Hardwood floors are gorgeous
That is why hardwood floors consistently rank on the list of the top ten in-demand features for home buyers. They’re also what attracts and keeps high-quality tenants if you decide to rent out your place. It is also why homeowners often consider adding a hardwood floor when they intend to sell their home. If you are reading this, it may be because you are also considering this option.
But you may also be concerned about the return on investment from installing hardwood flooring in your home. Given that these floors do not come cheap, it is understandable that you would want to know if adding hardwood flooring to your home will improve its value. The short answer is YES.
Do hardwood floors increase home value?
Yes, they do. Adding hardwood flooring to your home will raise the value of your property. What is not specific is the exact amount by which your home’s value will go up. But, on average, you can expect a 3% - 5% increase in value; buyers will pay more for a home with hardwood flooring.
54% of buyers prefer homes with this feature. Especially if the rest of your home is in top condition, hardwood flooring may be the feature you need to add that magic touch to the house. Hardwood floors increase the demand for your property. The increase in demand translates to a higher market value.
Why buyers love hardwood floors
1. Hardwood flooring is beautiful
Hardwood floors have an elegant style that is all their own. No other flooring creates the stunning effect that comes with installing hardwood flooring in your home. This flooring option is not only beautiful but is also natural and exudes a sense of understated luxury. Additionally, hardwood will match any architectural style or interior design. Hardwood flooring is safe and eco-friendly.
2. Hardwood floors are easy to maintainHardwood floors are easy to maintain, unlike carpets, where homeowners deal with stains, tears, dust, bacteria, and allergens. If the floor is swept daily, vacuumed weekly, and mopped regularly, it will retain its shine and value. There are no grout lines or fibers to catch dander or pollen, with hardwood flooring. People with allergies, asthma, or other respiratory difficulties will have fewer episodes due to the floors.
3. Hardwood floors are durableHardwood flooring that is cared for will last decades. If you clean the floor with the right products, care for it in the right way, and refinish it every 5-7 years, you can get good use out of the flooring for at least twenty years. Buyers know they will not need to upgrade the flooring in your home soon after buying it. It is more likely that the hardwood flooring will remain intact until they eventually decide to sell the house.
4. Hardwood floors are agelessEven if some other type of flooring lasts as long as a hardwood floor, the chances that the flooring will go out of style are high. But this is not the case with hardwood floors; they are always in vogue. When you install hardwood flooring in your home, potential buyers know they are not buying a trend. You preserve the property’s value because the flooring will not lose its appeal.
How to get the most out of hardwood floors
To get the most value from your hardwood floors, here are a few things to think about when installing the flooring.
Complementary upgrades: Although hardwood flooring potentially improves the value of your home, this effect does not operate in a vacuum. If the other features of your home are dated or derelict, adding a hardwood floor will not make any difference. You will get the most value from the floor only when you approach the home improvement holistically.
Where to install the floor: The best option is to install the floor throughout the home. But this is not always possible due to the cost of a hardwood floor. Hardwood floors perform best in high-traffic areas, living rooms, dining rooms, and bedrooms.
Type of wood and color: Should you install dark-colored wood like walnut? Or will lighter options like maple or white oak suit your home better? You also have the option of installing red-tinged wood like cherry. The perfect wood depends on your personal preferences and the design of your home.
Take care of the floor: Hardwood flooring will serve you for decades, but you must love the floor by caring for it. Things that will damage your flooring include; walking on it with high-heeled shoes, failing to clip pet claws and nails, leaving liquid spills on it, mopping it with excess water, and neglecting to refinish the floors when it is needed.