When the time comes to move from a home, there are many factors to consider when it comes to a return on investment. One of the top factors for resale value comes from the flooring. Flooring in a home can have a significant impact on its resale value and overall appeal to potential buyers.
Flooring is one of the first things that people notice when they enter a home, and a well-chosen and well-maintained floor can create a positive first impression, which is important for potential buyers. When it comes to the highest return on investment, or ROI, hardwood and tile are the best options to consider. Here are some key considerations when it comes to hardwood and tile.
Hardwood Floors Impact on Resale Value:
Hardwood floors are known for their timeless beauty and elegance. They add warmth and character to a space, creating a sense of luxury and sophistication. Also, homeowners who are selling or have sold a home have reported that adding or refinishing wood floors resulted in a return on investment of 70% to 80% or even higher. Due to this, homeowners were able to sell their homes for significantly more than they spent on the flooring. Hardwood floors are natural, durable, and relatively easy to maintain. They require less effort and cost to keep in good condition over time. With proper care, hardwood floors can last for decades. Their longevity is a significant selling point because buyers often prefer flooring materials that don’t require frequent replacement or extensive maintenance. This low-maintenance aspect is attractive to buyers who want to avoid the hassle and expense of replacing or cleaning carpets.
Tiles Impact on Resale Value:
Tile is a great product to consider when wanting to increase the ROI of your home. When looking at adding tile to your home, it’s important to understand where tiling in the home will create the highest return. When it comes to first impressions, one of the first areas that will be seen is the kitchen. Tile in a kitchen has produced ROI’s often ranging from 70–100% and beyond. A well-designed and durable tile floor or backsplash can be a selling point for potential buyers. Tiling in a bathroom has also been shown to provide a good ROI for potential new home buyers. The ROI with tile in the bathroom typically ranges from 70% to 90%. Tiled showers, floors, and walls are commonly sought-after in bathrooms.
When properly installed and maintained, tile can last for many years, often decades. This means that homeowners won’t need to invest in replacements or repairs, which can increase the overall ROI of the tile installation. Tiles are relatively low-maintenance compared to some other flooring and wall covering options. Regular cleaning and occasional maintenance, such as resealing natural stone tiles, are typically all that’s needed to keep them looking good.
With all this information, the most important aspect to consider is what you, as the homeowner, find appealing when it comes to your floors. It is just as important to consider what the trend is in the market when it comes to what homebuyers are looking for at that time. Getting with flooring professionals in your area to look over options and find out those trends will be the best next step you can take to finding out how your floors can be the most important reason for a higher return on investment when selling your home.