Which Type of Floor Has the Best ROI?

roi-floorsAny improvements that you make to your home should all be done with return on investment, or ROI, in mind. For example, while you might spend money renovating a bathroom or finishing the basement for your personal preference, these are two projects that are also going to increase the value of your home when or if you go to put it on the market. And while you might that something as seemingly unobtrusive as flooring can play a big role in resale value – think again.

So when it comes to flooring, you may be wondering what the best type is when ROI is considered. Here’s a closer look:

Hardwood Flooring

Hands down, the No. 1 flooring type in terms of ROI is hardwood flooring. According to a recent survey from the National Wood Flooring Association, up to 99 percent of real estate agents surveyed said that homes with wood floors are more sought after compared to alternative flooring styles, potentially bringing back twice the cost of installation. Why do homeowners like wood flooring so much? Obviously, for the clean look. Another benefit is that it doesn’t trap allergens as easily as carpeting, and it’s softer to stand on than tile.

There are two main types of wood flooring that have similar ROIs – solid hardwood flooring and engineered wood flooring. The former costs anywhere from $3.50 to $12.95 per square foot (not including installation), but is true, 100 percent wood. The latter is a bit cheaper, likely saving homeowners $2-$3 per square foot in materials and labor, but is a composite material made of several different layers of wood and layered with a hardwood veneer material.

Carpeting

In the 1950s and 1960s, wall-to-wall carpeting was extremely popular in homes. Today, they’re second place to wood flooring. Now, carpeting won’t hurt the resale value of your home (unless it’s stained, worn or smelly), but it’s not going to help it along the lines of wood flooring. In fact, many homes that have carpet installed over wood flooring often rip up the carpeting before putting the home on the market to show off the wood floors.

Vinyl/Ceramic

These two options are inexpensive and somewhat hit-or-miss with consumers. Many potential buyers will see a well-maintained floor that they can improve on later if necessary. However, other buyers may see a homeowner who has cut costs on this aspect of the home as a means of making it look presentable enough for sale.

Regardless of your flooring type, one thing is certain – if it isn’t properly cared for and maintained, you’re not going to get the maximum ROI out of it. So be sure to stick to a rigorous cleaning routine, and be sure to call the professionals at least once every 6 months to deep clean the carpets or finish the hardwood floors.

 

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