Is Hardwood Flooring a Good Investment?
Sooner or later, most homeowners have to replace the floors in their home. At first, the number of options available can be staggering. From granite to hardwood flooring, homeowners are confronted with a range of prices, styles and qualities. Out of these options, hardwood flooring is one of the best investments available. While it may cost more than other flooring options initially, hardwood floors have a lower lifetime cost and make the home easier to sell.
Consider the Lifetime Cost of the Floors
Carpets are cheaper than hardwood floors initially, but they require a significant amount of maintenance. If the carpeting is not maintained properly, it will not last very long. Carpeted floors need to be professionally cleaned every year. At least once a week, they have to be vacuumed. Even in the best circumstances, carpets may only last for 10 to 15 years before they have to be removed.
With hardwood floors, homeowners can enjoy minimal upkeep. Depending on the amount of wear and tear, a hardwood floor may only have to be refinished every 20 years. Solid hardwood floors only need to be replaced every 100 years for private residences. During the same time period, homeowners would have to replace their carpets at least 7 – 10 times.
Enjoy Better Health
When most people think of an investment, they normally consider the financial costs and benefits of a product. For floors, it is important to consider the health investment as well. Carpets are known for trapping pollen, fleas, dirt and pet dander. Even when carpeted floors are vacuumed regularly, debris and allergens can hide within the fabric. Anyone who has a respiratory problem or an allergy may have problems with carpeted floors.
Unlike carpets, hardwood floors are easy to sweep. Even if the floors are covered in dirt and pollen, they can be cleaned in just moments. There is nowhere for allergens to hide, which makes these floors ideal for anyone who has a respiratory condition.
Increase the Property Value of Your Home
Sooner or later, most homeowners will sell their home. When it is time to sell, homes that have hardwood flooring tend to fetch a higher price. Carpets are viewed as something that has to be replaced. Because of this, home buyers typically prefer hardwood flooring. Other than the replacement costs, buyers want hardwood floors because they match nearly every color scheme and have a high-quality appearance.
A majority of home buyers are looking for a home that has hardwood floors. Homes that have hardwood flooring in their listing pictures will receive more attention. While true hardwood floors cost between $3.50 to $12.95 per square foot, the National Association of Realtors found that 54 percent of home buyers will pay more for a home that has hardwood flooring. According to real estate agents, homes with hardwood floors sell for more money, are easier to sell and sell faster than homes without hardwood flooring.
Even homeowners who never plan on selling can benefit from investing in hardwood. As the floor develops signs of wear and tear, it can be easily sanded and refinished. Instead of having to be replaced multiple times, homeowners can continue to sand and refinish the floor. Whether you want to invest in your long-term health or improve your chances of selling your home, hardwood flooring is the right choice.