Tuesday, June 22, 2021
The value of wood flooring reaches new heights with the National Wood Flooring Association. The saying, “there’s no place like home,” has taken on a whole new meaning throughout the events of the past year. And there will continue to be a lasting impact on our behavior, including what we have come to want and need from our living spaces.
Spending so much time at home has caused people to look at their homes and want to make changes. A poll of more than 1,000 Americans by Bank of America about their attitudes and shopping habits during COVID-19, found that more than 70 percent have decided to tackle home improvement projects. According to realtor.org, more house hunters – particularly move-up buyers – are being drawn to new-home construction in the COVID-19 pandemic, so much so that it’s driving a surge in construction across the country.
Regardless of how your living situation may change going forward, wood flooring offers great long-term value. They are also easy to maintain, and add value to a home. Plus, wood floors check all of the boxes from a home design standpoint with the continued focus on health and safety, a need for comfort and sanctuary, and a desire for versatility.
When properly maintained, the life span of a wood floor can exceed 100 years, making it a tremendous value. Solid wood floors can be sanded and refinished numerous times during their service lives and can even be stained to give them a completely new look. Decorative items like medallions and borders can be added to existing wood floors to provide an updated look as well. Best of all, over time, wood floors can adapt to any décor and style changes without having to be replaced.
To bring home the point about the value of wood floors, consider this: A survey of real estate agents concluded that homes with wood floors sell faster and for more money than homes without wood floors. The survey indicated the increase could be as much as 10 percent more, which is a significant increase in overall home value. This means if a home valued at $200,000 were to invest $10,000 in hardwood flooring, at an increased home sales value of 10 percent, the home potentially could sell for $220,000, doubling the homeowner’s initial wood flooring investment.
So, remember, when the time comes to buy a bigger home, or to downsize, homes with wood floors sell faster and for more money than homes without them. And while you are staying in your current home, wood floors are the perfect fit for any lifestyle.