The real estate market is unpredictable, but one thing is for sure; updating your floors will help you sell your home and give you a positive return on your investment. Dumping money into a home you’re getting ready to sell isn’t something any homeowner wants to do, but it can be beneficial if you want to sell your house quickly and get the price you want. Decluttering and cleaning can only get you so far in presenting your home to potential buyers. There are some areas where if you spend a little money, it will help sell your property. Like new flooring!
Financial Impact of New Floors
The numbers do not lie. If you spend money to put new floors in your home and replace damaged, stained, or unsightly flooring, you will get your money back plus some. According to the latest research report by the National Association of Realtors, the highest percentage cost recovered from remodeling projects was from refinishing hardwood floors, with a 147% return, while brand new wood flooring paid back a 118% return.
With a guaranteed return on your investment from new floors, it makes sense to update your floors before you put your house on the market.
Get Rid of Old Carpet
An overwhelming 94% of real estate professionals recommend replacing old or stained carpets before you put your house on the market. Stained or dated carpet is a huge turnoff to potential buyers, especially if you have pets. Fresh, new carpet is even more critical when selling an empty property since that is all the buyers will see in an empty room.
Plus, carpet harbors allergens, odors, and dust. A new carpet will eliminate smells embedded in your carpet fibers and carpet pads. If you have hardwood floors under your carpets then you hit the jackpot. Removing carpet and revealing hardwood floors will instantly up the sales price of your home.
Update Damaged Vinyl Flooring
The same rule of thumb can be used regarding vinyl flooring. It will be difficult to sell your home if the vinyl flooring is old, torn, or stained. A fresh new vinyl floor will make your home look updated and move in ready to buyers. Vinyl flooring is one of the most sought after and popular flooring options. It is durable, waterproof and scratch resistant, making it an attractive flooring choice for many home buyers. It can be installed quickly and be ready for use instantly.
Refinish and Repair Old Floors
You don’t need to go overboard and spend a ton of money updating the floors, either. For an estimated average investment of $600 to $900, brokers report that the return in value comes in at up to $2,000. You may get away with spending even less than that.
If you have hardwood in your home, it might be as simple as refinishing them to bring them back to its original beautiful state. This will eliminate any scratches, damage or discoloration. Sometimes area rugs can discolor hardwood, making it look old and outdated.
Flooring contractors can eliminate distracting squeaks with a few well-placed nails. Other small repair projects that have a big impact include repairing broken tiles or patching damaged floorboards.
Without a doubt, if you have rental properties, you’ll want to update the flooring before you sell it or rent it out to new renters. Potential buyers or renters do not want to live in a home with carpet from previous tenants or floors that are very worn and damaged.
Shopping for New Floors
If you’re looking to list your home and need to update your floors without spending much money, there are many affordable options on the market. Be sure to tell your flooring company you are listing the property so they can recommend less expensive, neutral products that will give you the most return on your investment.
About Flowers Flooring
Flowers Flooring is your family flooring specialist with two locations – Cornelius, NC, and Winston-Salem, NC. Both locations service a 100-mile radius from the showroom. Both locations specialize in flooring sales and installation, including carpet, laminate, hardwood, sand & finish, hardwood restoration, vinyl plank, vinyl tile, rubber flooring, tile floors, tile showers, tile backsplash, area rugs, interior painting, and more. To reach the Cornelius, NC location please call (704) 445-7750 and to reach our Winston-Salem location, please call (336) 660-0977. Please be sure to inquire about our current promotion and financing offers.