Whether you plan to live in your home for five years or 50, you want to invest in the flooring that’s going to give you the most bang for your buck. You may even want to invest in the best flooring for a rental that you plan to sell in the future, and want to make sure the flooring you choose is the best option. Whatever your overall goal may be, knowing what has the best ROI (return on investment) is important.
Hardwood has been replacing carpet over the last decade or so as the number one choice for homebuyers. We can’t disagree, hardwood is quite beautiful and can make a home look that much sleeker when added. However, quality hardwood, which has the longest lifespan of any flooring, is quite expensive. With proper installation, maintenance and refinishing, hardwood will last as long as the dwelling it’s laid in; there are some homes that still have the same hardwood from 100 years or more, making it a choice that can’t be beat!
Oak, maple, walnut or cherry are the most popular choices and the most widely appealing. Considering the fact that hardwood lasts a lifetime, it will increase the market value of your home substantially. In our opinion, hardwood, even though the upfront costs are steep, is the best ROI for your money.
Tile is becoming more and more a mainstream choice for many homebuyers in place of hardwood. The durability and cost means you can get a good quality porcelain tile floor that lasts for more than 20 years. Porcelain is as hard as granite and due to the firing process, coloring doesn’t fade either. Although tile is easy to clean, the grout it’s laid with is not. It can be a challenge to keep the grout looking as good as the day it was installed. Take that and the cost (tile can get quite expensive) into consideration and you’ll find your ROI suffers.
Carpet is still a pretty popular choice for home buyers, and rental properties. The warmth and coziness carpeting can bring is quite attractive to potential buyers/renters. Installing a high-quality carpet may be a good bet on longevity, and proper care will further extend the lifespan, however, eventually carpet cannot be guaranteed and at most lasts up to 20 years (in a low-traffic area). You may want to invest in carpeting if you plan to live in the home for a short while. It looks very nice during staging, but taking cost and longevity in to consideration, you’ll most likely get the least return on this investment.
Let us know what your long-term plans are with your home to help us best assess what kind of flooring you can get the best return on investment.