If you’re looking into potential interior remodeling projects in your home, you might be considering how your ideas could benefit your home’s resale value. When you sell your home, you want all of the improvements you make to it now to help you get a higher sale price in the future. Determining how the home projects you take on might impact that sale price is key.
Luckily, installing new flooring is one of the most rewarding home improvements with an impressive impact on your resale value. In general, replacing old, worn flooring with a new option always boosts your house’s resale value. However, some flooring makes more of an impact than others. Check out the best flooring resale value in 2023 and beyond.
Does New Flooring Increase Home Value?
Calculating your home’s resale value means comparing the durability, style and versatility of the key features in your home. While one trendy addition to your home might have been rewarding years ago, its value can change over time. To find which flooring options add the most resale value to your home, the most efficient way is to determine the return on investment (ROI).
The ROI tells you the percentage of profit you can expect to make based on how much you invested into the project and the amount you’ll receive when you sell your home. With so many flooring options to choose from, you can base your shopping experience on the highest ROI to benefit your future selling plans and enjoy a beautiful new floor in your home now.
How Hardwood Impacts Home Resale Value
Hardwood has one of the most impressive home resale values. Its timelessness, durability and quality make it an excellent choice for a remodeling project. Plus, with the many types of hardwood, including oak, cherry and bamboo, you can enjoy styles that fit perfectly with your home’s interior aesthetic.
Installing hardwood floors before selling offers homeowners about a 147% return on their initial investment. Potential buyers note hardwood’s high longevity and typically pay more for homes with quality hardwood floors as a result. With the high ROI and the continued attractiveness of hardwood flooring for homeowners and future buyers, hardwood floors will remain one of the best flooring options for resale value in 2023.
Adding hardwood to your interior decorating plans can offer you a more significant profit when you sell your home.
How Carpet Impacts Home Resale Value
If you’re interested in comfortable flooring for living rooms, children’s play areas or bedrooms, carpet is an excellent option that offers soft textures, versatile color palettes and varying heights. This flooring option is a favorite among those looking for affordability and comfort for gathering areas in the house.
Because carpet tends to shift in popularity, carpet doesn’t have a specific ROI percentage. However, this lack of data doesn’t reflect the quality of this flooring option. Carpet is one of the most affordable flooring options on the market, making your investment into this flooring material and installation lower than average for new flooring.
Carpet can also add flair to your living spaces with various textures, patterns and colors to match your home’s interior designs. Although carpet may not have ROI data, you can still enjoy the many benefits of installing this flooring option in your home for all family members to enjoy.
How Tile Impacts Home Resale Value
Adding tile to areas in your home with high moisture levels offers easy cleanup and a decrease in water damage compared to other floors. This advantage makes tile flooring stand out to potential buyers, especially in the bathroom and kitchen areas.
If you plan to install tile flooring in your bathroom, you can expect an ROI of 68%-70%. While this number means potential buyers may not prioritize tile flooring when looking at your home, you can enjoy this stylish and durable option now in bathrooms, kitchens and other living spaces.
With tile flooring in your home, you experience several benefits, including affordability, durability and versatility. Ceramic and porcelain tile come with scuff, chip, stain and dent resistance and can make your living spaces easy to maintain for 30 years or longer.
Does Laminate Flooring Increase Home Value
Laminate flooring has made an impressive comeback in the past few decades with versatile styling options and durability that homeowners prioritize. If you’re looking for flooring choices that resemble natural hardwood or tile at a fraction of the cost, laminate does just that.
When you choose to sell your home, laminate floors can provide a rising ROI between 78%-91% that has the potential to reach the same popularity as hardwood flooring in coming years. Laminate flooring, with an ROI that almost breaks even, is a quality choice for new floors. You can also enjoy higher durability with waterproof properties that prevent water damage to your most used living spaces.
How Luxury Vinyl Impacts Home Resale Value
Luxury vinyl flooring continues to impress homeowners with its high durability, low installation costs and ability to mimic hardwood and tile. Saving money on your new floors is most likely one of your top priorities. Luckily, luxury vinyl floors can fit the bill with more economic benefits than other flooring options.
Like carpet, luxury vinyl flooring doesn’t offer a specific ROI. However, luxury vinyl allows you to enjoy water-resistant, durable floors in your home with realistic appearances that resemble wood and tile. These higher-quality floors can make your living spaces come to life, potentially gaining you a significant profit in the future.
Increase Your Home Resale Value With 50 Floor
If you’re interested in new flooring options in your home that offer a higher home resale value, 50 Floor can help! Our wide selection of floor types and styles can offer the versatility, durability and ROI you desire. Selecting your next floor is easy with our Flooring Buying Guide, which lets you compare costs, protection, appearances and many other flooring benefits.
If you want to see how different flooring options look in your home, schedule your free in-home consultation today.