When you’re living through a renovation, it can feel as if time is standing still. As you get closer to your budget, you start second-guessing some of your choices.
“Do I need granite counter-tops?”
“Should I re-tile the shower?”
“How much does hardwood floors increase the value of a home?”
In the end, these choices can make a difference when you sell your home. When it comes to flooring, in particular, there are a lot of myths about which type increases your home’s value the most.
In this article, we’ll give you the low-down on the value hardwood adds to your home.
The home improvement industry pulls in more than $360 billion each year. Flooring makes up a huge chunk of that.
The new more cost-effective and eco-friendly flooring materials are increasing in popularity. Cork, bamboo, glass, rubber, and PET Berber carpet are durable and easy to install. But nothing speaks to people like good old fashioned hardwood!
There are many products out there that look and feel like hardwood, but they’re not. So, let’s clarify what hardwood is. Hardwood flooring is either solid wood or engineered wood.
Solid wood is – you guessed it! – a solid piece of wood between 3/4 to 5/16 of an inch thick.
Engineered flooring is real wood but it’s made using up to a dozen layers of thin slices of hardwood. The layers get glued and pressed together until the thickness is between 3/8 to 1/2 inch.
How Much Does Hardwood Flooring Increase The Value Of A Home?
The carpet or wood floor debate rages on, with both you have pros and cons. Insulation, comfort, all play a part in choosing one over the other. But when it comes to increasing the value of your home, the hardwood vs carpet conversation may surprise you.
You’ve heard for years that hardwood gives you the most bang for your buck, so is it true? The answer is an overwhelming yes!
54% of prospective home buyers say they’re willing to pay more for a house if it has hardwood flooring. 53% of home buyers less than 54 years old said hardwood floors are “very important” when they’re looking at houses.
Installing hardwood floors is pricey, but there’s a good chance your return on investment will make it worth your while. One realtor put the average ROI for getting hardwood floors in the 70%-80% range.
There’s a secret to hardwood floors you may not know and it has nothing to do with opting for laminate or tile. In fact, you may have hardwood floors already and not even know it!
Hardwood could be hiding underneath that old carpet that you’re looking to replace. Refinishing those wood floors is a less expensive option that still increases your home’s value. Reputable flooring stores or installers will offer this service or point you in the right direction if you’re a proud DIYer.
Go With A Different Kind Of Flooring Provider
So, how much does hardwood floors increase the value of a home? It turns out, much more than you thought!
If you’re not sure if you should refinish your existing wood floors or install new ones, Motor City Carpet and Flooring can help. We have three locations to serve you, but if you can’t make it to us, we’ll come to you! Our mobile showroom provides you with unparalleled customer service and convenience.