Spring and summer are “peak season” for the housing market. It’s the time of year when home buyers are actively looking, and sellers are likely to get the best price. If you’re planning to list your home for sale this year, you might be wondering whether installing wood floors (or replacing existing wood flooring) is a good investment to help sell your home.
The short answer is “yes”—but there are a few qualifiers. Let’s explore the subject a bit more.
Sale-ability versus Value
Having wood floors will definitely improve your chances for a quick sale of your home. In fact, about eighty-seven percent of home buyers place hardwood flooring at or near the top of their priority lists when looking for a home. That said, installing brand-new hardwood flooring is a bit of an investment. While it will add to your home’s overall appraisal value, there’s not a lot of clear data as far as what your actual return on investment will be once you have the floors installed.
Try Refinishing Existing Floors First
If you already have wood flooring in at least a few rooms of the home, you may have an advantage already. Even if the floors are looking worn, refinishing the floors might be a better alternative financially to replacing them outright. Refinished floors can often be made to look new, and vintage flooring can actually be a strong selling point. An experienced wood flooring professional can advise you on whether your floors can be refinished.
Consider a Neutral Look if Installing New
If your current floors are too damaged for refinishing, or if you simply want to invest in hardwood floors strictly to help sell your home, you might want to go with a more basic look, rather than a custom design. Not only is this more cost-effective (custom floor designs can be costly both in labor and materials), but it creates a more neutral palate for prospective buyers to envision themselves living in the home. “Basic” does not mean “cheap-looking,” by the way. Even a simple, “no-nonsense” oak floor can be made to look stunning when installed the correct way.
Playing the Long Game
If you choose to install a more expensive wood or a custom design, you may increase the “wow” factor of your home for resale purposes, but the cost may cut into your profits a bit, at least in the short term. We install some great-looking custom floors, but for best results we recommend installing these floors for yourself and family first. Enjoy the floors yourself for a few years, take good care of them and let your home appreciate. When you do decide to sell, your floors will then be a powerful selling feature that can also boost your asking price.
In doubt about whether to refinish your existing floors or install new ones? We can help! Give Renaissance Hardwood Flooring a call today at 918-298-4477.