Does adding hardwood floors add value to your home? This is a very good question that comes up often. Most people would agree that they for sure do add value to a home. Although the answer is quite simple, the explanation may need to go a little further.
How much more does it cost?
Hardwood flooring can be more expensive and even more of a job to install, so I can understand why some would be hesitant about spending out the extra money. But, when looking at the pros of hardwood that far outweigh carpet or even most other flooring options, I feel it is well worth it.
Hardwood flooring can run anywhere between $9-$12 dollars including installation, where carpet usually costs between $2-$12. Of course, this all depends on style, grade, etc. Other floorings such as tile could run between $7-$14 dollars which are fairly comparable to hardwood.
Pros of Hardwood Over Carpet and Other Flooring
Now that we know hardwood is quite a bit more expensive to install and purchase, why do we personally feel it will add value to a home and why spend the extra money? The first thing would be from a visual-only standpoint. I think most would agree that hardwood is more of a classic, clean look. It also adds lots of visual interest and character. Most people consider hardwood to be more of a high-end luxurious option.
Another great thing about hardwood is that is is easier to clean than a flooring like carpet or tile. A spill is super simple to wipe up and with kids, this is really important. Not to mention, carpet tends to hold dust, dirt, and pollen within the fibers. Carpet is definitely not a wise decision to have with pets that shed a lot. It is much easier to see dirt on the hardwood which in return is easier to keep clean when you know it is dirty. With tile, the grout tends to stain with spills and can be very hard to clean.
The durability is another huge factor to consider when looking at hardwood versus carpet or tile. If you install a good hardwood, it is made to last for even up to 100 years if taken care of. Carpet, not so much! Most of the time the carpet will need to be replaced every 5-15 years due to stains, rips, tears, and other damage that hardwood would rarely see. Scrapes and stains on hardwood can easily be buffed and refinished to look brand new.
How Much Value Does it Actually Add to Your Home?
Whether putting your home on the market to sell now or maybe 10 years down the road, adding hardwood flooring is a great option that you will definitely get a return on. It is projected that you will get a 70-80% percent or more return on the total price you spend out.
For example, if you spend $20,000 dollars on buying and installing hardwood for your home, expect to be able to mark the price of your home up $14,000-$16,000 dollars. This is a very wise investment. Not to mention, most people are seeking homes that have hardwood over any other flooring.
Although I could keep writing facts and thoughts on how I think choosing hardwood is a great investment and option, let me apply it to what we have experienced. With every single build and remodel, making sure a majority of the home has hardwood is on the top of our list. Not only do we know it will sell quicker, we know we can get more out of a home that has great looking hardwood. The fact is people love the look and the quality of hardwood!