Not all remodelling projects are created equal! But if you’re planning on re-doing your home, flooring is one of the most important factors when it comes to selling. However, not all flooring will give you the best return on investment! Luckily, we’ve picked the top four flooring upgrades that actually improve the value of your home:
Hardwood flooring tops our list because it’s typically the most desirable flooring that buyers look for! At $5-$10 per square foot, you can expect to see an average return on investment of 70%-80%! What’s more, wood floors can boost your home’s sale price by as much as 2.5%. Wood flooring not only looks gorgeous, but it’s also durable and versatile with so many different colours and stains.
Ceramic tile is a fantastic option, especially for kitchens and bathrooms. Ceramic flooring is water-proof and stain resistant! Plus, these tiles are very durable and hard to crack. If installed properly, ceramic tile can last 10-20 years and longer if maintained. What’s more, if a single tile does break, it’s easy to replace. The average cost of ceramic flooring is $12-$25 per square foot but can go as low as $5, and you can expect to see an average ROI of 70%! Bonus: most of the cost of ceramic flooring is spent on labour, so if you’re able to make this a DIY project, you could even see an ROI of up to 200%!
Porcelain tile is more expensive than ceramic, and it needs to be professionally installed, but the higher price tag is there for a good reason. Porcelain flooring is denser and more durable than ceramic, and it holds up for decades! Savvy buyers are particularly attracted to porcelain tile, which is often used in high-end remodelling projects like bathrooms. The average cost is $18-$32 per square foot, and you could see an average ROI of 55%.
Vinyl flooring has come a long way. Now, you can choose from a wide array of luxury vinyl that is designed to simulate the look and feel of hardwoods or tiles. Vinyl is a less expensive option clocking in at as low as $1 per square foot. It’s ideal for renovations on a budget that still significantly impact your home’s value. Moreover, vinyl flooring stands up well to heavy foot traffic, making it an excellent option for families with kids and pets, and it even helps to reduce noise!
No matter which flooring option you pick from this list, you’re sure to improve your home’s value, especially if you’re replacing carpet, which is the least desirable flooring option in today’s market. Fortunately, these options are great for any budget, and they are worth the investment! For more renovation tips, don’t forget to read the SkyHomes’ blog!