Can New Flooring Increase Home Value?
Updated: Jun 24, 2020
If you're planning on selling your home or just want to make a smart investment, you are probably looking for ways to increase the value of your home. So the short answer to our question—can new flooring increase home value?—is yes, but not all flooring options are equal. The right flooring upgrades will make your house move faster on the market, however mistakes could lead to the opposite. Here are some of the best options on the market and some tips to help you on your way.
Which Flooring Should I Use?
When it comes to resale value, hardwood flooring will always give you the biggest bang for your buck. Hardwood flooring was once just popular with luxury home buyers, but that is no longer the case. A 2017 study from the National Association of Home Builders found that 87% percent of buyers in the $100,000 to $149,999 price range want hardwood flooring. The type of hardwood floors you use will depend on your budget. The most common wood-strip flooring nationwide is stained red oak. This flooring costs about $3.30 per square foot. Black cherry, which has a natural cinnamon tint that darkens with age, costs about $4.90 per square foot. There are also vinyl and linoleum options that can give you the hardwood look and are typically less expensive.
Don't forget, when deciding on flooring choose something that make sense for that room’s purpose. That laminate flooring at your local hardware store may look nice in your kitchen, but there's a reason why experts will tell you to pick a ceramic or hardwood flooring. Kitchens, bathrooms, laundry rooms, and mudrooms can ruin lower-grade flooring like laminate because of liquid spills and other similar messes that occur in these types of rooms. So you can't use that laminate that fit your style perfectly, but just because you have to go with real wood doesn’t mean you’re limited to some shade of brown. There are tons of choices out there. Choose colors with wide appeal that fit your home’s style.