Yes, timber floors can add value to your property. According to real estate experts, installing hardwood floors can have a return on investment (ROI) of 70–80% and increase the sales price of your home by up to 2.5%. Wood floors are durable and versatile, and most buyers love them. They can also last for many years with proper care and maintenance. Hardwood floors are a desirable flooring option and tend to be in high demand. They can make the home look more attractive, which can increase buyer interest.
When owning a property, enhancing its value while ensuring protection remains a primary concern for any owner. Various methods exist for adding value, though some can be more costly than others. An easy and cost-effective solution that doesn’t strain your budget involves installing timber floors. Timber flooring is not only a favored flooring option but also enhances your property’s value. Need assurance? Continue reading to discover how timber floors contribute to boosting your property’s worth!
How Flooring Can Increase the Value of Your Home
Upgrading to new flooring has the potential to boost a home’s value by approximately 10 to 54 percent. Prospective homebuyers often express a willingness to submit higher offers for homes with recently installed flooring.
Updating the look
Refinishing or replacing your floors can give your home a more modern look.
Appealing to buyers
Hardwood floors are a top choice for buyers and can make your home easier to sell. Potential buyers say they’ll make a higher offer for a home with new flooring.
Being durable and attractive
Waterproof tile flooring, like ceramic, stone, or porcelain, is durable and attractive to potential buyers.
Having consistent flooring throughout the main living spaces can increase your home’s value.
What flooring adds the most value to a home?
The best flooring for resale value: The ROI on wood floors. They’re durable and 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 by as much as 2.5%.
What is the main purpose of flooring?
A floor covering refers to a material crafted from textiles, felts, resins, rubber, or other natural or synthetic substances. It’s applied, fastened, or laid on the flat base surface of a room. The primary purposes of a floor covering are to offer comfort, durability, safety, and decorative elements.
Why is quality flooring important?
Selecting a durable flooring material is crucial to withstand daily usage. Materials such as porcelain tile, vinyl, and hardwood are renowned for their resilience and durability, making them superb options for kitchen flooring.
What flooring adds the most value to a home?
There are two primary types of hardwood floors: Solid hardwood and Engineered hardwood.
Solid Hardwood is crafted entirely from 100% solid lumber, offering a distinctive allure. Its authenticity shines through as each piece is unique, and it can undergo refinishing multiple times for a rejuvenated appearance.
Conversely, Engineered Hardwood is constructed with layers of wood veneers, mimicking the look of solid hardwood while being more resistant to humidity due to its layered composition. This makes it ideal for areas prone to moisture concerns.
The typical cost for installing hardwood floors averages around $4 to $6 per square foot. However, this investment tends to increase home value by an average of 3% to 5%, making it a prudent choice for potential sellers.
For instance, if your home is appraised at $500,000, the installation of hardwood floors could potentially raise its value by $15,000 to $25,000, offering a considerable return on investment.
Hardwood floors enjoy popularity due to their easy maintenance. Unlike carpets prone to staining and attracting dirt, hardwood floors are simple to sweep and mop. Moreover, they don’t readily display signs of wear and tear compared to other flooring options.
Where do floors matter most in value?
If carpets work in the bedrooms, that’s fine, but most buyers nowadays prefer timber floors in key areas like the living room and hallways. Consistency throughout the property matters significantly. Having a single type of flooring across your home is advisable; multiple flooring types tend to deter potential buyers.
An Eco-friendly option
If environmental concerns worry you regarding timber flooring, rest assured—there are many eco-friendly timber floor options sourced from sustainable materials. For instance, bamboo flooring is both appealing and environmentally friendly.
Moreover, various timber floors bear eco-stamps, indicating sustainable harvesting methods. Farmers focus on replenishing what they use. While it’s challenging to pinpoint the flooring that adds the most value besides timber, it’s evident that buyers lean toward timber flooring over carpets.
Preferred flooring option in Australia
In recent US real estate studies, there’s been a noticeable rise in the adoption of timber flooring in properties. This trend has crossed over to Australia, where there’s a growing demand for timber floor installations. Australians are following the global trend favoring timber floors. Many property owners are opting to install timber floors solely to enhance their property’s resale value.