Renovating your house with the intention to sell is risky. Not all additions you make to the property will result in a significant interest or asking price. In some cases, an addition may even dissuade a potential buyer from making a purchase.
Flooring is one feature that can either raise the value of a house or send a potential buyer running in the opposite direction. It also is often a feature neglected by sellers when preparing a house for a sale.
What type of flooring do prospective homeowners want? Find out below.
More people are choosing vinyl flooring because of its many benefits. First, it is cheaper than other, more popular, flooring options like hardwood. However, when properly installed, vinyl planks look natural and realistic. Even when placed side-by-side with real hardwood, no one would be able to tell that it is vinyl.
Families with babies might also prefer houses that use vinyl instead of stone tiles or concrete flooring. The material is far more comfortable than other options available in the market today. It is slightly softer so that, in case a toddler, who is just learning how to walk, makes a tumble, it would not hurt as much.
Buyers who have pets, or planning to adopt pets, might go for vinyl, too. The material is known to be scratch-resistant, perfect for a family that has energetic dogs and cats.
Moreover, vinyl is a lot easier to clean. When liquid spills, you would not have to worry about stains. Just grab a damp cloth or a mop to wipe the mess away.
Vinyl is only increasing in popularity year per year. A 2017 report by Floor Daily found that, in every category of flooring considered, luxury vinyl reigned supreme. In 2018, Floor Covering News revealed that resilient flooring, which is the term used to refer to all synthetic flooring options, make up 22% of the flooring market — a 185% increase since 2010.
It is safe to say that, once you decide to put your home in the market, having vinyl as your flooring would not be the wrong choice.
Of course, wood flooring is still the most popular option out there. It is durable, versatile, luxurious, and will likely remain stylish for years to come. It is also quite expensive, but many buyers would not hesitate to pay more just to have it in their homes.
The return of investment, or ROI, on wooden floors is about 70% to 80%, according to Realtor. Having wood flooring can increase the resale value of your house by up to 2.5%.
A 2019 report by the National Association of Realtors said that the fourth and the sixth interior projects that appeal to buyers the most are new wood flooring and hardwood flooring refinish respectively.
However, it would not be cheap. The popular woods like oak and walnut cost about $5 to $10 (about 3.8 to 7.7 GBP) per square foot. You will have to pay more for installation.
In addition, it is subjected to wear and tear. While it is durable, eventually, it will lose its vibrancy and lustre. You would need to spend more on recoating in order to keep it looking good for years to come.
Wood is not for everyone. In places that experience humid weather regularly, the natural material is not advisable because it may warp and rot.
The next best options are ceramic and porcelain tiles. These types of flooring are extremely versatile; homeowners can have it installed in the kitchen as flooring or backsplash, bathrooms, and outdoor living spaces. They also come in different sizes, colours, designs, and finishes.
Ceramic is not cheap either, but most of its cost goes toward installation. If you can do it on your own, you should be able to save a lot of money but get a 70% ROI.
Porcelain is a more premium flooring and, therefore, has a higher price tag at $18 to $32 (about 13.8 to 24.5 GBP) per square foot. Plus, the installation can get pretty expensive. Despite the cost, the ROI of porcelain tiles stands at about 55%, according to Realtor.
What About Carpet?
Carpets may turn a buyer away. It is one of the cheapest flooring options out there, but it does not really improve your house’s chances of being sold.
It does not really age well. The material tends to capture every dust, dirt, and debris inside the home. It also does not get as clean as the day you bought it no matter how often you vacuum it.
However, in some cases, it might help. Like paint, installing carpet in a room can spruce it up and make it more attractive. It has to be new or else it may not effectively convince the buyer to close the sale.
When determining which flooring suits your house best, first evaluate the current value of your property and the average price of similar properties in the same neighbourhood. You want to, as much as possible, fit the price. Otherwise, your investment will be for nil. Buyers would not want to buy a property that is too expensive just because it has hardwood flooring.