Some home renovations pay off much better than others! Home improvement projects geared towards a homeowner’s tastes have the least positive effect on asking price. A specially designed art studio will not appeal to most buyers but projects like kitchen and bath renovations will! Home buyers love to see a brand new kitchen, gleaming appliances, hardwood floors, and beautiful landscaping.
Buyers also care about features they can’t necessarily see from a home listing like a new siding and a new furnace, but they place value on these repairs.
Many home improvements add value both for the current homeowner and for when it is time to sell. Installing hardwood floors in a home increases home value significantly but are also a beautiful aesthetic for the current owner, along with being easier to clean and maintain than other flooring types like carpet. It is easy to refinish or change the color of a hardwood floor. Carpet is a home improvement that a homeowner is more likely to consider right before selling their house. Carpet is harder to keep clean and freshly installed carpet may be more appealing to a buyer than carpet that is several years old or older.
Your budget may help you decide where to spend your money on home improvements. If you are going to be in your house for longer, your preferences may decide this but if you are selling soon you may lean towards improvements that increase the visual appeal of your home. A dated kitchen or bathroom, dingy paint, or stained carpet may be where you start first!
Renovations with Best Return on Investment
When polled, a survey of buyers much preferred hardwood floors in the living room and dining room and slightly preferred hardwoods to carpet in bedrooms (55% to 45%). Hardwood floors are also slightly favored in the kitchen over tile floors. Younger buyers vastly prefer hardwood floors
Major Bathroom Remodel
Everyone loves a new bathroom! Bathrooms tend to have an 85% return on investment, while also bringing improved function to the current homeowner. Dual vanities, a deep soaking tub, and storage are all valued by buyers!
Replacement Vinyl Siding
Vinyl siding has an 89% return on investment. It may not be the first thing a buyer notices but it adds a lot to a home’s asking price, typically $8,000 more.
Major Kitchen Renovation
Kitchen remodels are very expensive, but tend to add a lot to your home’s asking price. A kitchen remodel can bring heightened function, style, and organization to the current homeowner along with generally having an 81% return on investment.
Choosing a floor stain is a big decision because it is not something you want to get wrong and have to repeat! Staining a floor is an investment in your home and a time-consuming process so you want to be confident in your choice before the project begins. Luckily, there are some questions to ask yourself that will help you decide which flooring is correct for your home!
Choosing between a Light or Dark Colored Floor
There are pros and cons to both light and dark-colored flooring. Dark flooring adds contrast to light colored walls, which will really add delineation between the walls and flooring. Dark floors feel modern and can help brighter-colored rugs and textiles stand out! Dark flooring feels polished and looks particularly elegant when the floor boards are wide. On the other hand, dark floors really do suck up the light in a room rather than reflect it.
Lighter-colored flooring reflects natural sunlight rather than absorbs it. If you enjoy light, airy spaces then a lighter stain may be the best choice for your floor. Lighter colored floors photograph very well and look polished with rugs in many different colors. However, do keep in mind the color of the original wood of the floor if you are re-staining an existing hardwood floor. If you are trying to stain a floor with red or orange tones, these shades will combine with the lighter stain and show through. Think about how this might affect the result in comparison to the shade you had hoped for. A darker stain is much more likely to cover red or orange undertones in the wood. Keep this in mind when you are perusing idea books or websites, that the floor stain that looks so perfect in the photo may have been applied to a different wood base. Ask your flooring specialist to explain how your hardwood may be effected by various stain colors.
Consider your Pets
If you have three black Labrador retrievers or five white Persian cats, pet hair is going to be a constant battle. While all of us should have cleaning systems in place to keep our hardwoods sparkling, pets continually shed hair and there will be times when pet hair is on the floor. Dark flooring camouflages dark pet hair while light-colored flooring can help hide stray white or lighter shaded fur.
Consider Resale Value
Are you planning on moving in the future? Browse design websites like Pinterest or magazines to get an idea of current flooring trends. Choosing a floor stain that stays in line with popular design ideas may make your home easier to sell. On the other hand, this is your house and you should be happy with your choice. A floor can always be refinished if the person who purchases your house may have chosen differently.
Our flooring specialists are available to help you make your choice! Contact us today!
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.