Ask anyone in the hardwood floor industry and they’ll tell you that hardwood flooring is good for home value.
But is that really true? If you’ve got a healthy dose of skepticism, you’ll want more than the word of people who make their living from hardwood floors.
No one knows more about real estate value than real estate agents. So what do they say?
The National Wood Flooring Association asked them, commissioning a national survey of real estate agents. Their answer: 99 percent of agents believe finished hardwood flooring makes a home easier to sell. In other words, according to the people selling homes every day, hardwood floors almost automatically make a home more desirable to buyers.
As far as the actual impact on sales, 90 percent of the real estate agents surveyed said hardwood floors cause homes to sell for more, while 82 percent said they make homes sell faster, which can of course have tremendous financial significance.
What this means is that the cost of the hardwood floors you’ve been dreaming about wouldn’t all be “sunk.” There’s a very good chance you’ll get at least some of the cost back when you sell your home—and possibly most or all of it.
The Enduring Value of Hardwood Floors
When you factor in the added value and marketability that hardwood floors bring to your home—not to mention their longevity— you might be surprised to learn that hardwood floors are actually less expensive in the long run than “cheaper” options such as carpeting or vinyl.
And hardwood floors won’t go out of style. They can always be refinished for a new look, but regardless of the current style, they have a timeless beauty. They’ll certainly never be a turn-off to buyers, like bad carpeting often is.
How Much Value?
Keep in mind that hardwood floors’ effect on home value is influenced by many factors, including:
- General economic conditions.
- The local real estate market.
- The home’s price range.
- The quality of the flooring materials.
- The installation quality.
- How well you take care of the floors (it’s not difficult!).
Nonetheless, you can be sure that if you work with a quality hardwood floor company and maintain your floors properly, your home will sell relatively better with hardwood floors than without—no matter what the market conditions at the time.
Yet as comforting as it is to know the money you spend on finished hardwood floors can add value to your home, don’t forget that the greatest value is intangible—the satisfaction and pleasure you get from the flooring every day you live there.