Does Hardwood Flooring Increase Home Value?

In Oregon, spring and summer are ideal seasons to sell a home, and if you’re considering putting your house on the market, one key factor can significantly boost its value—hardwood flooring.

Why Do Homebuyers Prefer Hardwood Flooring?

According to a National Association of Home Builders survey, hardwood floors are the most popular flooring option for living rooms among homebuyers. In fact, 87% of those surveyed agreed that hardwood floors enhanced a home's aesthetic appeal.

But what makes hardwood flooring such a valuable asset when selling a home? Let’s dive into the benefits that make hardwood floors a worthwhile investment and how they can increase the market value of your property.

The Impact of Hardwood Floors on Home Value

Installing hardwood flooring can dramatically raise your home’s resale value. A 2022 Remodeling Impact Report by the National Association of REALTORS highlighted that 90% of homeowners who upgraded to hardwood floors said they were happier with the overall look and feel of their home. This sense of satisfaction comes from the natural beauty and durability that hardwood floors offer.

From a financial perspective, the report showed that refinishing hardwood floors had the highest cost recovery rate at 147%, followed closely by installing new wood flooring with an impressive 118%. These statistics emphasize that hardwood floors not only enhance the homeowner's experience but also serve as a high-return investment when selling your property.

How Hardwood Flooring Adds Value to Your Home

1. Aesthetic Appeal

Hardwood floors bring a timeless, classic look to any home. Their versatility allows them to fit seamlessly with various home styles, from modern to traditional. Whether you prefer a rustic wide-plank look or a more refined, narrow plank, hardwood comes in many designs, colors, finishes, and wood species to complement any interior.

When buyers walk into a home with hardwood floors, they often notice the immediate uplift in style, warmth, and sophistication. The visual impact alone makes it a top choice for many potential buyers.

2. Durability and Strength

One of the most significant selling points of hardwood floors is their durability. With proper maintenance, hardwood floors can last for decades, even under heavy foot traffic. This longevity is particularly appealing to families with children and pets, as hardwood is known for withstanding wear and tear better than many other types of flooring.

The Hallmark Floors Regatta Collection exemplifies this durability. With features like spillproof/360 water lock protection and a dent-resistant core, it’s a favorite among families looking for a floor that can handle their busy lifestyle.

3. Long-Lasting Value

While some flooring types, such as carpet, may need to be replaced every 10 to 15 years, hardwood floors can last a lifetime if properly maintained. This longevity is a strong selling point for homebuyers who want a low-maintenance, long-term investment in their home. Additionally, hardwood flooring can be refinished several times over its lifespan, which means it can adapt to changing design trends without needing to be replaced.

The Hallmark Regatta Collection also stands out in terms of longevity, offering a limited lifetime structural and residential finish warranty, ensuring that the flooring will look beautiful for years to come.

Other Benefits

In addition to aesthetics, durability, and long-term value, hardwood floors offer several other advantages that can make your home more appealing to buyers:

• Easy Maintenance: Hardwood is easier to clean and maintain compared to carpets, making it attractive to homeowners who want less upkeep.
• Hypoallergenic Properties: Hardwood doesn’t trap allergens like dust and pet dander, making it a great option for people with allergies.
• Eco-Friendliness: Many hardwood flooring options are sourced from sustainable forests, providing an environmentally friendly option for conscious buyers.

FAQs: Hardwood Flooring and Home Value

1. How much does installing hardwood flooring increase home value?

On average, hardwood floors can increase your home's value by 3-5%. In high-demand markets, that figure could be even higher, especially if the floors are new or recently refinished.

2. Is it better to refinish existing hardwood floors or install new ones?

Both options offer excellent returns. Refinishing existing hardwood floors can yield a 147% cost recovery rate, while new hardwood installations recover about 118% of the investment. If the current floors are in decent condition, refinishing may be the more cost-effective option.

3. What type of hardwood flooring is best for increasing home value?

Solid hardwood flooring is the most sought-after option for its long-term durability and ability to be refinished multiple times. However, engineered hardwood can also add significant value, especially in areas with high humidity, like kitchens or bathrooms, where solid hardwood might not perform as well.

4. Does the type of wood species affect home value?

Yes. Premium wood species such as oak, maple, or walnut tend to increase home value more than softer woods like pine. Exotic woods, like Brazilian cherry or teak, can also attract attention for their unique look and durability.

5. How does the condition of hardwood flooring impact resale value?

The condition of the floors plays a crucial role in determining how much value they add to the home. Scratched, dented, or water-damaged floors may deter potential buyers, whereas well-maintained or recently refinished floors will enhance a home’s appeal.

Conclusion: Investing in Hardwood Floors for Long-Term Value

Installing or refinishing hardwood flooring is a smart investment for homeowners looking to increase both their enjoyment of the home and its market value. With its wide range of benefits—from timeless style to durability and high cost recovery—hardwood flooring continues to be a top choice among homebuyers and sellers alike.

If you’re ready to raise the value of your home with hardwood flooring, reach out to the experts at Rejuvenation Floor & Design in Portland, Oregon. We offer professional flooring installation and hardwood floor refinishing services to help you get the most out of your investment.