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.
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%.
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.
Its durability and water resistance makes it a great material to increase value in rental properties, kitchens, bathrooms, and laundry rooms. However, we don't always choose luxury vinyl for our properties. While the material is durable and stands up to water well, it's softer than hardwood and tile.
Resale Value
On average, installing hardwood floorings can boost the price of your home by as much as 2.5%. Because engineered wood flooring looks almost precisely like solid hardwood, it's rarely a turn-off for potential buyers. However, it might not increase the value of a property as hardwood flooring would.
Cons of Engineered Wood Floors
Require special care: These floors cannot be cleaned the same way hardwood floors can be. Only use engineered specific cleaning products. Not as Thick: With only a single thin layer of true hardwood, they can scratch and become damaged more easily.
Engineered hardwood floors do not need to be refinished and maintained the way authentic hardwood does over time. At the same time, they offer the same look as authentic hardwood, increasing the value of your home at a fraction of the cost.
You may have already guessed it, but the floor with the highest resale value is hardwood. Since hardwood is always in demand, it is an easy choice to up level your home.
“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.
In larger single family homes, Hardwood Flooring is an upgrade that can significantly increase resale value and is often a good investment. Luxury Vinyl Plank is less likely to be seen as an asset to these homes when it comes time to sell, but many buyers still appreciate the benefits.
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.
Con: LVP May Dent
Luxury vinyl flooring can dent and even scratch or scuff, especially from heavy appliances, furniture, or other weighty objects. Just because it's resistant to something doesn't mean it's impervious to it. However, do know that LVP resists scratches better than real hardwood.
LVT will never look “cheap” — it will make your life easier and enhance the look and comfort of your home.
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.
The best time to buy flooring and get the best prices is in the off-season, between December and January. This is when you are likely to find the best clearance sale prices.
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.
Light-colored neutrals generally work best, as they help the space to feel larger. However, many homebuyers will be put off by white carpet, as they will worry about how they will keep it clean.
Go Neutral
Choose between cream, tan, beige, or caramel so it's neutral. Although it's tempting, avoid white as potential buyers may worry about keeping the carpet clean. Light-colored carpet makes rooms look bigger which is a major plus.
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.
Overall Look and Feel
The main way that flooring affects your home appraisal in this way is by means of consistency. Contrasting floor colors and textures butted up against each other can detract from your home's overall style, and thus it's value.
Colonial. Colonial-style homes have the highest resale factor when all other elements are equal.
It keeps the house looking consistent
If you have a color scheme or style that you love, having the same flooring flow from room to room will allow you to extend that feel throughout your entire home. Using the same flooring material ensures your home will have an elevated and cohesive design.
Given the average price to install engineered wood per square foot, we can calculate that it would cost between $3,000 and $8,000 to professionaly install 1,000 square feet of engineered hardwood.
Darker floors are better suited for larger rooms and open floor plans. Another seemingly unrelated factor to consider is how often you clean your floors. Light hardwood flooring can hide small flaws, dirt, and debris, but anything larger will be very noticeable.