September 28, 2022

Do Hardwood Floors Really Add to Your Home’s Value?

There’s little doubt that hardwood floors aren’t highly popular among homeowners. When someone is looking to purchase a home, hearing that it may have hardwood flooring is usually a plus. And for good reason! According to a survey from the National Association of Realtors, homeowners who install hardwood floors value their homes more. Roughly 80% describe a desire to be at home more afterwards while nearly 70% receive greater joy. But despite this, the question is often asked whether hardwood flooring actually increases a home’s value. Given that the housing market is so active currently, this is certainly a question worth exploring. With this in mind, the following discusses the potential for increased home value from hardwood flooring.

Hardwood Flooring and Home Values

Several different professional organizations have examined an increased home value from hardwood floors actually exists. On average, most of these reports suggest that there is an association. Specifically, having hardwood floors can boost your home’s worth between 3-6%. But as with anything, the devil’s in the details. Some hardwood floors might bring significantly more value if they’re in good shape and well-maintained. Others may not if they’re in poor condition and need refinishing. And then there are a host of other factors that can affect this figure. Homes in neighborhoods in which all the homes have hardwood flooring may not gain any value traction. And even if a home has beautiful hardwood floors but is in need of other repairs, little benefit may be added. Regardless, all things being considered equal, homeowners can expect some increased home value from hardwood flooring in most instances.

Choosing to Install Hardwood Floors

One of the questions some homeowners want to know is whether a newly installed hardwood floor is worth it. Naturally, this questions the increased home value from hardwood flooring. But more specifically, they are also asking about the return on investment potential for their efforts. When answering this question, it requires having some idea about the up-front costs related to the install. In this regard, prices can vary greatly. An inexpensive pine hardwood flooring might only cost three dollars per square foot. But a Brazilian walnut hardwood flooring could cost more than 4 times this price. On average, most hardwood floors cost between four-to-six dollars per square foot. In this range, most homeowners will receive a 70-80% return on their investment. In some cases, this could make enough of a difference in aesthetics and resale to support the project. In other instances, it may not. But these figures can offer some insights about whether the increased home value from hardwood flooring is worth it.

Estimating Hardwood’s Value Potential

Before you go out and decide to install new hardwood flooring for value purposes, it’s worth considering a few things. First of all, such an investment is significant, even with a good return on investment. As a result, it’s important to consider where that investment might be better spent. Kitchen and bathroom remodeling are often better choices for some homes. In addition, it’s also worth considering the maintenance requirements after the installation. A poorly maintained hardwood floor can quickly lose value over time. However, properly maintaining your hardwood floor can bring lasting value for years to come. Thus, making sure you’re committed to proper maintenance is essential. Finally, if your home already has hardwood floors, refinishing them might be a better option than a new installation. In terms of value, homeowners who refinished existing hardwoods receive the same benefits as those with new installations. Without question, increased home value from hardwood flooring can be realized. But before pulling the trigger, it’s worth thinking about other potential options to enhance your home’s value. How cool is hardwood flooring installation austin tx?

Additional Considerations Concerning Value

Before making any decision about whether or not to invest in hardwood flooring, there are a few additional factors to weigh. While costs, real estate markets, and maintenance play a major role, others shouldn’t be ignored. For example, some hardwood flooring patterns like herringbone may look great but date a home. This could turn some homebuyers off. Similarly, your hardwood floor may be exquisite but poorly match the design of the rest of the décor. These nuances are important considerations when thinking about increased home value from hardwood flooring. And in these instances, seeking input from real estate and

 flooring professionals may be worthwhile. Regardless, it’s safe to say that many homebuyers seek out hardwood flooring because it remains a preferred choice. Thus, for a majority of homeowners, hardwood will be a truly valuable asset.