Do Hardwood Floors Increase Home Value?January 5, 2021
Every home is different, but most will agree that any type of flooring plays a huge role in the look and function of a house. While you may not pay much attention to it at first, you definitely notice when the flooring is bad. You might not think twice about bamboo hardwood flooring or oak hardwood flooring, but you’d definitely notice shag carpeting circa the 1980s or laminate and vinyl flooring like you had in college.
If you’re considering hardwood floors and wondering whether they’ll be a good investment for your home, we’ve outlined the research and included a few best practices to make sure you’re making the best decision for you and your family.
Are Hardwood Floors Worth the Money?
Because your return on investment depends so much upon the size of your home, your location and the type of flooring you choose, there isn’t a ton of data on the correlation between home value and flooring. In fact, it’s almost impossible to calculate an exact number. However, most research finds that overall, hardwood flooring will increase your home value. While in some places, hardwoods are still considered a “nice to have” for prospective buyers, in a lot of places, hardwood floors have become essential.
Realtor.com reports that the average ROI for installing hardwood floors can range anywhere from 70-80%, depending on location and flooring layout. Money.com also reports that hardwood floors can increase your home value by 3-5%.
Again, while these numbers may vary from house to house, it’s safe to say that hardwood floors will never decrease the value of your home, while carpeting could.
Why Are Hardwoods So Great, Anyway?
We know that hardwood flooring will increase the value of your home, but what if you’re not looking to sell your home any time soon? One of the benefits of hardwoods and what makes them so appealing to buyers goes far beyond aesthetics.
Yes, in our opinion hardwood floors are timeless and never go out of style. But perhaps the best feature of hardwoods is their durability. Hardwood floors are built to stand the test of time and that is why they remain the king of flooring. If you’re curious about the range of durability in hardwoods, check out our guide here.
Not only are hardwoods durable, but they’re also much easier to clean than carpets. If you have toddlers or pets, you know just how hard removing a stain from carpeting can be.
While hardwood flooring costs may be more upfront, it’s safe to say that the overall investment of hardwood flooring is worth it. Whether you’re hoping to sell your home down the line and know that buyers are expecting hardwood floors or looking to put roots down in your home and know hardwoods are more functional, hardwood floors beat the rest every time.
If you’re curious to learn more about the different types of hardwood floorings available, check out our post on the top flooring trends of 2020 or the main differences between solid and engineered hardwood.