Homeowners often consider what type of remodeling project they can do to better prepare their homes for sale in a competitive market like Chesapeake’s. Still, they often overlook what’s right below their feet.
New flooring increases the overall appearance of your home. Potential buyers may fall in love with your home as soon as they walk in—before they even reach that expensive kitchen or bathroom remodeling project you endured.
For less than the price of a kitchen remodel, you can create a distinctive look that flows throughout your home and appeals to buyers.
Impact of Flooring on Home Resale Value
After knowing they have a solid roof and reliable mechanicals, floors are the next most likely home feature to influence sales. Almost any floor replacement will provide a nice ROI if your floors are worn and dingy. If buyers see unappealing floors, they first consider how much they will need to spend replacing the flooring.
General Influence of New Flooring on Market Value
The average ROI on floor replacement is 70 percent, but you can gain a greater return by making a wise choice. You’ll need to invest to earn that return, as flooring is expensive. You also risk making the wrong choice with flooring, such as hardwoods and carpets, since potential buyers will have their own preferences. However, selecting luxury vinyl flooring is a solid choice and wise investment.
Specific Contributions of Luxury Vinyl Flooring
The choice of trendy luxury vinyl flooring can give you a higher ROI of up to 235 percent. Luxury vinyl planks simulate the look of hardwood or tile flooring at a fraction of the cost. It is also engineered to maintain appearance for decades, even in high-traffic areas. Homebuyers must keep a simple cleaning regimen, which they’ll appreciate compared to that for hardwood floors.
Comparing Different Flooring Types
Making a choice that will affect your ability to sell your home quickly and for a high price could be intimidating with all the available flooring choices. This little guide gives you an idea about how luxury vinyl compares to other flooring choices.
Luxury Vinyl vs. Hardwood
Luxury vinyl mimics the look of hardwood so well that the casual observer might not notice at first glance. Designers have created these great looks by scanning hardwood boards and adding texture to mimic their feel. The great difference for you will be in the cost. Hardwood floors cost $6 to $12 per square foot to install, compared to $2 to $8 for luxury vinyl planks. The other selling point for luxury vinyl is that it is durable and scratch-resistant, so it never needs to be refinished during its lifetime, compared to hardwood floors that need to be refinished every 7-10 years.
Luxury Vinyl vs. Carpet
Luxury vinyl still beats carpet on price as carpet generally costs $3.50 to $10 per square foot. Many buyers will balk at carpets, especially in high-traffic areas, as they know they will require constant cleaning and will wear out quickly. Carpets also retain pet hairs and dander, increasing allergy problems for those with respiratory issues.
Luxury Vinyl vs. Laminate
Comparable in price to laminate flooring, luxury vinyl has been around for decades. However, its appearance has improved in recent years. Laminate flooring cost $3 to $7 per square foot. Laminate flooring maintains a slick feel, which can be slippery for those with mobility issues. While durable, laminate scratches more easily than vinyl and can lose its visual appeal long before it’s worn out.
Luxury Vinyl vs. Tile
Aside from luxury vinyl planks (LVP), there is also luxury vinyl tile (LVT), which mimics the look of the more expensive tile options. Traditional tile can cost from $8 to $15 per square foot. Luxury vinyl again holds the maintenance advantage over tile, many of which need to be resealed frequently to prevent water and stain damage.
Luxury Vinyl Flooring: An Investment in Your Home’s Future
Adding luxury vinyl flooring to your home will provide a look and maintenance level you will love. And increase your chances of selling your home quickly at a premium price.
Aesthetic Appeal and Versatility
Luxury vinyl flooring provides the greatest aesthetic appeal, whether you choose vinyl plank to mimic hardwood or vinyl tile. The added bonus of luxury vinyl flooring is that you can choose from various styles and colors. For instance, real exotic woods are some of the most expensive options in flooring. However, luxury vinyl can simulate exotic woods at a fraction of the price.
Durability and Low Maintenance
Luxury vinyl flooring is engineered to be scratch-resistant, meaning it’s an excellent option for families with small children or pets.
It also:
- stands up to heavy traffic areas,
- requires minimal maintenance,
- is easy to clean,
- is stain resistant,
- and doesn’t need to be refinished.
Cost-Effectiveness and ROI Considerations
Luxury vinyl stacks up well with all the more economical, quality options but tops them all in durability and maintenance. It also provides a strong ROI, comparable to hardwood flooring, the long-running favored flooring option. The durability and low maintenance even make it preferred over hardwood by many homebuyers interested in spending time with family and friends rather than on time-consuming maintenance projects.
Invest in Your Home’s Value with Yates Flooring VA
As you eye improvements to your Chesapeake home, you can do no better favor for your resale chances than to upgrade your floors to luxury vinyl siding. Yates Flooring VA can help you make the right choice to enhance the look and appeal of your home. Call 757-717-9955 today to talk to one of our experts about the best luxury vinyl flooring options for your home, or provide us with the details on your home and get an instant quote.
