Question: I’m looking to sell my home within the next year or two. Will replacing my floors increase the resale value of my home?
As flooring installation experts in the Dallas and Fort Worth areas, we frequently hear this question from potential customers. And the answer is, honestly, it depends. Where upgrades and improvements often make your home more desirable in tight real estate market, the choices in materials and colors may either attract or turn off buyers. Making the right choice is key. As is understanding the market and buyers’ decor and design preferences. That being said, it doesn’t take an interior design expert to understand that worn out, discolored wood floors that need repair and refinishing will never be as desirable as clean, cozy and plush carpeting – no matter how many experts tell you that hardwood flooring is the overwhelming choice among home buyers. So, for homeowners who are looking to upgrade their flooring, it should be understood that there are flooring choices that potential home buyers are looking for when considering their next home and having those in place can increase your asking price if done right. The general guidelines for flooring are:
- Hardwood flooring – Real estate agents, interior designers, flooring experts and homeowners all agree on one thing: hardwood floors are, far and away, the preferred flooring choice of potential home buyers in Dallas and throughout the rest of the country. It makes little difference whether you choose solid hardwood or engineered wood in terms of ROI but where it is installed makes more of an impact. Basements, kitchens and laundry areas are served better by engineered wood floors. Because of its overwhelming popularity, installation of hardwood floors is believed to return more than two times the cost to add it to your home.
- Carpeting – If you are looking for a cost-effective way to spruce up your home, replacing worn-out and stained carpeting with new styles is a great choice. However, you should steer clear of the idea of replacing other flooring with carpeting. Covering up wood flooring is not a good idea and is often a waste of money as the next owners are likely to rip it out. If you have wood floors but they are not in the best shape, consider repairing and refinishing them as the cost to do so is likely to be even less than buying carpet to cover them. In rooms where carpet may be desired, like bedrooms and basements, an investment in carpet is likely to just pay for itself but the sprucing will give buyers less reasons to not consider your home for purchase.
- Vinyl flooring – Though vinyl flooring used to be somewhat of a joke among interior designers and flooring experts, today’s technology and materials have given a whole new aspect to the styles and looks of this highly cost-effective choice. Vinyl plank flooring even mimics the look of hardwood and is great for areas that you aren’t too concerned about. Areas such as basement bathrooms or laundry areas and mudrooms, or even that back entrance by the garage all would be perfect candidates for inexpensive flooring that looks good and is durable too. You aren’t likely to make back your investment on vinyl flooring however so use it sparingly.
- Tile Flooring – Though not as warm or inviting as the classic allure of hardwood flooring, tile floors are a great choice for updating your floors though again, it depends on where it is used. Many people do not want to see tile in living areas such as dens, living rooms or bedrooms but they do make for a great addition to kitchens, bathrooms and even some patios or covered sun-rooms. The choice in tile material makes all the difference, with natural stone, porcelain and ceramic being popular choices.