When it comes to putting your house on the market or simply making a few renovations in the hopes of increasing your home’s equity, one of the most common upgrades chosen is the installation of wood flooring.
In general, wood flooring tends to add value to your home more easily than carpet or laminate because it has a tendency to be extremely long-lasting and doesn’t go out of style. Since there are so many different types to choose from, the actual cost of making this switch can vary greatly depending upon whether you opt for an exotic or high-strength wood like cherry, or choose to go for a more eco-friendly choice like bamboo. Still, even with some of the more pricey options, the switch to wood from one of the other flooring alternatives will almost certainly add value to your home.
However, while a study conducted by The National Wood Flooring Association showed that 99% of U.S. real estate agents said that homes with hardwood flooring are easier to sell, it’s important to remember that carpeting can still increase the value of a home if it is being used to replace old or cheap vinyl options. However, if you prefer carpet and ultimately decide to go that route, take into consideration that not only does it wear out much more quickly than sturdy hardwoods, but with the array of colors and styles to choose from, it can rapidly fall out of style and actually decrease the value of your home (think 70’s-style shag carpeting).
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Still, while both choices have pros and cons, if you’re not planning on making the jump into the real estate market anytime soon, don’t be afraid to reflect on your options and go with whatever works best for your family and your budget.
