the same direction of your leading source of natural light, and the same goes for luxury vinyl. If you have large windows in a living room or an entryway that allows a flood of natural light, then run your planks in the same direction.