How Much Do Hardwood Floors Increase Home Value

It is generally considered that when wondering how much do hardwood floors increase home value.

How much do hardwood floors increase home value. That is quite the jump. According to a survey conducted by the national wood flooring association real estate agents agreed that homes with hardwood floors are easier to sell and sell for more money up to 10 more than an identical home without wood floors. Hardwood floors can add up to 2 5 to your home s value.

They re durable versatile and most buyers love them. Now any buyer who walks into a home will no doubt gush over the gorgeous hardwood floors if your home can offer it. Hardwood improves the value of your home much more than laminate in fact it s not clear if laminate will improve the value of your home and this may depend on the neighborhood it may have a modest impact in lower end areas and may have no impact or potentially negative impact in high end areas.

The phrase wood is good is often thrown about in real estate circles. 54 of home buyers are willing to pay more for hardwood floors when buying a house about 2 080 extra according to data from the national association of realtors. For perspective as a general rule of thumb hardwood floors often cost 30 50 more than laminate floors.

Data on home sales shows that installing hardwood flooring can increase a home s value by as much as 10 000. According to real estate experts the average roi for installing hardwood floors is. When considering how the flooring affects home value there s more than enough of a return to make the investment worthwhile.

You can expect to see between a 70 80 roi on your hardwood floors but the best roi comes as you enjoy the low cost upkeep of the floors. Now remember that it s only one part of raising the housing value and a lot of other things can affect that number such as poor layout a bad flooring job or outdated tiles and wallpaper. What you save in the short term by installing laminate will affect the resell value of your home in the long run by increasing the value only by roughly three and a half thousand dollars compared to hardwood flooring which will return you over four times that amount.