Hardwood flooring is a popular addition to a home and a lot of people wonder if it is worth the investment. There is not a lot of hard data to show that hardwood flooring yields a greater resale value for your home but there are some studies that suggest the idea. There are no hard facts or numbers about increasing your resale value but there are a lot of reasons people believe that there is resale benefits to having hardwood.
One of the ways hardwood may increase your resale value is because of the better aesthetic value. Hardwood is a beautiful floor covering and can really add visual appeal to your home. The increase in aesthetic value isn’t necessarily measurable. Depending on the area you live different woods may have more appeal than others. Also stains and plank size may play a role in the appeal of the flooring.
It is challenging to identify if flooring itself actually increase the resale value. Resale values of homes are inherently fickle and because of the fluid nature of selling prices of homes its hard to get definite numbers about flooring. Depending on the phase of the housing market the selling points constantly change. The counter tops, yard, pool, or other factor may be the current “selling point” at any given time.
The National Wood Flooring Association has said that real estate agents believe that homes with hardwood flooring are easier to sell, sell for more and sell faster. USA Today also had a study using National Association of Realtors data that said 54% of home buyers are willing to spend more on wood flooring.
There are a lot of factors that affect the selling price of a home and hardwood flooring may help sell your home quicker and for higher pricing.