Adds Value to Your Home Homes with hardwood floors often have a higher resale value compared to homes without. This type of flooring is very attractive to prospective buyers, making it a worthwhile investment if you plan to sell your home in the future.
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%.
Both natural stone and porcelain are ever-popular options for kitchen floors thanks to their dense and hardwearing qualities. Natural stone does need sealing but only every 3-5 years and is low maintenance, whilst porcelain does not require sealing and is pretty much maintenance free.
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.
Carpet, particularly wool and shag varieties, provides the best R-values among all standard flooring choices.
Conclusion: What Flooring is Best Value for Money
For the best balance of affordability, durability, and looks, consider luxury vinyl plank (LVP).
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.
In kitchen floor tile trends 2024, more and more homeowners and designers have turned back to embracing warm tones, ranging from earthy browns to warm neutrals. Choosing a beige tile for the kitchen floor is a great way to add a subtle touch of warmth and make a space feel more welcoming.
Install tile flooring
Parquet tiles, for example, laid in a wide herringbone, chevron, or basketweave pattern, will immediately give the impression of a longer and wider space thanks to the way the lines draw the eye outwards. Choose a design and colour that complements your kitchen's existing decor.
According to BarnesVanze Architects associate Miriam Dillon, flooring choices that make homes look more expensive include hardwood, engineered wood, and natural stone materials.
Resale considerations
One of the most significant considerations is the local real estate market and buyer preferences in your area. In some regions, carpet may be more desirable for its comfort and insulation, while in others, laminate flooring's durability and low maintenance may be preferred.
The most popular flooring in homes today is wooden flooring – like luxury vinyl, laminate, or hardwood floors.
As for interior renovations, minor bathroom and kitchen remodeling projects yield the highest ROI. These improvements are less disruptive than major renovations to the same areas and more affordable, offering substantial returns.
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.
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.
For some homeowners, the choice between luxury vinyl and genuine hardwood comes down to a variety of factors including budget, lifestyle, and personal taste. High-end homes may still opt for the timeless appeal of real hardwood in main living areas, while using LVP or LVT in spaces like kitchens and bathrooms.
Generally, middle and upper floors have better resale potential due to their balanced advantages. A top-floor apartment with a view might have a higher resale value than a ground-floor unit.
However, vinyl flooring often takes the lead in environments prone to moisture or heavy foot traffic, thanks to its water-resistant and sometimes fully waterproof nature. Laminate flooring, while durable and scratch-resistant, is better suited for areas with less exposure to moisture.
By opting for affordable alternatives like laminate flooring, luxury vinyl planks, or creative solutions such as painted floors and peel-and-stick tiles, you can give your space a whole new look without emptying your wallet. So, lace up your DIY boots and start planning your budget-friendly flooring upgrade today!