What would you say is your single largest investment? For most Americans, this would be their home, which is why, when additions are made to a home, they need to be something that adds value. In the long run when it comes time to sell your home, this will pay off. Hardwood flooring is one way that you can add value. How do we know this? The National Wood Floor Association, which Huggins Hardwood Floors is a member of, recently conducted a study that looked into this, surveying real estate agents throughout the country.
99% Believe that Homes with Hardwood Flooring are Easier to Sell
When asked if homes with hardwood flooring are easier to sell, 99% of those interviewed said yes. Why is this? According to the NWFA, this is because today’s homebuyer has higher expectations. Hardwood flooring is expected now, compared to the past when it was considered to be more of a luxury item in a home.
82% Agree Homes with Hardwood Flooring Sell Faster than Homes without
When a particular component of a house, such as hardwood flooring, helps to sell the home faster, then it adds value to the home overall. 82% of real estate agents agree that hardwood flooring helps to sell a home faster than those without. Not to mention, homes that sell faster result in more overall profit for their sellers.
90% Say Homes with Hardwood Flooring Sell for More Money
90% of surveyed real estate agents say that homes with hardwood flooring sell for more money. Of these agents, 88% say homes will sell for 1-10% more, while 12% say it will sell for more than 10%. To put this into perspective, NWFA used an example of a home valued at $242,300. If a homeowner spent $10,000 on hardwood flooring, at an increased value of 10% this home could potentially sell for $266,530.
Is it time to add value to your home? Give Huggins Hardwood Floors a call today at (908)232-6600 for a in home estimate.