Do wood floors increase home value?
Many older homes in the UK have hidden wooden flooring, often
covered by carpet or lino. If you're lucky enough to have such a
treasure in your home, renovating your wooden floor can bring new life
to your space as well as increase the value and saleability of your
property.
According to the National Wood Flooring Association (NWFA) in the US, Estate agents reported that new wood flooring yields the largest financial return upon resale.
How much can a wooden floor increase the value of a home?
While it is commonly understood that wood flooring can add value to a property, it is great to get some actual figures on this.
According to CNN, wooden flooring can add as much as 3% to 5% to the value of a home and, in the UK, the Express also reports that wooden floors are favoured for adding value.
Is it worth restoring original floorboards?
Well, obviously there's a potential upside in the value of your property, as noted above. But if you're asking is it worth restoring original floorboards and restoring pine flooring, that also depends upon your own taste in decor and the benefits of not having to put expensive carpet down, that then needs constant hoovering and attention over time and will also have to be replaced in the future.
A beautiful wooden floor can add real value to a house...
Does refinishing hardwood floors increase home value?
Bringing an old wooden floor back to prime condition by floor sanding and refinishing, such as parquet flooring refinishing will save reinstalling a wooden floor and can make your wooden floor a real asset to your house again. Imagine therefore finding a hardwood floor, that you have an original parquet floor or floorboards under that old carpet or lino. Revealing wooden flooring, particularly an oak floor - where oak floor restoration is particularly rewarding - or floorboards can suddenly create an asset for your property, where before there was an old floor covering which did quite the opposite! And yes, floorboard restoration is a thing, too!
Parquet floors offer a timeless appeal and modern look
What do estate agents say about the value of having wooden floors?
Being on the front line as far as house value and sales is concerned, Estate agents have their fingers on the pulse of what sells and what makes a house more valuable.Zoopla says that when looking for properties with potential, 'Wooden beams, original floorboards, bannisters and doors all offer potential to add value'
For this reason, stair sanding, and refinishing stairs can provide that natural wow factor for your house, right as people come in. First impressions count!
The major online property sales website Rightmove, agrees, reporting that "Home-buyers highly value new solid-wood flooring...", so backing up that wooden flooring is a popular feature among buyers .
It seems clear from the above that wooden flooring can add value to a home, making it a worthwhile investment for homeowners looking to increase the value of their property.
Wooden floors add to saleability of a property
What is the difference between the value and saleability of a property?
How does wooden flooring affect saleability?
According to the 'National Association of REALTORS® Research Group' '2019 Remodelling Impact Report', new wood flooring and refinished wood flooring were 4th and 6th respectively in the 'rank of projects’ appeal to buyers' when refurbishing a house.The price boosting effects of saleability on a property
If a property scores well in terms of saleability, this can create greater interest, which can in turn provide competition to purchase the property and can therefore increase bids. Remember, people often buy things with their hearts and not just their heads. If you can get someone to ‘fall in love with your property’, presenting wow factors, it can make it easier to sell your home.Reasons why wooden floors add extra value to a house:
- Durability - Wooden floors are durable and long-lasting, often lasting for several decades with proper maintenance.
- Aesthetics - Wooden floors offer a warm, classic look that appeals to many homebuyers and can enhance the overall look of a home.
- Versatility - Wooden floors come in a variety of species, colours, and finishes, making them suitable for a wide range of design styles and aesthetics.
- Resale value - Wooden floors are often viewed as a desirable feature by homebuyers, and as such, can increase the resale value of a home.
- Easy to clean - Wooden floors are relatively easy to clean and maintain, making them a convenient choice for busy homeowners.
- Allergen-free - Wooden floors do not trap dust, pet hair, and other allergens like carpets do, making them a healthier option for homeowners with allergies.
- Healthy option - Unlike carpets, which can harbour allergens and mould, wooden floors do not trap moisture and are less likely to harbour allergens, making them a healthier choice for homeowners.
- Increased indoor air quality - Unlike carpets, which can trap pollutants and emit volatile organic compounds (VOCs), wooden floors do not contribute to indoor air pollution.
- Environmentally friendly - Wooden floors are a renewable resource, making them an environmentally friendly choice for homeowners.
- Noise reduction - Wooden floors provide a natural sound barrier, reducing the amount of noise transmission between rooms and floors.
- Timeless appeal - Wooden floors have been a popular choice for centuries and their timeless appeal continues to endure, making them a safe and practical choice for homeowners looking to increase their home's value.
- Flexibility - Wooden floors can be refinished or sanded and re-stained to update their appearance, making them a flexible and long-lasting choice for homeowners.
- Easy maintenance - Wooden floors can be easily cleaned and maintained with regular sweeping and mopping, making them a low-maintenance choice for homeowners.
- Increased home value – Refurbishing, installing or upgrading to wooden floors can add value to a home, making it more attractive to potential buyers and increasing its resale value.
- Adds character - Wooden floors can add character and warmth to a home, especially if they are a unique species or have an interesting grain pattern.
- Increases the perceived value - Wooden floors often give a perception of higher quality and luxury, increasing the perceived value of a home.
- Versatile - Wooden floors can be used in a variety of styles and decor, making them suitable for traditional, contemporary, and modern styles.
In summary, wooden floors offer a variety of additional benefits beyond just their aesthetic appeal, such as environmental friendliness, allergen-free living, noise reduction, improved indoor air quality, timeless appeal, and flexibility.If you can actually refurbish a wooden floor rather than replacing it, you’ll find a significant reduction in overall costs and upheaval, and a higher potential return, so remember to check out the floor sanding prices before making a decision on whether to repair or replace.
Which wooden floor types add the most value to a house?
If you are lucky enough to find a wooden floor that is a little more exotic hiding under that old floor covering, you could find the floor creates that extra wow factor. So, what types of wood are considered the best for floors?Wood Type:
Hardwoods:
The National Association of Realtors says about "Wood Flooring Options" that "Hardwoods, such as oak, maple, and cherry, are considered more desirable and valuable than softer woods like pine.", This Old House, in their article "Wood Flooring Types: A Guide" say that "Exotic hardwoods, like teak, mahogany, and ipe, are even more valuable due to their rarity and unique appearance."
Style of Wooden Flooring:
The style of wooden floors also has an effect on value. Solid wood, or hardwood flooring is considered the best due to its ability to be restored and refurbished many times over its lifetime.
"expect to see an ROI of at least 55%, though this figure fluctuates according to the demand for hardwood flooring." (Angie's List)
Parquet flooring can also add value, due to the design and timeless appeal.
"Parquet flooring is a decorative type of flooring that can add value to a home due to its unique design and elegance." (Houzz, "Parquet Flooring: A Guide")
Final say on value and saleability
The final say has to go to your local estate agents. If you want to know how much your wooden floor or hardwood wood floor could potentially add value and saleability to your particular circumstances, then ask them for an appraisal and you'll have a good idea of what you can spend to renovate them.Wooden floors are a timeless addition to any home, adding character, warmth, and value. Whether you're renovating an old floor, or uncovering one that's been hidden for years, the impact it can have on your home is significant and, with the right approach, you can bring new life to your space and increase the value of your home.
If you're lucky enough to have floorboards or another type of wooden floor, give us a call for your free site visit and estimate, without any obligation on your part.
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