Do Hardwood Floors increase a home’s value? Whether you invest in real estate or stocks, the aim of any investment is to produce a high return and to put more money in your pocket than you had before. If you’re a homeowner, the addition of value to your home may be beneficial even if you are not currently planning to sell. You might consider installing and refinishing hardwood floors to certain rooms of your house when looking for ways to boost your home’s value.
Let’s look at what hardwood flooring can do for your home value and how else you can do to maximize the ROI.
Hardwood floors: Are they worth the investment?
Clearly, hardwood floors are attractive, which is why you’re considering installing them. You can add a touch of class and glam to your home when you install these.
- Is this the only reason homeowners prefer these floors over the carpet or other flooring materials?
- Are there any practical benefits that hardwood floor offers?
- Is there a hardwood flooring company near me that offers good service?
Hardwood floors not only increase the value of a home as well as offer several benefits over other materials like vinyl, laminate, and carpet.
By installing and refinishing hardwood floors in your home you will not only enhance the look of your home but also improve the air quality, which is usually poor with carpeting.
Once the flooring is completed at your home, you would not need to spend much time and energy maintaining it.
A well-maintained floor can last several decades if properly cared for — such as using the right products and refinishing every five to 10 years.
Additionally, hardwood floors have no grout lines or fibers to collect pollen, dander, dust, or debris, so they are ideal for allergy sufferers.
It is possible that the increase in value of your home won’t offset the cost of adding hardwood floors, yet hardwood floors are considered to be among the best for increasing property values by about 70%-80%.
Hardwood flooring is worth the investment in the long run if you plan on eventually selling your house for a higher price than you originally paid for it.
McGavin Hardwood Flooring is one of the trusted home flooring contractors serving Muskoka, Forest Hill, Rosedale, and Greater Toronto Areas in Ontario, Canada.
Hardwood floors and ROI: Things to consider
In order to maximize the benefits of installing and refinishing hardwood floors in your home, you should take several factors into account when making the change.
1. Hardwood floors are not all the same
Hardwood floors come in many types, each with a different design and return on investment.
There are various types of hardwood flooring that you can choose from, including black cherry, rusty-hued heart pine, and white ash.
Flooring materials with a higher cost also have a greater likelihood of generating a high return on investment.
Invariably, higher initial expenditures result in a greater value being added to your home.
2. There may be other renovations worth considering
In terms of adding value to your home, hardwood flooring in Forrest Hill is among the best renovations that you can make, but there are some other improvements that could be more impact.
Kitchen remodels, bathroom remodels, adding insulation, and updating HVAC systems can also boost your home value. It would still be best to look at all your options before choosing hardwood flooring if your budget can only cover one major type of renovation.
3. Consider the flow between rooms
It is important to consider first how your home will look and feel once the new hardwood flooring is installed if you decide to use it in your home.
You should understand how this flooring will affect other areas of your home and whether your home’s style will work with it.
To ensure seamless transitions from one room to another, some surfaces may have to be refinished.
Despite being suitable for many interior design styles, hardwood flooring does not work well with Hollywood regency, bohemian, and eclectic styles.
Prepare a detailed budget before you begin any of these home improvement projects. Additionally, if you are unable to complete the work on your own, you need to hire the right flooring contractor in Forrest Hill.
Your home flooring contractor should be familiar with the type of home improvement project you are planning. When you purchase hardwood flooring from a home improvement store, they should provide you with a qualified installer. If you keep these tips in mind, you should be able to begin your home improvement project without too much difficulty.