Whether you’re looking to increase property value ahead of a proposed sale or simply thinking long-term, it’s worth understanding the return on investment (ROI) of flooring. Depending on the area of your home and the materials, the return on investment of flooring can have a significant impact on your property while enhancing everyday enjoyment.
Learn how much new flooring increases home value and which materials offer the best bang for your buck with expert insight from Floor Coverings International® of Spokane.
How Much Value Does New Flooring Add to a Home?
Upgrading or replacing old flooring adds to your home’s appeal and may increase its resale value. Many prospective homebuyers see new, modern flooring as attractive for a few reasons, including:
- It’s a sign that the home is well-maintained.
- New owners won’t have to replace the flooring in the near future.
- The flooring likely aligns with contemporary design trends.
While not all flooring materials or designs are universally appreciated by all buyers, there is considerable data showing that flooring’s return on investment is relatively consistent. We’ve included the widest range of flooring ROI estimates to provide a realistic look at what to expect.
The ROI of New Flooring, By Material
As you might expect, premium flooring options garner a higher return on investment, on average.
Wood Flooring ROI – 70-147%
Solid wood and engineered wood offer the best return on investment of all flooring types. Wood is considered timeless, natural, and durable. Its ability to be refinished several times makes it a long-lasting option treasured by prospective buyers.
- Refinishing existing hardwood under carpeting is the most cost-effective option and offers potential ROI over 100%.
- New installations can add up to 2.5% of home value, with a return between 75% and 95%
Luxury Vinyl Plank and Tile ROI – 55-80%
Luxury vinyl plank (LVP) and luxury vinyl tile (LVT) offer some of the best returns on investment. Flooring durability and resilience (think stains, water, and impact damage) are big considerations for buyers, and vinyl is a cost-effective, tough material designed to last.
Tile – 55-70%
While relatively expensive and often difficult to install, tile is one of the longest-lasting flooring products available. If you’re not planning on selling your home in the near term, lean toward tile with classic patterns and neutral colors to ensure a timeless aesthetic that is always in style. Make sure you have an expert install tile flooring to provide years of worry-free use!
Carpet and Laminate ROI
These budget-friendly options don’t always add considerable value to a home, though they will always make your home more attractive than outdated or severely worn flooring. Both laminate and carpet have shorter lifespans compared to more premium options (10-20 years for laminate, 5-15 years for carpet), which increases replacement costs over time. Carpet tends to be slightly higher maintenance than hardwood, tile, and vinyl.
These flooring options will always add more value than worn-out and damaged floors. We can help you maximize your investment and stick to your budget; get in touch to learn more.
Why It’s Difficult to Predict the ROI of Flooring
The average ROI figures used here are relatively broad. That’s because, just like beauty, value is in the eye of the beholder. The local housing market, regional design and construction trends, and individual preferences impact the value attached to flooring or any element of a home.
To maximize ROI, think strategically about flooring materials and where to invest.
- Stay neutral: Neutral colors appeal to a wider audience.
- Durability: New owners want to know they won’t face additional costs replacing flooring right away. Choose durable materials like wood, vinyl, or tile to ease those concerns.
- Consistency: Adding a single room of hardwood may be visually jarring, even if the ROI on hardwood floors is technically higher. A consistent, seamless look is much more cohesive and appealing.
- Placement: Consider the space you're upgrading and opt for the most appropriate material. For bathrooms, kitchens, and laundry rooms, tile and vinyl are your best options. For areas with minimal moisture risk, wood and engineered wood may add more value.
Your dedicated Design Associate will help you choose the best product for any area in your home!
Invest in Your Home’s Value with A Local Flooring Expert
Floor Coverings International® of Spokane carries thousands of quality flooring products, making it possible to achieve the results you’re looking for. Our local team is dedicated to helping customers find the right materials and make informed decisions, enhancing curb appeal and your daily enjoyment. Let us bring a world of flooring options to you; schedule your free, in-home consultation with us today!
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