Few things are more welcoming than an attractive, well-maintained floor. Giving it an upgrade can significantly increase your home’s value to potential new buyers while giving your living spaces elegance, warmth and character.
How Much Value Does New Flooring Add to a Home?
New flooring can add value to your home, up to an 80% return on investment (ROI), increasing the sales price by more than 2%. Homeowners value new flooring in their own homes and appreciate those same flooring standards when purchasing new property.
It’s vital to evaluate which floors buyers prefer, as this can indicate what type of flooring is best for a remodeling project and how it can elevate your property’s perceived value. There are many different flooring options, and the various types provide different aesthetics and benefits.
Factors to Consider in Flooring and Resale Value
When considering new flooring, consider functionality and visual appeal. Other than the basic elements that buyers look for in a house, like mechanical structures and how these will work over the long term, floors are crucial, and buyers often want flooring that simplifies their lifestyle.
Durability
Though no two buyers are the same, most people value a strong, robust floor that can provide reasonable performance over time. This should be balanced with cost, considering your budget and how much you’re willing to spend on a long-lasting floor that also looks stylish.
Maintenance
Maintenance is another important factor. In general, the less maintenance a floor demands, the better. Some floor types require more upkeep than others, but many would agree that reaping the rewards of a stunning floor is worth it.
Aesthetic Appeal
The look of the floor is another vital detail that shouldn’t be overlooked. When walking into a home, people want to feel welcomed by a beautiful floor that adds to its charm. Any floor can achieve this when you carefully choose the color, design and material.
Best Flooring Options for Increased Resale Value
When deciding which floor is best for an investment, it’s prudent to consider what buyers find valuable. Expensive flooring that looks and feels good yields high returns and is the most popular choice. Other less expensive flooring also performs well, so consider your budget, taste and home style.
Hardwood Floors
Hardwood floors remain a firm favorite as one of the best flooring upgrades. Lumber companies use hardwood pieces to make hardwood flooring, which undergoes extensive milling to get the finished product. These pieces of solid wood are nailed to the subfloor. Popular species include cherry, oak, walnut and maple.
Engineered hardwood is made with layered wood veneers. Thanks to this layered construction, this flooring material offers the same amazing visual results as hardwood but with more humidity protection.
Many homebuyers value hardwood floors for their versatility and cost-competitiveness. If you redo your hardwood floors or install a new floor before a sale, you can get the best ROI, as most buyers prefer this floor’s durable, stylish look.
Laminate Flooring
Laminate flooring is a viable hardwood floor alternative if you don’t want or need to invest in hardwood or engineered hardwood floors. This flooring type is made of several layers of fiber board and melamine resin. The top layer comprises a printed image that looks like real wood so you get the look of a hardwood floor at a reduced price.
Thanks to its resistance to stains, scratches and dents, this is a popular choice, particularly with homebuyers with pets. Though the ROI may not be as high as for solid wood, you can still get fair returns for laminate flooring.
Luxury Vinyl Plank (LVP)
Among the different flooring types, vinyl planks are among the most durable, easy to maintain and affordable. This floor comprises multiple layers of materials, which can sometimes help even out flooring surfaces. They also offer various modern designs, so you’re sure to gain decorative and investment value.
These floors mimic stone and wood and are popular among buyers who prioritize having a robust floor that doesn’t compromise style.
Porcelain Tile
Porcelain tile is nearly impervious to water and can withstand wear and tear better than some other options. It also resists scratches and chips, making it a great investment for kitchens, bathrooms, patios and hallways.
Porcelain tiles also come in different styles and patterns, so you can make them your own. Choose between round, big, rectangle and small square patterns. They also come in circles, triangles and brick styles. Their durability and design versatility are a distinct attraction to buyers.
Natural Stone
Natural stone is a clear pick for high-end flooring choices. This flooring does well for upscale homes and adds luxury and interest to any room. Natural stone floors are made from tiles cut from stone blocks. These stone blocks come from mountainous minerals like granite, marble and travertine, to name a few. Many homebuyers will appreciate the beauty of natural stone.
Although natural stone floors may not be as popular as hardwood floors, as they do need occasional resealing, they elevate any living area.
The Appeal of Flooring and Its Contribution to Resale Value
The National Association of Realtors® (NAR) regularly researches the real estate market, providing valuable insight into what buyers would pay for and what they prefer. In a study evaluating the impact of remodeling, NAR considered the joy and cost recovery scores of interior and exterior upgrades. The joy scores were up to 10, indicating projects which brought the most joy. The cost recovery scores were up to 150%, indicating the highest cost of recovery.
Homeowners who refinished with hardwood flooring or got new flooring gave their joy experience a 10. A home’s dollar resale value after a hardwood flooring refinish was equally optimistic, with a 147% cost recovery. New flooring came second on the list with a 118% cost recovery. These numbers indicate that homebuyers would pay extra for homes with upgraded flooring.
Elevate Your Floors Today With Choice Floors & Stairway
Refinished flooring is one of the best ways to add value to your home. A hardwood floor is popular, as it adds warmth and charm to a room’s overall feel. Buyers also consider durability and ease of maintenance, such as laminate flooring, porcelain tiles or luxury vinyl planks. Having the right flooring in different areas of your home is one of the best things you can do to increase its value.
We at Choice Flooring & Stairway are passionate about design and providing you with the best options suited to your taste, lifestyle and budget. Invest in your home today with quality flooring from Choice Floors & Stairway. Get started and consider the best option with our room visualizer tool. You can also browse our offerings and shop at home or schedule a measure by contacting us online.
