Do you want to sell your house faster and for more money? Everyone wants value for their money when they sell their homes. You want to use every trick in the book to increase your house resale value. Probably you have changed the roof, remodeled the kitchen and have painted the dining room with an appealing shade of grey. What about the floor? You are probably wondering which floor option will help increase the resale value of your house. Hardwood flooring is your best bet for your floors. It is not only the most preferred flooring option, but also increases the resale value of your property. Research shows that hardwood floor can improve the resale value by 2.5%. This is not by any means a small amount since houses in Texas have an average price of $300,000.
Natural Wood Flooring Association recently did a survey on real estate agents. A majority of real estate agents intimated that houses with hardwood floors are easy to sell than those with other types of floors. A study by USA Today also found that houses with hardwood floors were popular with buyers under the age of 55 years and they are willing to pay more for them. It also showed that over 90% of people prefer hardwood floors in their main living rooms. Do you want to put your home in the market? It is time you swap the wall to wall carpet with a hardwood floors even though the hardwood installation cost is higher. The rewards that you will reap from higher resale value will greatly outweigh the installation costs.
What about Return on Investment?
The question that many people ask is about the ROI. Though there is no concrete data on the ROI of hardwood floor but there are some reports that ROI range around 90% to 250%. The report shows that hardwood floor refinishing brings about positive ROI. This is more than kitchen and bathroom remodeling which have a reported ROI of around 60%.
Another benefit with hardwood flooring is that it is a capital improvement project. Therefore, there is less tax levy on properties with hardwood floors. It can vary from one state to another but generally taxes are subject materials used in the installation and not on the labor. Carpet installation, on the hand attracts taxes on the materials used and the labor. You can also benefit in the long run if you decide to sell your home after a long period of time. You can contact your accountant for further information.
In conclusion, hardwood floor investment will prove to be a shrewd investment for you in the long run even though hardwood flooring prices will be higher initially. They are elegant, beautiful and last a lifetime. For the best hardwood floor installation, visit our warehouse if you are a resident of Texas, DFW metropolis or visit our website for the hardwood floors that will give your home an edge in the resale market.