Homeowners are sometimes hesitant to upgrade when it’s time to sell. After all, you won’t be living there much longer, and home remodeling efforts only increase home values by 57% of the average project’s costs, according to Remodeling magazine’s 2018 Cost vs. Value report.
But think again, sellers. The cost of inaction can be far greater than the small loss you’ll incur on any home-improvement projects. Making small upgrades over time can serves a actually really help a seller. You don’t don’t to break-the-bank alterations, either. A simple update to your color palette can go a long way. Getting stuck in time with your home isn’t a smart move and is rarely rewarded financially when you finally sell your home. In fact, not keeping up with current trends may cause your house to linger on the market longer. As a result, you’ll likely have to pay ongoing mortgage, maintenance and staging costs.
Hardwood flooring: It’s what buyers want.
According to HGTV, the top request of homebuyers and renters when looking for a home is hardwood floors. In fact, a study of homebuyer preferences by USA Today using data from the National Association of Realtors found that 54% of homebuyers were willing to pay more for a home with hardwood floors.
Installing hardwood floors can cost between $9 and $12 per square foot, compared with about $3 to $5 per square foot for carpet — so some homeowners opt to install hardwood floors only in some rooms rather than throughout their home. However, carpet typically needs to be replaced if it becomes stained or worn out. Good quality carpet can last about 10 to 15 years, while hardwood floors can last forever.
The return on investment for installing hardwood floors will vary according to your market and other factors, but hardwood flooring can often help your home sell faster.
According to Kiplinger.com 87% of buyers want this feature.
Hardwood flooring offers a cleaner look, is easier to maintain and is more durable than carpet, which needs to be replaced every eight to 10 years. Hardwood can be refinished periodically and lasts a lifetime.
Sellers on a budget may want to buy engineered wood flooring (which is a hardwood veneer wrapped around several layers of plywood, fiberboard and hardwood). The cost to install 120 square feet of engineered wood flooring is $1,239 — about 15% cheaper than pure hardwood flooring.
Be sure to stop by our newly expanded Showroom and a take a look at our latest selection of hardwood flooring.