When you’re selling a home, any cent you spend on renovation boils down to one thing: return on investment. Renovating should increase property resale value, help your house move faster on the market, and increase your profit at less cost.
A survey by the National Association of Realtors found that customers are willing to pay extra for features, like master bedrooms with walk-in closets and decked-out kitchens with stainless steel appliances. However, those renovations are complicated and expensive. If you’re on a tight budget, real estate agents recommend replacing floors.
“Flooring, in my opinion, is always a low-cost expense, yet you get a higher return on your investment,” says veteran real estate agent Leighann Russell.
“Flooring matters tremendously when selling a home,” says Stephan Burke, a director of luxury real estate. “It immediately influences if the buyer will like the house as they walk into every room, hallway, and even exterior patio.”
The following types of flooring can upgrade a property’s look and price.
Flooring to Increase Property Resale Value
Three out of 10 homebuyers between the ages of 35 and 54 said hardwood floors were “very important”, and realtor experts say that it can increase your sales price by as much as 2.5%. While they’re more expensive than other flooring, your ROI is about 70% to 80%.
For some kinds of homebuyers, hardwood floors are a must. A study by the National Association of Homebuilders found that 87% of buyers in the $100,000 to $149,999 price range prefer homes with wooden floors. Families with young children also prefer them to carpets, because they’re easier to clean.
When shopping for hardwood floors, research what’s popular in your area. For example, New York realtor Fiona Dogan says that wide-plank floors are preferred in the Northeast. Ask interior designers about the latest trends. In 2019, charcoal black, gray, and white became more popular, and the distressed or bleached finish appealed to homeowners who wanted that “luxury aged look.”
If you’re on a limited budget, you can repair existing floors, or install them in the most visible areas of the home, like the living room and hallway. You can also get good prices at BuildDirect, or ask your customer representative for hardwood look-alikes.
Laminate flooring appeals to homebuyers who want durable floors that are easy to clean. It doesn’t scratch or fade easily, and just needs a quick swipe with a slightly damp mop.
From a builder’s perspective, laminate is affordable and easy to install. If you want to quickly turn over the property, with minimal investment and cost, this may be the best option. You can pick from BuildDirect’s large catalogue to find the laminate color and finish that will fit with the rest of your interior.
“Replace sheet vinyl with ceramic tile, and ROI might be 200%,” says Alex Biyevetskiy, home remodeling expert.
The appeal lies in both its durability and its endless design options. “Solid tiles can be mixed-and-matched in patterns or accented with custom designs or motifs. They can also be printed to reproduce the look of many hardwoods and natural stones. Finally, the tiles, themselves can be cut and shaped into triangles, rectangles, and planks,” says flooring expert Joseph Lewitin in an article for design website The Spruce.
With the help of a good interior designer, you can use affordable ceramic tiles to create a very luxe-looking floor. Homebuyers will also appreciate that it’s easy to clean and resists moisture.
Find Flooring for Your Next Renovation
BuildDirect has over 4,000 types of flooring, sourced directly from manufacturers. You can save up to 50% on retail cost, and find many choices for every price range. You also can get unlimited free samples that we ship to you within 24 hours. Find out more about Build Direct’s Pro Rewards program.