If you’re entering the market to sell your house, you want to get the best price possible for the minimum amount of investment. Is hardwood flooring an investment? Many realtors will tell you that hardwood flooring will definitely help sell your house faster and for more money. There are many reasons that buyers like hardwood floors, but adaptable beauty is probably at the top of this list. Hardwood flooring acts like a blank canvas that a potential buyer can imagine harmonizing with their own lifestyle without any expensive or extensive renovations. To learn more about using hardwood flooring as an investment, check out this article.
The Numbers
A review of the literature suggests that hardwood flooring can add an extra 2.5% of a house’s buying price. For a $300,000 house that’s a cool extra $7500. Of course, it’s pretty hard to find a $300,000 home today, so you could end up making a lot more. Depending on the size of the area and the type of hardwood used, you could realize up to a 70 or 80% return on investment. Try getting that kind of return in your mutual funds! A benefit of the hardwood flooring that isn’t so easy to accurately quantify is the speed in which your home sells. But most realtors agree that homes with hardwood flooring sell much faster than those that use other flooring materials – especially in the living rooms and kitchens.
Hardwood Flooring Benefits
Solid hardwood floors are extremely durable. They can end up lasting longer than the homeowners themselves. If they become damaged, scratched or scuffed, they can be spot-repaired many times over. The same can’t be said for most other types of flooring materials. Solid hardwood provides a pleasing underfoot feel and will be warmer and quieter than cheaper laminate floors which are meant to replicate the looks of hardwood. Hardwood is easily cleaned and maintained and won’t trap dust and other allergens in the same way that carpet does. Nor will you have to worry about toxic off gassing that’s so common with new carpets and rugs.
