While new styles of luxury laminate flooring look beautiful, hardwood tends to be the best flooring to increase home value. Made of natural materials, hardwood exudes a luxurious aesthetic in any home whether it's old or brand new.
It's no surprise— hardwood flooring has long been the top choice for buyers and agents alike, and remains so in today's market.
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.
New flooring can increase the value of a home by nearly 10 to 54 percent. Potential homebuyers say that they will put in a higher offer if a home has new flooring. Potential buyers also said they would reconsider putting in an offer if the flooring is outdated, dirty, or worn.
Hardwood has remained at the top of the podium for decades now and continues to dominate the home flooring industry. While the demand for hardwood is soaring even after all these years, it's important to know that there are certain elements that distinguish outdated hardwood flooring from its modern counterparts.
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.
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.
The average cost of new flooring installation is $6 to $10 per square foot with some homeowners spending as little as $3 or as high as $18 per square foot depending on the materials chosen. For a medium-sized living room of 330 square feet, you can expect to pay between $1,660–$4,620 for installation and materials.
YES! Engineered hardwood is the “real deal,” just like solid. There aren't many differences between the ROI of these two products. This product increases a home's value in a few ways: You'll recoup 70% to 80% of your investment as seen in your property values.
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.
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.
Vinyl flooring is probably the easiest to clean out of all the options listed here and also one of the easiest to maintain. Also known as Cushion Floor, vinyl flooring is available at a good price and can take plenty of wear over the years, which is why many will come with a 15 year warrantee.
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.
Bottom Line. Laminate flooring, in good condition, improves the value of the home over traditional wall-to-wall carpeting. However, hardwood floors are still more valuable to potential buyers than laminate flooring.
Replacing your old flooring before selling will improve the look of your home, but also increase its resale value. Before you install new flooring, you should make sure that your old flooring is thoroughly removed to make a clean slate.
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.
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.
Luxury Vinyl Plank (LVP) or Luxury Vinyl Tile (LVT) has incredible hardwood floor, ceramic tile, or natural stone visuals. These products are much thicker (5mm up to 12mm) than traditional sheet vinyl floors (2mm) and can usually be installed over existing floors where sheet vinyl would most likely need a new subfloor.