Home improvements increase your home enjoyment, but they also affect your home's value - upgrading your flooring can yield a 50 to 75% return on investment at resale*. These tips will help you plan for your flooring renovation needs with a focus on resale value:
Identify - Familiarize yourself with all the flooring options available for your home. Some of the more popular surfaces include carpet, hardwood, laminate, ceramic, stone, slate, cork, and bamboo.
Select - Base your flooring renovation decisions on three factors: style, function, and cost. Gather samples and layout your flooring as a dry run to test against your furniture, paint or wallpaper, and room design.
Consult - Seek advice from designers or installers as they can provide you with ideas and options for flooring that you may not be familiar with. Work with a company that offers free, in-home appointments and ask them to provide samples of past projects.
Diversify - Choose a variety of surfaces if renovating flooring in more than one room to break up spaces and create warmth. A mixture of carpet and hard surfaces with a neutral colour scheme can help make your flooring more stylish, functional, and comfortable.
Personalize - Make it unique while keeping an eye on resale potential. Apply stains and finishes to natural woods, design your own concrete floor with different colours and textures, or create original patterns using ceramic, slate, or stone tiles. Add your touch but ensure it is transferable.
Renew - Repaint an old hardwood floor if it's not in your budget to replace it. Staining or refinishing an aged hardwood floor can help repair cracks and scratches, make your floor easier to clean, and accentuate its natural wood colour.
Maintain - Keep your surfaces clean. On harder surfaces use natural soaps made from animal and vegetable oils that leave a protective film behind for repelling soil. Make sure to steam clean your carpets or rugs regularly.
Prevent - Avoid future wear and tear on your new flooring by using an entrance mat on the inside and outside of every doorway leading into your home. Always keep towels or a wet/dry vacuum on hand in case you need to get rid of water quickly.
Flooring upgrades are always a worthy investment for increasing the value of your home. A great looking floor adds quality and character to your space and provides a great first impression for buyers. Depending on the quality of installation, materials and maintenance, your new flooring carries a minimum life expectancy of 11 years.
*Appraisal Institute of Canada