Want top dollar in this hot real estate market for your home?
If you have carpeting covering up your hardwood floors, consider ripping it up before selling it. And if you don’t have wood floors, installing them might be a smart move.
Why?
Especially if you have carpet, the choice seems clear: Hardwood floors are preferred by 54% of home buyers and by renters across Canada.
“Replacing old or worn carpet is one of the best investments a home owner can make,” says Mark Faris, Broker of Royal LePage First Contact Realty The Faris Team Brokerage. “Homeowners on a tight budget also may want to look into laminate flooring, which offers the look of wood at a lower price point.”
Hardwood Flooring: It’s What Buyers Want
According to HGTV, the top request of home buyers and renters when looking for a home is hardwood flooring. Old carpet can be an eyesore for prospective home buyers and a potential hazard for those with allergies. Hardwood floors are preferred by many home buyers — 54 percent are willing to pay more for a home with hardwood flooring, according to data from the NAR.
Installing hardwood flooring can cost between $2 – $3 per square foot, compared with about $0.50 to $1 per square foot for carpet—so some homeowners opt to install hardwood in specific rooms rather than throughout their entire home. However, carpet typically needs to be replaced if it becomes stained or worn out. Good quality carpet can last about 10 to 15 years, while hardwood can last forever.
“If a seller is on a budget, and in a two-story, installing hardwood flooring on the main floor and carpet upstairs is a great choice. In a bungalow, installing hardwood in the main living area and carpet in the bedrooms is a great option for keeping costs down,” says Faris.
The return on investment for installing hardwood will vary according to your market and other factors, but hardwood flooring can often help your home sell faster.
If you would prefer hardwood floors throughout your home, a great solution could be to put area rugs in your bedroom or other spaces where you desire that extra warmth.
“One mistake some owners make is mismatching hardwood and laminate flooring. For example, installing hardwood in one room and transitioning into laminate in another room on the same floor. Wherever possible, keep the type and colour of flooring you choose on each floor consistent and your home will always showcase well and appeal to buyers,” Faris says.
What’s great? Prospective home buyers will be able to see the beautiful flooring and your home will be a hot listing in today’s booming real estate market!
For more information on Barrie’s #1 Real Estate Team, visit www.faristeam.ca
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