Is Flooring A Good Investment?

Home Buyers: Hardwood or Carpet?

Over the years it’s become clear that many real estate agents, home sellers and home buyers appear to prefer hardwood flooring. Even so, many are still asking the question “is flooring a good investment”, and more specifically “is hardwood flooring a good investment”?

It’s no surprise that a new hardwood floor can dramatically upgrade the overall value of the home and make a big impression on guests and potential buyers. There is something powerful about the way hardwood floors can help define a space. Some sellers may even put in new hardwood floors to help sell their homes, only to discover that they themselves don’t want to move out!

Let’s take a look at the results of two surveys completed by 100 experienced real estate agents and 1,000 property buyers and sellers about carpeting versus hardwood flooring and find out why home buyers love hardwood so much!

A few snapshots of the results

  • 72% said flooring was a very important area of the house for potential buyers, followed by the kitchen and bathroom
  • Buyers are willing to spend $2,080 more on a house if it comes with hardwood flooring, according to the USA Today and the National Association of Realtors
  • Agents advised that having hardwood floors can increase a home’s change of being sold by 41%, moderately speaking
  • 95% said installing hardwood floors is a good investment
Is Flooring A Good Investment? Hardwood Flooring Infographic

Quotes from Surveyed Realtors

“I have had buyers literally back out of purchasing a home if it did not come with hardwood floors.” – Omar T., Realtor

“Hardwood is nicer to show from a seller’s perspective, has more options for staging, and doesn’t detract from the price as out of condition, style, or color carpet flooring will.” – Matt F., Realtor

“When a home has quality hardwood floors, the perception is always that the home has a great value” – Chris C., Realtor

“Hardwood creates a timeless and elegant look. With proper care and maintenance, it will outlast just about every other feature of the house.” – Ann R., Realtor

Benefits of Having Hardwood Flooring

  • Higher Property/Resale Value
  • Easy to Clean
  • Durable
  • Beautiful
  • Classy
  • Feeling of Warmth
  • Better for Allergies
  • Sophisticated
  • Classic
  • Long-Lasting
  • Affordable

Not only did they say it was popular for these reasons, but they said it would remain popular for many years.

Buyers Feedback
When asked to choose between two identical homes with hardwood or carpeting, respondents said they

  • Strongly Prefer Carpet: 3%
  • Slightly Prefer Carpeting: 7%
  • No Preference: 12%
  • Slightly Prefer Hardwood: 27%
  • Strongly Prefer Hardwood: 51%

Here are some reasons why homeowners and buyers favor hardwood

  • 61% stated hardwood flooring is better for homes with small children, while 31% believed carpeting was better for this situation.
  • 83% stated hardwood flooring is better for the environment, while 17% believed carpeting was better for this.
  • 90% stated hardwood flooring is better for your family’s health, while only 10% believed carpeting was better for your health.

Is flooring a good investment?
Without a doubt, it is clear that hardwood flooring gets the vote for the most preferred for a multitude of reasons. Take a look at the infographic below and see for yourself why flooring is a good investment. Either way you look at it, new flooring adds value and at Great American Flooring, we can work with you on whichever your preference is. New flooring will always add value to the home, whether you are selling or not, and it can improve the quality of life inside of the home for you and your loved ones. Give us a call to discuss your flooring needs or stop by our showroom to see your options in person.

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