Many homeowners across the country look at hardwood flooring as the golden standard for residential flooring solutions. They are not wrong. Hardwood flooring is an incredibly elegant, effective option for almost any room in the house. It is durable, simple to clean, and its appearance is exceptional. However, many homeowners see hardwood flooring as an investment, though it’s worth noting that hardwood flooring can pay off exponentially when it comes time to sell your home. The return on investment is often well worth the installation and materials cost.
Hardwood Floor ROI
If you are the type of homeowner who wants to invest in hardwood flooring to increase property values, then you should look at the numbers, first and foremost. On average, hardwood flooring has an averagereturn on investment in the 70%-80% range. Of course, this varies depending on flooring layout, property location and other factors. However, according to experts, a professionally installed hardwood floor can add 2.5% to the overall sale price of your home. Typically, prospective buyers are interested in refinished hardwood flooring. It is one of the most appealing, durable flooring solutions currently on the market.
Cost of Hardwood Flooring
To put it plainly, hardwood flooring is an investment, and it is not a cheap material by any means. You can expect to pay around $5 to $10 per square foot for popular woods, such as oak, maple, walnut, or cherry. Then, add on the installation cost, which ranges from $4 to $8 per square foot. You’ll also have the option of more expensive, rare types of wood used in hardwood flooring.
It is a pricey investment, however, and despite the initial upfront cost being so high, you may find that the long-term investment is worth the price today. The amount you’ll receive for selling the property, for instance, is quite a bit higher than normal. Pair hardwood flooring with the right location, or perhaps other amenities, such as a tankless water heater or swimming pool, and you’ll make your money back in spades during the sales process.
Where Hardwood Matters
We have explored the cost of hardwood flooring and the return on investment most homeowners experience. Now, let’s explore where hardwood flooring matters. In your home, you have multiple rooms, each with their own flooring and suitable styles. In a residential home, hardwood flooring is ideal in the main areas, like the living room and hallways. However, consistency makes the biggest difference when selling. For example, you do not want two different types of hardwood flooring touching in a highly visible portion of the house such as where two rooms meet. Consistency makes a key difference here in terms of value.
If you’re keen on hardwood flooring for your home, consider calling Starwood Distributors today for service in Dallas and Plano. We offer excellent hardwood flooring services at an affordable rate. Call 214-718-7304 today!