Hardwood Flooring Increases Home Resale Value
Flooring, regardless of the type, is the focal point of nearly any home and ties the rooms of a house together. And the right flooring can add value to a home now and in the future when it comes time to sell.
Wood floors add beauty and charm, and its character and sophistication is hard to match. The rule of thumb on flooring is the most resilient and long lasting, the higher the upgrade, but the higher return is on investment – wood flooring, solid and engineered, is on the higher end of the spectrum.
A study of home buyer preferences by USA Today, using data from the National Association of Realtors found that 54% of home buyers were willing to pay more for a home with hardwood flooring. Homeowners have also seen a higher return on investment if they sell their home with new or refinished hardwood floors.
Likewise, a survey by the National Wood Flooring Association echoed this, with a majority of real estate agents saying houses with hardwood flooring are easier to sell, sell for more money and sell faster. Anecdotally, this is especially so when homes have wood flooring in key rooms, such as living room, dining room and family room, as well as master bedroom.
While the up-front cost may be higher, hardwood flooring can greatly impact resale value. There is no doubt that wood flooring brings a “wow” factor to a home.