If you’re thinking of selling your home in the near future, then you’ll be concerned about how best to invest money in it. Which flooring has the best ROI? Flooring with a good return on investment may boost the sale price of your home and will make it more appealing to potential buyers.
Here are attractive, quality flooring options that will set your home apart and help you earn top dollar when you put it on the market.
Whether you choose solid hardwood flooring or engineered wood flooring makes little difference in ROI. Choose the one that works best for the location in which it will be installed and your region’s climate (engineered wood for humid locations, engineered or solid hardwood for dry climates).
Hardwood flooring has a wow-factor that some home flooring pros believe will bring back 2+ times its cost when you sell. A more conservative estimate would be 1 to 1.5 times its cost. If real wood isn’t suitable for you home then take a look at ceramic tile that looks like wood which is is enjoying a surge of popularity right now.
By the way, if you currently have old hardwood flooring, refinishing it instead of replacing it can significantly boost your return on investment. This is seriously worth considering as it costs far less to refinish, and the result is the same – a floor with a “brand new” look to it.
If your purpose is to spruce up your home in preparation for putting it on the market, carpeting is a cost-effective choice. Replacing old, worn and possibly smelly carpeting or rugs with new will make a big difference in the eyes and noses of those shopping for a new house. Go neutral on color to appeal to the widest audience.
This one is much like carpeting. If you’ve got floors that need a makeover, using inexpensive vinyl flooring in the kitchen, bathrooms, entry ways and laundry can make sense, especially if hardwood flooring isn’t in the budget.
You may not get a “plus” return on vinyl, but it will give the home the appearance of being well-maintained. You won’t have to increase the sale price of your home to recoup a major expense either. As for color, go the neutral route with vinyl flooring too.
Potential buyers will see vinyl flooring in good condition and think, “that looks good for now, and we can always upgrade it in a few years.”
Your budget and how soon you plan to sell will help determine which flooring option will bring about the best return on investment in your home. Of course, while this home flooring guide is focused on the interior of your home, don’t forget to consider the return on investment of outdoor flooring options as well. Outdoor living spaces are a very popular home improvement investment projects right now.
Other Places to Learn About ROI On Home Flooring
- FlooringInc – Lists best and worst floors for resale value
- Condo Pundit – Identifies several home improvement project returns, and lists flooring as one of the top projects for ROI.
Have you replaced your flooring recently? If so, how much did it cost and do you know if it increased the value of your home? Please share your experience below.