Does the flooring in your home really impact your home’s value? The short answer is absolutely. In fact, according to one study 94% of real estate professionals will tell you to spend money on floors if you want to raise your home’s value. Some brokers report that spending $600 – $900 could bring in a return of $2,000. That being said there are a lot of smaller, less expensive, repairs you can do to bump your home value. Such things include hammering down exposed nails, replacing old or damaged flooring tiles or fixing up damaged floorboards. Here are a few more ways to increase the profits you can get from your home. Hardwood’s Market Appeal
Hardwood’s Market Appeal
The great thing about hardwood flooring is it’s an extremely desirable feature for buyers and will likely remain so for many years to come. The first thing many potential buyers do before buying a home is lift up the corner of a carpet in hopes of finding real hardwood flooring underneath.
If you do have old carpeting covering a beautiful hardwood floor, do yourself a favor and rip it up. Walking into a home with real hardwood on the floor will get buyers excited and will inevitably impact how high your offers will be.
Tile in Kitchen and Bathroom
The two rooms that can really add value with even the smallest of improvements are the kitchen and the bathroom. The first place to look is your flooring. Getting updated tiles on your floor will improve your bottom line.
You can have your home’s air quality tested to see if things like old flooring or rugs are having a negative impact. The real issue impacting your home’s value is if there is a noticeable odor from old carpets or rugs. If needed, replace them with earth-friendly products such as laminate as this will improve your air quality the most.
Carpets and Rugs
Carpets and rugs have a tendency to look really dingy and worn when they get old. As mentioned before, the best-case scenario is removing them completely to reveal a perfectly aged hardwood underneath. If you aren’t so lucky, you might consider replacing them with a nice laminate or hardwood. At the very least get new carpeting and toss the old rugs. Some of the above tips will add to your homes appraisal value, while others will simply make your home more desirable, which ads to your home’s market value. Either way following these tips can make a significant difference to your bottom line.
SOURCES: hgtv.com, thisoldhouse.com