Your home's flooring is often one of the most important things, (if not THE most important thing), to replace before selling your home. New flooring can be a cost-effective way to make your home look more attractive to potential buyers.
Replacing flooring before selling is one of the most common pre-listing home improvement projects for a few different reasons. A survey from Coldwell Banker found that 80% of home buyers would prefer to buy a move-in ready home. Today's buyers want a house that requires minimal work for them.
Though many sellers renovate flooring when it is simply outdated -- rather than damaged -- it is almost always necessary to repair damaged floors before listing.
So the short answer to “does new flooring increase home value?” is yes—if you're smart about your selections. The right upgrades also make your house move faster on the market. Follow these 5 pro tips to get the most out of this wise home investment.
The National Wood Flooring Association (NWFA) indicates that U.S. real estate agents say that they believe that houses with hardwood flooring: Are easier to sell (99-percent of agents say this) Sell for more money (90-percent say this) Sell faster (82-percent say this)
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%.
No one wants to spend thousands of dollars on new floors only to find out later they could have gotten more value out of their project. Luckily, we did the research for you! Our Top Pick: You may have already guessed it, but the floor with the highest resale value is hardwood.
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.
If the laminate replaces old, worn carpet or sheet vinyl, you could see a value boost. But if the home already has old hardwood, you should refinish the natural wood rather than replace it with lower-quality laminate.
If you've only had your flooring for a few years, it might be best for you to keep it. However, you may still benefit from replacing relatively new flooring if it has sustained wear and tear from kids, pets, water damage, high traffic, lack of maintenance, furniture being moved around, etc.
Flooring is the Cornerstone of Your Home
Cracked tiles, carpet stains, or scuffed hardwood floors are enough to change buyers' minds and could affect the appeal of buying your home. Flooring sets the precedent for the rest of your home, so it's important to make a good first impression.
Well-maintained, high-quality carpet can add value to your home. Here's how to get your carpeting to stand out, according to experts. When you're looking to sell your home, certain home improvements can potentially increase its resale value—a fresh coat of paint, kitchen and bathroom updates, and the floors, too.
Budget. Generally speaking, it is almost always less expensive to refinish your hardwood floors than to replace them.
The layout of your home
If you have an open concept floor plan, a single flooring material will look more cohesive. The continuity will make your home appear even larger. If your home has a closed layout with each room having its own defined space, you can customize each space to have its own personality.
The spring and the fall are the most optimal seasons flooring projects.
“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.
Buyers tend to prefer hard surface floors over carpet. If you choose a quality laminate, you'll likely get a decent return on your investment. Laminate is also relatively affordable, which means you won't have to shell out a lot of your budget upfront.
If you're doing a whole house renovation, you may be looking at replacing carpet with hardwood floors. 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..
LVP flooring is waterproof, less expensive, and faster and easier to install than wood or tile. Even the high-end residential market discovered LVP floors last year. It works in wet areas such as bathrooms and laundry rooms as well as living rooms, kitchens, dining rooms, and anywhere in the house except for stairs.
Neutral shades such as light brown, gray, and black are timeless classics that will look good for years to come. These hues make a great backdrop for any room in your home, so you can easily accessorize the space without worrying about the color clashing with your floors.
What are timeless hardwood floor colors? Timeless hardwood floor colors are typically the natural hues that are found in the hardwood species that are most often used for flooring. Walnut, for example, is renowned for its dark, chocolate hues while Cherry is prized for its deep red tones.
Finally, given the tone of light floors, they tend to appear cleaner longer. Light-colored flooring often shows less dust, debris than do dark floors and pesky, inevitable scratches and damage will be less obvious.
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.
Even so, vinyl flooring generally will bring in a lower resale value than laminate flooring. High-quality laminate floor ranks below solid hardwood and engineered wood for resale value. But laminate flooring still commands a higher resale value than most types of vinyl flooring.
Pros: Vinyl flooring is especially good at fending off wear, dents, scratches, discoloration from sunlight, and stains. It's also waterproof, so it's a great alternative to tile in wet rooms such as baths and kitchens, where it provides a forgiving surface underfoot.