If you are working towards putting your home up on the market in the coming years, considering the resale value of your home is very important. Even if you believe you are in your forever home that you want to keep in the family for generations, taking care and improving the value of your dream home ensures that you are passing down something special for your children, your children’s children, or your children’s children’s children.
We have talked in the past about some of the home improvement projects with the best return on investment (ROI). You’ll notice that key to most indoor home improvements is replacing and updating your home’s flooring. Flooring really is just that special!
When someone walks into a room, the first thing they are likely to see is the floor. The right floors can spruce up any dreary space, make it feel roomier, or simply add an extra sense of elegance, sophistication, or comfort.
While choosing to update your floors is a great way to get a nice ROI, which flooring has the best resale value? After all, with many different styles of flooring to choose from, it can be difficult to know which one is going to deliver the most bang for your buck.
If you are considering some home updates in the coming in year to help increase the value of your home, these are the floors with the best resale value for you to keep your eye on, according to realtor.com.
Far and away, for flooring with the best resale value look no further than hardwood flooring. Hardwood flooring is long-lasting and beautiful. With styles ranging from dark to light hardwood, hardwood can instantly boost the appeal of any entry area, living room, study, bedroom, and more. What’s more, engineered hardwood flooring provides an even more durable option to natural hardwood that looks just as gorgeous and luxurious. Potential buyers love hardwood.
What makes hardwood flooring so good for resale value? Although a little bit more on the high end of material and installation costs for flooring, that only drives up your bargaining power. Many homeowners can get anywhere from 70% to 80% ROI on hardwood installation projects.
Tile is the number one choice for flooring when it comes to bathrooms. And a newly updated master bathroom with ceramic or porcelain tile is something that can really help drive up the value of a home. But, tile is more for just bathrooms. Tile can be a beautiful addition to kitchens, both on the floor and splash backs, as well as entryways to your outdoor areas. New tile flooring’s sheen and sleakness makes it in high demand from potential buyers.
The beauty of tile flooring doesn’t quite meet the ROI of hardwood flooring because of some of the care requirements tile commands, but it is the clear choice for many home improvement projects. Depending on the kind of tile you use, ceramic being most rewarding, tile can fetch anywhere from 50% to 70% ROI.
Luxury Vinyl Plank Flooring
Skyrocketing in popularity over the last few years is another high-ROI flooring: luxury vinyl plank, or LVP. LVP does something that all other kinds of flooring simply can’t do: everything! LVP is a highly durable, easy-to-install, easy-to-clean, and waterproof style of flooring that provides a look and feel that is almost identical to engineered hardwood flooring and tile. LVP can easily be used in any space in a home, making it the most versatile flooring out there.
LVP is very cost effective to purchase and install, which along with its high quality materials has made it one of the most in-demand flooring styles out there. Buyers will appreciate a beautiful style of flooring that is also extremely easy to care for. LVP is likely to have a similar resale value to that of hardwood flooring projects.
What about carpet flooring resale value?
You may look at this list of all hard surface flooring options and ask yourself “what about carpet?” No one will disagree with the comfort and beauty of new carpet, certainly not us here at Tish. While we love carpet and the way it feels under our feet, carpet simply is not the most ROI-friendly flooring.
Fresh carpet is wonderful, it just doesn’t inspire the same amount of excitement as it once did in the eyes of potential buyers like LVP does nowadays. Unless it is taken pristine care of, the durability and the inevitability of having to replace the carpet someday will be in the front of buyers’ minds.
Now, is that to say there is no value in carpet? Absolutely not! Carpet is one of the most inexpensive styles of flooring and replacing outdated or old carpet in your home can be an instant upgrade, especially if you are on a budget. Think of the value of new carpet similar to that of repainting a room. It gives the area a fresh burst of life and appeal, you just don’t expect a new coat of paint to cause a humongous boost to your resale value.
Need help finding floors to give your home some extra resale value? Let Tish Flooring help you find what you are looking for! We have a long history of working with sellers and their realtors, and will be happy to work with you too. Schedule an appointment online or call 317-879-8474 today!