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Do wood floors really improve Chicago home values?

Jan 31

When you're looking to buy or sell a home, the type of flooring installed is always a major consideration. Some people believe that installing wood floors will significantly increase the value of a home, but is that really true? Let's take a closer look at this question and find out what the experts have to say.

What factors determine a home's value?

The answer to this question is complex, but the general consensus is that the factors that contribute most to a home's value are:

·          The location of the house (not just the neighborhood)

·          Quality and condition of the property itself (including landscaping, number of rooms, etc.)

·          Square footage of the house


The Benefits of Wood Floors

Wood floors are considered more stylish and visually appealing than carpeting or other flooring types. Most people prefer to have wood floors in their living room, dining room, kitchen, bathroom, dressing area, library and home office. For this reason, many people who buy homes try to ensure that the floors in their new home are wood.

How to install wood floors properly

The type of sub-flooring your floor is installed on will determine whether or not you can install hardwood floors. For example, if you have plywood under the carpet in some rooms, it's probably best to have a professional come out and take a look at your sub-flooring. How much work it will be to replace the plywood underneath depends on whether or not you can do it yourself or if you'll need a professional's help. Most people who buy wood floors hire a flooring contractor in Chicago to install their new hardwood floor.

What are the costs of wood floor installation?

Wood flooring can cost anywhere from $3 to $15 per square foot. The finish, quality and type of wood that is used will affect how much your floors ultimately cost. If you're planning on having new hardwood floors put in, you'll need to have an exact amount ready for the flooring contractor you hire to do the job.

How much more will my home be worth with wood floors?

A study of homes in Seattle showed that houses with hardwood floors sold for 5-11% more than similar properties with other types of flooring. Some people believe that installing new hardwood floors on your home's main level can increase your home's value by up to 11%. The average return on investment for wood floors is 6-10% .

Does refinishing my wood floors increase home value?

Refinishing your wood floors can increase the value of your home as well. Floor refinishing typically only increases the value of a home by about 1-3%.

Talk to a professional company that does hardwood floor refinishing in Chicago will be key to getting the best end result.

Are wood floors worth the investment?

The installation cost of new hardwood flooring may be well above the amount you'll get back when selling your home, but this isn't necessarily a bad thing. New flooring will make your home more attractive to buyers, and it also makes your house more comfortable for you and your family.

As with any major renovation or improvement you might want to make to a property, hardwood floors are an investment that may not pay off in the short-term but can increase the value of your home over time.

The color, type and quality of the wood you choose will determine how much your new flooring costs.

Installing new hardwood floors can increase the value of your home as well as make it more comfortable and stylish (provided they're installed correctly). The real question is, are you willing to spend the money now for flooring that will ultimately garner you a higher return on investment?