A Solid Investment
Have you ever wondered if finished hardwood flooring adds value to your home or is worth the investment? Are you thinking of selling your property and want to increase its value? Many homeowners ask themselves these and other related questions regarding hardwood flooring, and the short answer is yes! According to realtor.com <link to realtor.com>, hardwood floors can increase the value of a home up to 2.5%. And it is well known among realtors that homes with hardwood flooring are easier to sell, sell more quickly, and that 54% of buyers pay more for them according to the National Association of Realtors.
Hardwood floors have stood the test of time when it comes to home décor as it has risen to become a top choice for homebuyers over the years. With new trends, finishes, and technological advances continuously appearing in the industry, it doesn’t seem to be going out of style any time soon. Nevertheless, it’s not a one size fits all solution. Having it installed or getting your floors refinished, doesn’t automatically mean you will see great results. To decide if installing or refinishing your floors is the right move for you, keep these three tips in mind.
Consider Your Design
All hardwood flooring is not equal. While it usually adds durability and elegance to your flooring system, especially when compared to carpet, certain designs can decrease appeal. For example, dark hardwood, cross pattern, and herringbone short planks are often associated with being outdated. Planks going in the same direction, tend to make spaces seem tighter when many buyers value open floor plans. Also, keep in mind to avoid current and upcoming flooring trends when considering your design options. Such trends often go out of style quickly and become a negative feature if you live in your home for some time before you sell. Not straying too far from a classic look ensures your flooring won’t go out of style.
More Than Flooring
Hardwood flooring alone can’t increase the value of your home if other, more important features need to be updated or repaired. In real estate, kitchens and bathrooms are known to be the most important rooms that add value to a home. Upgrading old appliances, bathroom tiles, cabinets, and countertops, not to mention applying a fresh coat of paint, in conjunction with hardwood floors, can increase the value of your home tremendously. Without these additional updates, the value hardwood floors add may be minimal.
Another thing to keep in mind is where you install your hardwood floors. If solid hardwood floors are placed in less than ideal areas such as basements or bathrooms, the problem of humidity and moisture in those areas may turn away potential buyers.
Be a Follower
Most of the time, being a follower is labeled as a bad thing. However, having hardwood flooring is an exception to this rule. If hardwood flooring is a common feature of the homes in your area, updating your floors may be more than an option but a necessity. Without this feature, your home’s perceived value can drop and force you to entertain less than desired offers. Keeping your home up to date with the surrounding properties allows your home to stay competitive in your local market.
Make Your Home Stand Out
Unfortunately, while it is clear that hardwood flooring adds value, precise numbers on ROI are simply not available. Such statics are hard to come by, which is likely due to the numerous variables that would need to be considered. Nevertheless, if you are interested in learning more or having hardwood floors installed in your home or property, contact us today. We have the expertise and experience to make your home stand out.