You may see “For Sale” signs popping up all over your neighborhood, or you may even be thinking of selling your home. When looking to sell their homes, many homeowners think about doing some improvements to make the most out of the sale. A popular question we get is whether wide plank hardwood floors increase the resale value of a home.
While some home improvements won’t actually increase the resale value of your home, there are others that will almost certainly do so––one of which is wide plank hardwood floors.
Wide plank hardwood floors are a popular request
Hardwood floors are often on the top of the wish lists of renters and home buyers alike. According to HGTV, this is often the number one requested feature from those looking for homes.
In fact, the National Association of Realtors has found that about 54% of home buyers are actually willing to pay more for a home if it has hardwood floors. An investment in wood floors is an investment in the resale value of your home.
Wide plank hardwood floors in particular––which are defined as hardwood floors greater than 5″ in width––have experienced a major surge in popularity in recent years, and this is one trend that’s here to stay.
Wood floors are more expensive than carpet, but worth it
While wide plank hardwood floor may cost you between $9 and $12 per square foot, you would only need to spend between $3 and $5 per square foot if you decide to use carpet instead.
But you shouldn’t only take price into consideration when choosing between the two. In terms of durability, while a good carpet can last between 10 and 15 years, a good wide plank hardwood floor can indeed last forever.
This is one of the reasons why home buyers are seeking for this kind of homes and are willing to pay more for them as well. After all, they won’t probably ever need to do any changes on the floor beside some sanding and refinishing.
And the ROI of hardwood floors speaks for itself––according to realtor.com, the average ROI for installing hardwood floors hovers in the 70%–80% range, depending on the specifics of the project, flooring layout, and your property’s location
The practical benefits of hardwood floors
There’s no question that there’s been a huge increase in demand homes with wide plank hardwood floors in recent years. One of the major trends we are currently seeing is hand-scraped, distressed, or reclaimed wood floors, which add rustic undertones to the room in which the floors are installed.
Hardwood floors in general also super customizable, with a variety of different stain colors and finishes available to suit any taste. They’re also available in different types, from solid to prefinished, in order to fit perfectly with any lifestyle.
Another reason why many people looking to buy a home prefer hardwood floors is that they are durable, easy to clean, and they don’t tend to hold onto dust or grime like a carpet would.
The bottom line: Wide plank floors can increase the resale value of your home
Regardless of whether you are planning on selling your home in the near future or you’re planning on staying where you are for years to come, wide plank hardwood floors are an excellent investment. With their superior durability, beautiful look, and timeless style, it’s easy to see why they’ve surged in popularity.