Before purchasing a property, you might be surprised to know that its flooring type can significantly impact its resale value.
From hardwood and vinyl to tile and carpet, you’ll want to consider the best flooring before purchasing or selling your home or business space. On average, homeowners can expect to make a higher return for installing wood flooring or purchasing a space that already has hardwood.
Below, we’ll highlight more benefits of wood floors and provide a few factors to consider for a strong return on investment (ROI).
What Determines Home Resale Value?
When buying a property, it’s a wise idea to search and plan for specific factors that buyers look for in a new home.
For instance, you may want to consider:
- Location and neighborhood: Before buying a home, research its location and neighborhood data — you might find local data that includes crime trends, zoning laws and more. Also, you can see how quickly other buildings have sold in the area, indicating the location’s desirability.
- The size: Depending on your location, size trends impact the sell potential of your space. In urban areas, smaller square footage is most common, while suburban homes have larger spaces that buyers might be more interested in. Though bigger homes will almost always be worth more money, you’ll find that even small properties can go for a hefty price tag in the right location.
- The market: If you’re shopping in a buyer’s market, you’ll get a great deal and typically have an easier chance of making a profit in terms of resale. Check the current state of the housing market since it’s constantly fluctuating.
- The layout: Depending on the area, you might want to purchase a place with a specific layout, such as an open floorplan, that likely to entice buyers.
- The condition: The age of your future home or office space won’t make a significant resale difference so long as you commit to keeping it well-maintained. This might mean updating certain building features after buying it or taking note of past upgrades before purchasing.
The Impact of Floors on Resale Value
It’s no surprise that flooring can make a significant impact on your property’s resale value. Though you can’t change your current space’s size, location or neighborhood, you can install floors or update them later on for a strong ROI. In particular, hardwood flooring is the top choice for most homeowners and business owners for its beautiful, natural look and durability.
The average ROI for installing hardwood floors is 70% to 80%, making them one of the best types of flooring for resale. Suppose you decide to renovate before selling your home. In that case, you’ll want to make sure your flooring matches across each room to create flow, choosing colors that match the property’s style and are aesthetically pleasing to a variety of buyers.
How Hardwood Floors Boost Home Resale Value
According to the Remodeling Impact Survey by the National Association of Realtors, people who install new wood flooring in their homes could get back 106% of what they spend. When it’s time to sell, refinishing hardwood floors could make back 100% of the cost.
This kind of flooring is attractive to most homeowners because of its beauty. The distinct colors, grains and textures of hardwood lend to its visual appeal over other types of flooring when it comes time to buy or sell a home. Many people search for hardwood floors to add to their home aesthetic and provide a warm, welcoming space for guests.
Further, hardwood flooring is practical, making it an ideal choice for homeowners with pets or children. Unlike some other flooring options, it’s easy to clean and maintain hardwood, so you can count on it to last for years to come. If you want to change how the wood looks over the years, you can apply a stain relatively easily.
Generally, hardwood floors will cost between $9-$18 per square foot for both material and installation. As a result, they’re a relatively affordable investment compared to other flooring options, such as luxury vinyl planks or even some carpeting. There’s also the opportunity to use reclaimed hardwood flooring to enhance your property’s character, which most buyers will recognize the unique characteristics and wide planks that reclaimed flooring can provide.
The Benefits of Hardwood Floors
While hardwood floors boost your home’s resale value, they have numerous other benefits worth considering.
- Withstands heavy activity: The hard finish on wood makes it durable in high-traffic areas of your home or office. Even if you notice scratches or scuffs over time, you can easily sand them or refinish them for a completely new look.
- Healthy and safe: Because hardwood won’t trap any dander, dust or allergens, it’s a safe and healthy option for homeowners, increasing home value for potential buyers.
- Low maintenance: The surface of wood won’t trap many stains and other debris. Use a soft cloth to wipe away any blemishes as they occur. Additionally, be sure to vacuum weekly to get the most durability out of your floor.
- Long-lasting: Depending on how well you take care of it, hardwood can last a lifetime — and even then, maintenance is easy and only required every week or so.
- Cost-effective: Since hardwood is durable and easy to maintain, you’ll reap the benefits of your investment by installing it in your home or purchasing a property that already has it.
Choosing Superior Hardwoods of Montana
Superior Hardwoods of Montana has a passion for helping customers find reclaimed wood to increase your home’s value and complement your space. Our antique reclaimed lumber brings a rustic aesthetic to every corner of your property with a charming, natural look that’s sure to impress potential buyers.
We recover our wood from over 100-year-old barns and buildings. Every board is unique and adds its own flair once installed. Our array of lumber types include:
Browse a vast selection of wide plank flooring and choose from our Heirloom, Treasure, Wilderness or Prefinished series for the best style to match your home or office’s aesthetic. The Wilderness series invites feelings of rugged Montana beauty, while the Treasure State series is ideal for its high-grade lumber materials and expansive look for your rooms.
Contact Superior Hardwoods of Montana Today
Superior Hardwoods of Montana has been in the lumber business since 1977. We’re antique pioneers of the green movement and install flooring for your specific style needs and budget. Let us guide you through the woods by bringing the stunning beauty of Montana to your home.