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%.
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.
Hardwood is a High-End Choice
Most real estate experts claim that the average return on investment for hardwood floors is around 70 to 80 percent. In fact, installing wood flooring can increase your sales price by quite a bit if you're in a healthy market.
Dark colored hardwood floors are highly sought after by home buyers because they match modern styles. Lighter hardwood floors don't have that same appeal to many buyers, but buying quality hardwood can help.
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.
If you've been considering upgrading your flooring before putting your house on the market, you may be wondering if luxury vinyl plank flooring (LVP) is worth the investment. The answer may surprise you - not only does LVP often help homes sell faster, but it can also lead to a higher sale price.
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.
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.
Colonial. Colonial-style homes have the highest resale factor when all other elements are equal.
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.
Property valuation primarily takes into account recent sales of comparable properties in the area. Key identifying factors are the same square footage, number of bedrooms and lot size, among other details.
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.
If your old floors are in bad shape, any new flooring will help. While solid hardwood flooring would add more value, laminate will give your home the look of hardwood at a much lower cost, will look good for years, and your return on investment should be solid.
Location is the single most important factor when it comes to a home's resale value. Purchasing a home in a good location ensures that your home will be a hot commodity when it hits the market in the future. This is also true for real estate located in an up-and-coming neighborhood, where home prices are on the rise.
#4: Light Neutral Colors
Another top flooring trend in 2023? Light and neutral flooring. Modern grey wood flooring continues to be popular, as are light floor colors like blonde and beige. A great way to add these lighter flooring shades to your home or business is to use bamboo flooring.
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.
Color: when we think about a spacious room, blonde wood often comes to mind. Floor color plays a major role in making your small space seem larger. We often recommend light colors to give the room an airy feel. For example, blonde, light brown, or whitewashed hardwood can make the room seem more open.
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.
In winter, cold and dry atmospheres cause potential cracking risks to your flooring, especially if they aren't properly acclimated. Spring and fall provide nice in-between weather and temperature conditions, not leaning toward any extremes, generating ideal installation circumstances.
The spring and the fall are the most optimal seasons flooring projects.