Perhaps you’re wondering which kind of flooring to install in your home. If you’d be interested in installing wood flooring, you’re no doubt wondering if it would be worth the substantial upfront investment. One of the most important factors to take into consideration is how wood flooring will influence your home’s resale value.
While no one can guarantee you that wood flooring will boost your home’s final sale price, there’s significant evidence to demonstrate that wood flooring does positively affect a North American home’s resale value. Furthermore, there’s plenty of anecdotal evidence provided by both Canadian and American real estate agents confirming that hardwood flooring also helps homes to sell faster, especially in crowded markets where there’s an oversupply of homes for sale.
54% of Home Buyers Are Willing to Pay More for Wood Flooring
Several years ago, USA today performed a study on data gleaned from surveying potential home buyers in the United States. The purpose of the study was to determine which features were important enough to attract higher upfront offers on the homes the respondents were interested in purchasing.
Hardwood flooring was one of the most prominent items included on the list. An impressive 54% of survey respondents indicated they were willing to spend an average of $2,080 US dollars more in exchange for a home that already had hardwood flooring installed. This feature was most important to the demographic group of home buyers they polled that were between the ages of 35 and 54 years old. It was particularly important to those in the group who were parents. This demographic group found hardwood floors desirable for a number of excellent reasons. One of the top reasons they cited was the ease in cleaning hardwood floors as compared to the challenge of performing carpet cleaning.
Real Estate Agents Confirm That It’s Easier to Sell Homes With Hardwood Flooring
The National Wood Flooring Association surveyed a group of real estate agents. The survey results indicated that homes featuring hardwood floors tend to sell more quickly and easily than houses with other types of flooring installed. They also concluded that homes featuring wood floors usually sell for higher prices.
Author Mady Dahlstrom at Time investigated the topic of which is the best flooring for the money spent on it. The conclusion was clear; hardwood flooring was the obvious winner when considering the likely returns on investment.
So if you’re wondering whether it would be a worthwhile investment to install hardwood flooring in your home, the answer is yes. Whether you plan to live in your home for the long term or flip it and sell it soon, hardwood flooring gives you an advantage either way. The Fuse Flooring is a useful source for more information and insights.