- Hardwood Flooring: Classically Elegant & Always in Style
- Tile Flooring: A Versatile Choice
- Carpet Flooring: A Cozy & Comfortable Choice
- Linoleum: A Budget-Friendly Flooring Choice
- Vinyl: A Durable & Easy-to-Care-For Flooring Option
- Other Things to Consider When Choosing New Flooring
- Mixing Different Types of Flooring
- Final Thoughts
- How FastExpert Can Help
How Much Value Does New Flooring Add to a Home?
When preparing to sell your home, new flooring can substantially elevate the aesthetic appeal and practicality of your space, making it more enticing to potential buyers.
A well-chosen flooring not only adds value to the home but sets the tone for its overall design. Selecting the best flooring in good condition becomes vital in enhancing your property value and appealing to those searching for their new home.
It’s crucial, then, to strike the right balance between style and durability. There are many different types of flooring on the market, so it’s important to choose something that will complement your home’s existing style.
For instance, hardwood floors have been a timeless favorite and might be the best option if you have a traditional home. However, if you have a more contemporary home, modern alternatives like laminate or tile can also add a stylish flair without compromising on durability.
In this article, we’ll discuss the various types of flooring and whether or not they increase home value. We’ll also provide tips on choosing the right flooring for your home so it can increase your home’s resale value.
Hardwood Flooring: Classically Elegant & Always in Style
Hardwood floors are classic,elegant, and timeless. They’ve been popular for centuries, and they continue to be one of the most sought-after flooring options on the market. If you have hardwood floors in your home, you can rest assured that they will increase the value of your property.
According to statistics from the National Association of Realtors, a substantial 54% of house purchasers are inclined to shell out additional funds for homes with hardwood floors, amounting to roughly an extra $2,080.
Furthermore, hardwood floors have a broad appeal that extends beyond the high-end market. As per a 2017 research conducted by the National Association of Home Builders, an overwhelming 87% of individuals seeking homes in the price bracket of $100,000 to $149,999 express a preference for hardwood flooring.
There are two primary types of hardwood floors: solid hardwood and engineered hardwood. Solid hardwood is made from 100% solid lumber and exudes a charm that is unmatched. It’s uniquely authentic because no two pieces are exactly alike, and it can be refinished multiple times for a fresh look.
On the other hand, engineered hardwood, which is constructed in layers of wood veneers, has the appearance of solid hardwood but is more resistant to humidity due to its cross-layer construction. This makes it particularly suitable for areas where moisture is a concern.
The average cost for installing hardwood floors is around $4-$6 per square foot. But, doing so can increase home value by 3%-5% on average, making it a wise investment for those looking to sell.
For example, if your home is valued at $500,000, installing hardwood floors could increase its value by $15,000 to $25,000, providing a substantial return on investment.
One of the reasons hardwood floors are so popular is that they are easy to care for. Unlike carpet, which can stain easily and attract dirt and dust, hardwood floors can be easily swept and mopped. Hardwood floors also don’t show wear and tear as easily as other types of flooring.
When choosing hardwood floors for your home, it’s important to select a species that is durable and easy to care for. Some of the best options include oak, maple, and cherry for solid hardwood. These hardwoods are not only beautiful, but they’re also built to last.
For engineered hardwood, the top layer of veneer comes in a wide variety of wood species, enabling you to choose a design that can effortlessly blend in with traditional and contemporary spaces.
Tile Flooring: A Versatile Choice
Tile is another popular flooring option that can significantly increase property value. Tile is a versatile material that can be used in a variety of ways- enhancing new homes and in home renovation projects. It’s commonly used in kitchens and bathrooms, but it can also be used in living areas and bedrooms.
The average cost for installing tile flooring is $5-$7 per square foot. Investing in tile flooring can be a smart move for homeowners looking for a return on investment, as it can increase the property value by 2%-4% on average. However, these figures can change dramatically depending on the quality and type of tile used.
A big selling point for tile is its low-maintenance nature. With proper care, tile flooring can last for many years. It’s also stain-resistant and water-resistant, making it a particularly good choice for areas that experience heavy foot traffic or are prone to spills. This durability adds to the property’s appeal and can positively impact its value.
When choosing tile for your home or renovation project, you’ll have a lot of options in terms of style and design. You can choose from a variety of colors, patterns, and materials. There are also many different sizes and shapes to choose from.
One thing to keep in mind when choosing tile is that it can be cold and hard underfoot. This might not be the best choice for bedrooms or living areas where you want a cozy, comfortable feel. As such, it could negatively impact the selling price of your home if potential buyers don’t like the feel of tile flooring.
Tile is a versatile and durable flooring choice that can add significant value to a new home or renovation project when used wisely. It’s essential to consider the preferences of potential buyers and the overall ambiance of the home in order to maximize the return on investment.
Carpet Flooring: A Cozy & Comfortable Choice
Carpet is a popular flooring choice for many homeowners because it’s cozy and comfortable, making it particularly appealing for those looking to boost the ambiance and value of a new home or during a home renovation. It’s also relatively inexpensive, making it a good choice for a budget home improvement project. The average cost for installing carpet is $3-$5 per square foot.
Carpet can also increase home value, although not as much as other flooring options. It’s estimated that carpets will increase home value by 1%-3%. However, this number can vary depending on the quality of the carpet and the style of the home, so considering the return on investment is important.
