Real estate professionals say that hardwood floors can pay off when it comes to selling a home. They’re a “bling feature,” particularly in living rooms and dining rooms, and in a master suite they “could help win a buyer’s offer,” Janice Caputo, a real estate pro with Coldwell Banker Real Estate Services in Pittsburgh, told realtor.com®.
“Most buyers nowadays are expecting hardwood,” Matt Laricy, a real estate pro with Americorp Real Estate in Chicago, told realtor.com®. “They want things move-in ready, and don’t want to do any work. Seeing carpet could make them pass on your place.”
Alex Biyevetskiy, a home remodeling expert with RemodelingImage.com, says new hardwood floors can even add up to 2.5 percent to a home’s sale price. The National Association of REALTORS®’ 2017 Remodeling Impact Survey also rated refinished hardwood flooring as one of the projects that are most appealing to home buyers.
Hardwood flooring can be expensive to install, however. Kimberly Villa, marketing manager for Kaminskiy Design and Remodeling in San Diego, says the average cost of popular woods like oak, maple, walnut, or cherry is about $5 to $10 per square foot. For installation, add about $4 to $8 per square foot.
“While this may seem a little pricey for an initial investment, you must take into consideration the fact that these floors can outlive you,” Villa says. “They will also increase the market value of your home quite a bit. Old carpets can be a major eyesore and can really turn a home buyer off. They can also negatively impact those who have allergies. Invest in hardwood flooring now, and reap the benefits for decades to come.”