If your current flooring is outdated, damaged, or worn, replacing it before selling can significantly boost your home's marketability. Buyers often prefer move-in-ready homes, and fresh, new flooring can make your property stand out.
Even a mid-range replacement can dramatically improve your home's appeal and perceived value. Consider replacing high-traffic areas with hardwood or luxury vinyl flooring. This upgrade can increase your home's value and attract more buyers looking for a modern, low-maintenance option.
Hardwood flooring has the greatest positive impact on home resale value in most cases, with an estimated return on investment (ROI) of 118%, according to the National Association of REALTORS® (NAR) 2022 Remodeling Impact Report.
Luckily, installing new flooring is one of the most rewarding home improvements with an impressive impact on your resale value. In general, replacing old, worn flooring with a new option always boosts your house's resale value. However, some flooring makes more of an impact than others.
In summary, a house may not be worth saving if the costs of repairs exceed its value, if it poses safety hazards, or if it is located in a poor market. A thorough inspection and cost analysis can help make this determination.
Age could bring down a home's value, especially if the home needs work. Buying a fixer-upper can translate to all kinds of additional costs. There are cosmetic concerns such as an outdated kitchen or a less-than-modern floor plan, and then there are functional issues like problems with the home's roof or plumbing.
Before trying to sell an unsellable home, you need to identify the problem. There are several reasons why a property may be difficult to sell, including an unfavorable location, structural issues, outdated fixtures, or a high asking price.
The best flooring for resale value: The ROI on wood floors
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%.
Carpet suits bedrooms better, and tile floors work best with kitchen and bathrooms. The main way that flooring affects your home appraisal in this way is by means of consistency. Contrasting floor colors and textures butted up against each other can detract from your home's overall style, and thus it's value.
Without a doubt, hardwood floors are preferred over carpet and vinyl. Tile is popular, too. If hardwood is in your home – even if it's under the carpet or in bad shape – restoring it, rather than installing carpet or vinyl, will be the most profitable course of action.
Does vinyl flooring devalue a home? It's possible. While vinyl plank floors are affordable and versatile, they might not boost your home's resale value like hardwood or tile would.
Renovations typically involve updating and refreshing a space, which may include replacing damaged flooring, updating hardware, or installing new windows. On the other hand, remodeling can be more extensive as it involves changing the structure or layout of a space.
According to the National Wood Flooring Association3 : 99% of realtors feel homes with hardwood floors are easier to sell. 82% feel they sell faster. 90% feel they sell for up to 10% more.
In highly competitive real estate markets, buyers expect top-tier finishes, and flooring plays a key role in meeting these expectations. In slower markets, buyers might overlook minor flaws, but clean, updated flooring can still give you an edge and make your home more desirable.
Just keep your communication to the appraiser about the facts of the home and neighborhood, how you priced the house, and any other relevant information you think the appraiser should know. And remember, don't discuss value. Don't pressure the appraiser to 'hit the value' and you'll be fine.
Return on Investment: Hardwood floors are known to bring a great return on investment (ROI). Depending on the type of wood and installation, hardwood can boost your home's value by as much as 2.5%. Homeowners can expect to recoup 70-80% of their initial investment when they sell.
Damage, incomplete repairs, and deferred maintenance can reduce your home's value. The appraiser deducts estimated costs of these repairs, affecting the appraisal amount. Outdated or non-functional features. An older home with outdated decor, appliances, or layouts may receive a lower value in its appraisal.
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.
2. Laminate flooring: Laminate flooring is available in various colors and designs. However, it is preferable to stick with options with a natural appearance, such as stone or wood. Beige, gray, and taupe are safe, neutral colors to choose from.
Bad layouts include a staircase that's facing the door, adjoining bedrooms, and no views from one room to another.
Putting off maintenance or neglecting to do it at all can lead to lower property values because they can lead to expensive repairs later. A small leak in the plumbing may not seem like a big deal at first, but over time it can cause structural damage, high water bills, or mold.
Is It Easier to Sell Empty Homes? In short, emptying your home can make it easier to sell rather than leaving it as it is. However, staged houses may attract higher offers and decrease the time the house sits on the market. The reason is that potential buyers need to be able to visualize themselves living there.