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.
"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.
If the existing carpet is in decent condition, neutrally colored, doesn't have any major stains or harbor any odors you may want to delay replacing them. If you don't love your carpets, but you like them, you can probably make due in the short term.
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 But stained or outdated carpeting doesn't do you any favors.
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.
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.
Key Takeaways
Sellers should never discuss things like price, why they are selling, problems with the home, other offers, or closing with buyers. Anything said to a buyer's agent should be considered said to the buyer and may be used during negotiations.
A lack of outdoor space, damp patches and nasty odours top the list of the biggest deal-breakers for house hunters, according to new research commissioned by GoCompare Home Insurance. The survey revealed that poor maintenance and bad housekeeping are among the most common property 'turn-offs' for potential buyers.
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.
“While it varies a lot, we estimate that fresh paint adds 1%-3% to a home's final sale price”. Meaning you could get $3000-$9000 more for the sale of your $300,000 house.
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!
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.
Sometimes a home can take longer than expected to sell. There are a number of reasons why this could be the case including: a slow property market, lack of publicity or photos that aren't doing the property justice.
Normally a buyer would have six years in which to bring a claim against you, although in certain situations it could be three years from when the buyer becomes aware of a problem.
2022 is still a seller's market if you're looking to take advantage – but it's important to note that the market is not as competitive as it was in 2021. You may have heard stories about sellers able to find buyers to take their home as-is, or in some cases, even without an inspection in 2021.
Should I be upfront about what I can afford? “No. Keeping your real budget limit under wraps can put you in a stronger position. But do let the estate agent know that you're interested to see any properties that fit your criteria, even if they cost a bit more than you've said you're willing to pay.
View three to five homes in a day, and if nothing jumps out, take a breather and start again another time. Once you view 10-15 homes in person, you probably have a good idea of what's available in your price range.
Although they shouldn't, estate agents can and do lie about offers to make it look to you as a seller that they're creating lots of interest in your property. An estate agent may also lie about offers so they can push you in the direction of a specific REAL offer, so they can get their hands on their commission ASAP.
The Bottom Line: Flooring and Home Value
While it's hard to say exactly what flooring (other than hardwood) will add the most value to a home, it's clear that buyers prefer hard surfaces over carpeting.
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.
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.