If you are thinking about a home remodel, or helping a homeowner with their renovation project, chances are home value and ‘ROI’ has been a topic of conversation. Many homeowners are moving toward improvements to help increase the curb appeal and their home’s resale value – so how do premium hardwood floors compare? We’re glad you asked.

Cost Vs. Value of Premium Hardwood Floors

There’s no shortage of desire for premium hardwood floors – and more and more buyers are looking for high-end finishes like these during their home search. But, the question on everyone’s mind is, does the value/desire justify the cost? 

According to the National Association of Realtors (NAR) 2022 Remodeling Impact Report, premium hardwood floors can easily enhance home value. While there isn’t a hard and fast number – and this will depend on the local real estate market – the average ROI for installing premium hardwood floors can be quite favorable. Refinishing hardwood floors offers an impressive ROI of approximately 147%, meaning homeowners can recover more than the initial cost of the project. New hardwood floor installations also provide a solid return, with an ROI of about 118%​.

Photo Credit: NAR 2022 Remodeling Impact Report

Why Premium Hardwood Floors?

In addition to the high ROI, there are many other benefits of premium hardwood floors – all of which enhance home value and curb appeal.

Durability and Longevity

One of the biggest selling points for premium hardwood floors is their durability. High-quality hardwood can last for decades, and even improve with age. Unlike carpet or laminate, which may need to be replaced every 10-15 years, hardwood floors can be refinished multiple times, extending their lifespan significantly.

Aesthetic Appeal

Premium hardwood floors are universally appealing. Their natural look and feel, combined with a variety of finishes and wood types, can enhance any home’s interior design. Whether it’s a modern, rustic, or classic aesthetic, hardwood floors can complement and elevate the style of any room.

Health Benefits

Hardwood floors are also known for their health benefits. They do not harbor allergens like carpet does, which can be beneficial for individuals with allergies or respiratory issues. This can be a significant selling point for potential buyers.

The True Value of Premium Hardwood Flooring

A homeowner has a lot to consider when deciding on a home remodeling project, but installing premium hardwood floors offers a high ROI and numerous additional benefits. However, homeowners must weigh the costs and benefits carefully.

Homeowners should also consider local market trends. In some areas, the investment in premium hardwood floors might be more justifiable due to higher demand, while in other regions, different types of flooring might be more popular. Wide plank premium flooring is an excellent and trending option that homeowners and businesses love.

Trust the Experts at Wide Plank Floor Supply

Guiding a homeowner to the best flooring option means understanding the local market as well as their desires for a future home sale. Enhancing the value of a home is sometimes more than a dollar amount. Chat with our flooring experts to explore the options.

Posted In: Interior Design

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