One downside to carpet is that it can be difficult to keep clean. It’s also more likely to show wear and tear than other types of flooring. As such, it might not be the best choice for homes with pets or young children, which is a major factor to consider in the context of home renovation decisions.
When choosing carpet for your home, you’ll want to select a style and color that will complement the rest of your decor. You’ll also want to choose a carpet that is durable and easy to clean.
Linoleum: A Budget-Friendly Flooring Choice
Linoleum is a type of flooring that is made from natural materials, including linseed oil, cork dust, resin, and wood flour. It’s a budget-friendly flooring option that is easy to install and maintain. The average cost for installing linoleum is $2-$4 per square foot.
Linoleum is a durable flooring option that can last for many years with proper maintenance. It’s also easy to clean and resistant to stains and spills. However, it can be susceptible to damage from sharp objects and high heels.
When choosing linoleum for your home, you’ll have a variety of colors and patterns to choose from. You can also choose from a variety of textures, including smooth, embossed, wood grain, and tile.
Vinyl: A Durable & Easy-to-Care-For Flooring Option
Vinyl is a type of flooring made from polyvinyl chloride (PVC). It’s a durable and easy-to-care-for flooring option that is ideal for high-traffic areas. The average cost for installing vinyl flooring is $2-$6 per square foot.
Vinyl is a versatile material that comes in a variety of colors and patterns. It’s also easy to clean and resistant to stains and spills. However, it can be susceptible to damage from sharp objects.
When choosing vinyl for your home, you’ll want to select a style that compliments the rest of your decor. You’ll also want something that is neutral and won’t seem too bold to a home buyer.
Other Things to Consider When Choosing New Flooring
To maximize the marketability of your home, it’s imperative that you put some thought into the renovation.
If you live in an area that gets very cold in the winter, would you want tile flooring? Likely not. It would make more sense to select a flooring that would be comfortable and cozy during the winter months.
Other important considerations include:
- Humidity – Humid regions are not ideal for hardwood floors as the humidity can cause the wood to warp. In such cases, tile or luxury vinyl might be a more suitable option.
- Traffic – High-traffic areas will require a more durable flooring option that can withstand a lot of wear and tear. Consider materials like laminate or tile for these spaces.
- Allergies – Flooring that helps reduce allergies is a big selling point for many homebuyers. Options such as hardwood or laminate are known for being hypoallergenic and can add value to your home.
- Maintenance – Think about how much time and effort you are willing to put into maintaining the floors. Some materials require more upkeep than others.
- Aesthetics and Style – The flooring should complement the interior design and aesthetics of the home. This can greatly impact the first impression and appeal to potential buyers.
- Acoustics – If you live in a multi-story building or are sensitive to noise, consider flooring options that offer sound absorption qualities, like cork or carpet.
- Eco-friendliness – With a growing trend towards sustainability, choosing eco-friendly flooring options such as bamboo or recycled materials can attract environmentally-conscious buyers.
- ROI (Return on Investment) – Evaluate the potential return on investment for different flooring options. Some materials may have higher upfront costs but can increase the property value significantly.
- Longevity – Opt for flooring materials that are known for their durability and longevity, such as tile or natural stone. This could reduce the need for replacements in the near future.
These are just a few things to keep in mind when selecting new flooring for your home. The best way to find the right flooring option is to consult with a professional who can help you select the best option for your needs and budget, and ensure that your choice aligns with market trends and buyer preferences.
Mixing Different Types of Flooring
Along that line of thinking, consider ways you can replace the flooring and turn it into a selling point. This may mean that you choose different types of flooring for different areas of the home. For example, comfy carpet in the bedrooms, laminate in the bathroom, mudroom, and kitchen, and hardwood in the living room. These are all choices that potential buyers would be interested in and could help you sell your home quicker.
If you choose to mix different types of flooring, you’ll need to make sure they all transition beautifully from room to room. The last thing you want is for the different types of flooring to clash and look out of place. Work with a professional to help you choose the right types of flooring and plan the installation in a way that will make your home flow seamlessly from one room to another.
Also, by mixing different types of flooring, you will affect the value it adds to your home. However, by playing up the positive aspects of each type, you may be able to raise the value of your home to offset the cost of the flooring and then some. If done right, that could translate into higher price points than just one type of flooring.
Replacing the flooring before putting your home on the market is a big job. Not only do you have to select the right type of flooring, but you also have to make sure it’s installed correctly and that it transitions well from room to room.
Despite the fact that it is a big endeavor when you already have so many things going on, it can ultimately pay off big when you sell your home. Mixing different types of flooring can add value to your home and make it more attractive to potential buyers. Just be sure to work with a professional to help you plan the installation and choose the right types of flooring.
If you’re not sure which way to go, reach out to a real estate agent to discuss your options. They will be able to give you insights into what types of flooring are most popular in your area and how much value they can add to your home.
Additionally, a real estate agent can help you stage your home to sell and can give you tips on making it more appealing to buyers. They will also be able to help you price your home competitively so that you can get the most money out of the sale.
How FastExpert Can Help
If you’re thinking about replacing the flooring in your home before selling, don’t do it alone. The process can be overwhelming, and there are a lot of factors to consider. That’s where FastExpert comes in. We can connect you with top-rated real estate agents in your area who will help you through the entire process, from start to finish.
We will provide you with a list of agents to choose from, and you can read reviews and compare pricing so that you can find the perfect fit for your needs. The best part is that our service is free, and there is no obligation to use any of the agents we recommend.
Get started today by finding a top-rated real estate agent near you!