If you’re considering putting your home on the market or are already in the process of selling, you may be looking for quick and inexpensive ways to increase the value of your home. Taking advantage of options like installing the best flooring to increase home value, making improvements to curb appeal, and more can make a huge difference in helping you attract buyers.
Obviously, getting as much as possible is in your best interest, but so many home renovations take a huge amount of time, money, and planning. With so many tasks related to selling a home on your plate already, who could expect you to find the financial or emotional resources to navigate all that?
Thankfully, there is a relatively easy and cost-effective way to quickly boost the value of your home: upgrading your home’s flooring. In fact, according to some real estate experts, new flooring is one of the least expensive ways to increase home value and improve your return on investment.1
But what’s the best flooring to increase home value? In this article, we’ll cover all the best flooring options to help you increase your appraisal value.
If you haven’t yet decided that new flooring is the upgrade you want to invest in, there are a few reasons you should give it a little more consideration. Not only have interior design trends seen significant shifts in the flooring space in the last 20 years, flooring can undergo some serious wear and tear in our homes. Your flooring may not be in ideal shape to encourage a sale.
Flooring, no matter the material, is a powerful statement in the home. It can help a space feel cleaner, brighter, and pulled together — or, if neglected, it can make a room feel dingy and outdated. If you raised kids, had pets, or were lucky enough to get lots of natural light in your home, it’s likely that the floors have taken a hit since they were first installed. Whether it be water damage, staining, scratches from pets or furniture, or discoloration from light exposure, it’s likely your floors — regardless of their material — are ready for a refresh.
The good news is that flooring can be as inexpensive or as decadent as you like. With prices ranging from $2 to $18 per square foot, you’re sure to find an option that works for your budget and, without a doubt, the investment will pay off when you have your home appraised.
But which material should you choose? Does vinyl flooring increase a home’s value? Does hardwood flooring increase home value by significantly more? Read on for the best flooring to increase your home’s value and the cost you can expect to pay to install it.
While there’s a lot to take into account when considering new flooring materials — including your interior aesthetic, the material’s durability, and the functionality of the material within your home — upgrading flooring before selling a home is a little bit different. Rather than choosing flooring that suits your needs, lifestyle, and personal aesthetic, you’ll need to know the cost, current trends, and versatility most of all. Here are flooring options that are sure to wow prospective buyers:
Unlikely to surprise anyone, natural flooring is a well-loved material – and one that can generate a very favorable return on your investment in new flooring, in the neighborhood of 70-80%.2 It’s remained so popular because natural wood is versatile, attractive, and can age beautifully if well cared for.
No matter your design preferences or price point, there’s a natural wood option that will work for your home. Since you’re looking to please as many prospective buyers as possible, consult a flooring professional to help you choose an option that most naturally complements the lighting in your home. This way, no matter what furniture the new owners bring into the space, they’ll be able to easily make it work with the flooring.
If natural wood is out of scope for your budget, luxury vinyl plank (or LVP) is a great alternative. It has the look of natural hardwood flooring, but some versions can be purchased for a fraction of the cost, and this material can prove to be more durable than the real thing.
Since you may be struggling to commit to investing in real hardwood flooring for a home you’re trying to sell, this is the next best option. As with natural wood flooring, luxury vinyl plank comes in a wide range of colors and styles, so you’re sure to find a beautiful option that suits your space as well as your wallet.
Beloved for its versatility, functionality, and affordability, vinyl flooring can make a drab room feel cleaner and more modern. While it sometimes gets a bad rap from overuse in the 1970s, advancements have made it possible to manufacture vinyl flooring that looks like more luxurious materials like stone and wood, broadening its appeal in the process. Although it’s certainly not as likely to increase home value as hardwood, vinyl could definitely boost your number if employed well.
This material is less traditional than the above options, but has a winning aesthetic appeal and versatility that appeals to buyers. This is not only because of the beautiful variety of patterns and styles that can be achieved with the material, but also because of its waterproof characteristics. Waterproof flooring is great for busy families, and especially those with young children.
Another highly popular option at the moment is eco-friendly carpeting.3 Not only is this an incredibly reasonable flooring option, but it’s also made from recycled materials like plastic bottles, fishing nets, and other materials that would otherwise be destined for landfills. Not only can this flooring pull a room together and enhance home value, but it’s also a serious draw for environmentalist home buyers.
In today’s remodeling landscape, there’s no shortage of flooring options to choose from, and choosing the best flooring to increase home value is always a smart move. Thankfully, through extensive research and innovation, there’s also a wide variety of options that can improve the look and feel of your space without breaking the bank or falling below standards of quality — something we couldn’t say about some of these options a decade or two ago. No matter which you choose, you won’t regret investing in refreshing the flooring of your home. It’s a surefire way to increase your home’s value before putting it on the market.
Source 1&2: HomeLight: "Does New Flooring Increase Home Value?" Accessed January 25, 2023.
Source 3: FlooringInc: "Flooring Trends." Accessed January 25, 2023."
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