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%.
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.
Hard surface flooring will give you the best return on investment, or ROI. Hardwood will be your best bet with the highest ROI since it's the long-standing preferred flooring choice. If you currently have hardwood floors, consider refinishing them if they need a little pick me up.
12mm is much more impact resistant than 8mm. Sharp items that accidentally fall on a thicker base will have very little effect on it. That's the reason why people prefer 12mm laminate in high traffic areas.
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.
The Basics:
Carpet tiles are perhaps the easiest to install DIY flooring. Regular old broadloom carpet (think large rolls that need a pad under them and have to be stretched and tacked down) still should be left for the pros.
Vinyl stands up the best against excess moisture and spills, and it can be less expensive than laminate. However, laminate gives a more realistic wood look to enhance the design aesthetic in your home.
While the materials themselves might be close in price, their installation costs are not. We'll explain why a little further down, but suffice to say that laminate generally costs $1–$2 per square foot to install, while tile generally costs between $5–$8 per square foot to install.
“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.
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.
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.
New flooring can add a ton of perceived value, encourage higher offers, and even make a home sell faster, but it may not add dollars to your appraisal. Buyers may like the updated flooring and offer more as a result, but don't expect a higher appraised value.
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.
Both flooring types are compatible with underfloor heating, although vinyl is slightly more efficient. Vinyl floors have the lowest thermal resistance of all Pergo flooring solutions and act as excellent thermal conductors.
Luxury vinyl planks, or LVP, are built in layers, similar to hardwood laminate flooring planks, with a protective finish over multiple layers of pressed vinyl, sealed into a hardboard core, and finished with an underlayment backing.
To keep your laminate floors fresh, mop them every two months. Damp mops (a.k.a. microfiber mops) are gentle enough to use on laminate floors. If you're going to use a regular mop, just wring it out until it's almost completely dry.
Installing hardwood flooring averages between $6 and $12 per square foot. On average, wood flooring costs between $3 and $7 per square foot for materials and $3 to $5 per square foot for labor. An estimate for installation of 1000 square feet of hardwood flooring runs between $6,000 and $12,000.
When comparing vinyl plank to laminate, it's a close race as to which is easier to install. However, the installation of vinyl plank requires fewer tools and steps, so it's the superior choice in this category.
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.
While luxury vinyl flooring is incredibly durable, it's not completely impervious to damage. It can scratch or scuff, especially with heavy objects such as appliances. On the positive side, luxury vinyl flooring is more scratch-resistant than hardwood, and, with LVP, you can replace pieces if they get scratched.
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.