Updated: Oct 6, 2022
Does New Flooring Increase Home Value?
This is one of the most common questions we get asked by customers. There are many reasons why customers shop for new flooring:
They might be selling their home.
A customer has old flooring in an existing home that needs to be replaced.
A customer might be a new homeowner, and they want a different look.
The home had water or fire damage.
There are probably several other reasons as well. Let's take a look at each of these more popular reasons, and see if new flooring would be worth the investment.
Does New Flooring Increase Home Value?
You Are Selling Your Home
Many times customers need to replace some flooring in their home, in order to get it ready to sell. You might have a bedroom that needs new carpet or a family room that needs new flooring.
In these cases, we recommend that you pick out a neutral color product, and find a product that is not too cheap, but not too expensive. After all, you are selling the home. Why put your money on an expensive flooring product, when you won't be living in the house? Find a product that fits the style of your home.
For example, if you have a spare bedroom that needs new carpet, find a nice, neutral color carpet, that is similar in quality to the rest of the house.
The goal with any flooring replacement in this situation should simply be to get the house presentable, and ready to sell. Spend the least amount of money you can, without making the replacement look too cheap.
If you are selling a home that is already in good shape, it is rare that replacing a floor will add value to your home. Rather, what it will do, is hopefully help your home sell faster.
However, if you have a fixer-upper home, that you have purchased, with the intent of doing some remodeling, and selling it at a profit, then replacing the flooring could add quite a bit to the value of the home. In this case, again your goal should be to find the flooring that looks nice but is not going to break your bank account.
Old Flooring In A Home That Needs To Be Replaced
Let's say you currently own a home, that you plan on living in for many years. You have gotten tired of the flooring, and it's just time that you get things replaced. This is the type of scenario that you can invest in, that will add some real value to your home.
We think hard surface flooring, especially hardwood flooring, could add significant value to your home. Hardwood flooring can be purchased in a solid product (for homes that have a wood sub-floor), or in an engineered style (for homes with either a concrete or wood sub-floor). Both types of products have wonderful patterns and colors. Hardwood is a timeless product, that does a great job of making a home look more unique and valuable.
There is a specific strategy that we recommend, that will help you always get the best price on your flooring. We have an article, How To Shop For Hardwood Floors, that does a wonderful job in explaining our strategy. You might find it helpful.
Another great product to consider is luxury vinyl tile & plank flooring. Luxury vinyl tile & plank flooring is the fastest-growing product in the floor covering world. If you go into any retail floor covering store, you will notice a huge percentage of their showroom space is dedicated to these types of products.
To add value to your home, we are not suggesting that you buy the cheap-looking cash & carry stuff you find at many flooring stores. We're talking about designer products, that have beautiful styles and colors. These products come in a variety of board widths and patterns and really have an elegant and beautiful appearance.
One of the reasons vinyl tile and plank flooring is so popular is their durability. Besides looking beautiful, the product is great for family life, it is waterproof, pet-friendly, and will last a very long time.
There are many different vinyl tile & plank flooring products. All of them have a good, better, and best product line. We recommend that you discuss these products with your flooring professional when shopping for new flooring options.
You're A New Homeowner - You Want To Change The Look Of The House
You've just purchased a new house, and you want to replace the flooring before you move in. Again, if the goal is to increase your home value, we would recommend looking at a hard surface floor.
Shop for vinyl plank or hardwood for the family room/dining room area. For bathrooms, ceramic tile or designer vinyl tile will always look beautiful and stunning. With tile, you can get a larger format tile (12" x 24" or 18" x 18") that looks wonderful in most spaces.
Tiles come in a variety of colors and designs, and there is almost a limitless supply of samples in most stores.
We recommend hard surface flooring (to increase your home value), simply because it will last longer than carpet. While carpet is a great option, if you're selling a home, when you're buying a home, the purchase of new carpet will make you feel better, but it is not really going to impact the value of your home.
Fire Or Water Damage
While no one wants to have this happen in your home, sometimes unfortunate things happen, and we just have to get past the accidents.
In most cases, your homeowner's insurance will cover you for the replacement value of your flooring. We have an article, Restoration From Water Damage, that does a good job of walking you through this process, and giving you a timeline of how companies replace your flooring.
It is in this situation, that you might look at upgrading your flooring, to increase the value of your home.
For example, if your insurance company approves a $10,000 flooring replacement budget, you might take this opportunity to shop around for some great flooring deals, and completely change the type of flooring you have in your home. Likewise, you might add to the flooring budget (out of your own pocket), simply to get that floor you've always wanted to buy.
Understand Your Project Goals & Budget
Before starting any flooring project, you need to first ask yourself these two important questions:
What are my project goals?
How much money do I have to spend?
First, sit down and figure out why you want to do this project. What do you hope to gain? Are you simply tired of looking at that stain on the old carpet? Maybe you need to sell your home, and you have an old carpet that needs to be replaced. Maybe you simply have some money to spend, and you want new flooring. Whatever the reason, write it down. Know the reason behind the project.
Next, know how much money you are willing to spend. Not only how much you are willing to spend, but know where the money is going to come from. Are you paying cash? Are you taking out a loan? It makes no sense in looking at flooring products that you can't afford. You need to understand the goal behind your project, and then match that goal with products you can afford to buy.
After you have sorted all of this out, then you are ready to shop. Now you can look at products that will help you add value to your home.
Bonus Idea #1 - Walk-In Tile Shower
Walk-in ceramic showers are incredibly popular in new home construction. While this type of remodeling project is not a cheap undertaking, having a ceramic walk-in shower will most certainly add value to your home.
There are thousands of options for tile products you can choose, from for both your shower floor and walls. It is common for people to install shower benches, wall designer inserts for a shelve and shower supplies, etc...
Tile showers add a tremendous feature to a master bedroom, and when you decide to sell your home or have it appraised, it will go a long way in adding value to your home.
Bonus Idea #2 - Add A New Kitchen Backsplashsolid-color
Similar to tile options for a shower, there are literally thousands of options for tile for your kitchen backsplash. You can pick anything from a simple, solid color subway tile, to a fancy glass piece with multiple color shades.
Adding a backsplash to a kitchen will do a wonderful job of updating your kitchen look, and attracting people to your home.
We recommend that you discuss your product options with your local flooring professional before you make a buying decision.
Bonus Idea #3 - Finish Out Your Basement Flooring
Adding a nice piece of carpet or luxury vinyl plank, to turn an unfinished basement into a living space, can really do wonders for your home value. Even if you don't have the budget to completely finish out your basement, adding flooring to a basement space, and turning this space into a game or tv room, can increase how your home is evaluated.
The least expensive way to put flooring in a basement area is with carpet. You can find a nice neutral color carpet at a very reasonable price. After the carpet, we would recommend looking at the luxury vinyl plank.
With the vinyl plank, you can get a very affordable, nice-looking product that won't destroy your bank account. Vinyl plank is a waterproof product and would be a perfect choice for a basement floor.
If you already have a finished basement, you might consider investing in a designer luxury vinyl plank floor. They have beautiful patterns and colors, and it will do an excellent job of freshening up your basement.