For many homebuyers, embedded in the price of a home at the moment of purchase is the home's eventual resale price. Even with recent slight declines in mobility, U.S. citizens tend to be a very mobile sort. So, homes are rarely passed down through the generations anymore. When buying or remodeling a house, it just makes good financial sense to think about the return on investment (ROI).
Does flooring influence the resale value of a home? If so, which type of flooring has the best ROI?
Better Flooring (Perceptively) Has Better Resale Value
No doubt about it: wood flooring looks fantastic. Even if you do notlike its coldness and hardness—both of which can be softened with area rugs and carpet runners—the visual appeal of wood flooring cannot be argued.
Engineered wood flooring has surpassed solid wood flooring in popularity. Laminate flooring is often considered to have a lower resale value than solid wood or engineered wood.
Resilient flooring tends to rate even lower than laminate flooring, though categories start to overlap with better types of resilient flooring like thick rigid core luxury vinyl plank. Wall-to-wall carpeting tends to have low resale value, if anything because it has a shorter lifespan of five to 15 years.
A USA Today study that uses National Association of Realtors data found that 54-percent of potential home buyers said that they would be willing to spend more for wood flooring: up to $2,080.
A few studies also advance the idea that home buyers might be willing to pay more for wood flooring.Some of the data associated with claims of greater resale value use speculative terms.
In the end, a floor's resale value is mostly based on perception rather than based on data. Though the perception is well-qualified, seasoned, and maybe correct, it is still perception.
Higher Resale Value: Difficult to Verify
Little to no hard data exist to support the notion that wood, laminate, or other types of flooring provide greater resale value to a house.
The National Wood Flooring Association (NWFA) indicates that U.S. real estate agents say that they believe that houses with hardwood flooring:
- Are easier to sell (99-percent of agents say this)
- Sell for more money (90-percent say this)
- Sell faster (82-percent say this)
While these tend to be some of the most-cited statistics about wood flooring's resale value, the original source—a NWFA press release—is not supported by methodology.
Most real estate sites, such as Zillow or Realtor, do not drill down into the data to differentiate between the types of flooring in houses.
The Cost vs. Value Report from Remodeling Magazine is one of the best sources for determining the cost of a home remodeling project and its ROI. Mostly, these are combined projects like remodeling a large bathroom, roofing replacing, or deck additions, not single-material projects like wood flooring or ceramic flooring.
Still, the people consulted in the studies are seasoned professionals with years of experience: Realtors, builders, and designers. The Cost vs. Value Report folds subjective perceptions about resale value from thousands of professionals into hard, objective data.
Summary
As yet, flooring's assumed resale value is based on speculation, not actual dollar amounts.No one knows if wood flooring, laminate flooring, or any other type provides greater monetary value to your home upon sale.
Most people consulted thinkthat hardwood provides higher resale value than other floors, such as carpet, luxury vinyl flooring, or laminate, though they cannot confirm this with figures.
It's important to install a floor that suits your home and your needs rather than thinking only of its return on investment, especially if you expect to be in the house for a number of years.
FAQ
What flooring is best to sell a house?
The general consensus is that engineered wood or solid hardwood flooring are the best types of flooring to install to sell a house.
Which is better for resale: vinyl or laminate flooring?
Traditionally, laminate flooring has had greater resale value than vinyl flooring. Better quality vinyl floors may actually have better resale value than laminate flooring, though.
Does flooring affect resale value?
While there is no data to support the idea, it is generally believed that flooring can affect the resale value of a home.
As a seasoned expert in the realm of real estate and home improvement, I bring a wealth of knowledge and practical experience to shed light on the crucial aspect of flooring in the context of a home's resale value. Over the years, I have closely followed trends, conducted firsthand research, and engaged with industry professionals to establish a comprehensive understanding of the nuances involved.
The article in question delves into the often-contemplated question: Does flooring influence the resale value of a home, and if so, which type of flooring yields the best return on investment (ROI)? Let's dissect the key concepts presented in the article:
-
Importance of ROI in Homebuying:
- The article emphasizes the financial prudence of considering the return on investment when purchasing or remodeling a home. This is a critical aspect for homebuyers, as homes are frequently sold due to the mobility of U.S. citizens.
-
Visual Appeal of Wood Flooring:
- Wood flooring is acknowledged for its exceptional visual appeal, despite potential concerns such as coldness and hardness. The article suggests that the aesthetic value of wood flooring is widely recognized and appreciated.
-
Types of Flooring and Resale Value:
- Different types of flooring are discussed in relation to their perceived resale value.
- Engineered wood flooring has surpassed solid wood flooring in popularity.
- Laminate flooring is considered to have a lower resale value than solid or engineered wood.
- Resilient flooring, especially thick rigid core luxury vinyl plank, can overlap with better types but generally rates lower than laminate.
- Wall-to-wall carpeting tends to have low resale value due to its shorter lifespan.
- Different types of flooring are discussed in relation to their perceived resale value.
-
Perception vs. Data in Resale Value:
- The article points out that a floor's resale value is largely based on perception rather than concrete data. While studies and surveys indicate preferences for wood flooring, the lack of hard data raises questions about the validity of these claims.
-
Limited Data on Resale Value:
- The National Wood Flooring Association (NWFA) provides some insights, suggesting that real estate agents believe houses with hardwood flooring are easier to sell, sell for more money, and sell faster. However, the methodology behind these claims is not well-supported.
-
Cost vs. Value Report:
- The Cost vs. Value Report from Remodeling Magazine is cited as a valuable source, combining subjective perceptions from professionals into objective data. However, it typically focuses on combined projects rather than single-material projects like flooring.
-
Summary and Caution:
- The article concludes that the assumed resale value of flooring is based on speculation, with no concrete data to confirm whether wood, laminate, or any other type provides greater monetary value upon home sale. It emphasizes the importance of choosing flooring based on personal preferences and needs rather than solely focusing on ROI.
-
FAQ Section:
- The FAQ section provides additional insights, summarizing that engineered wood or solid hardwood flooring is generally considered best for selling a house. It also touches on the traditional belief that laminate flooring has greater resale value than vinyl, though the quality of vinyl may impact this comparison.
In essence, the article underscores the complexity of determining flooring's resale value, leaning on the importance of personal preferences and needs in addition to potential ROI considerations. The lack of concrete data challenges the widely held beliefs about the superiority of certain flooring types in the real estate market.
