Increasing the value of your home is one of the top reasons to renovate. Renovations can be costly, so considering the return on investment of your upgrades is a must. One of the best places to start is with new flooring.

With so many options on the market today, a little research can help ensure that you’re purchasing and installing the best choice for your space. No one wants to spend thousands of dollars on new floors only to find out later they could have gotten more value out of their project. Luckily, we did the research for you!

Our Top Pick:

You may have already guessed it, but the floor with the highest resale value is hardwood. Since hardwood is always in demand, it is an easy choice to up level your home. It’s durability and timeless quality resonates with the majority of home buyers as well as creates a warm and welcoming atmosphere for the current residents. There many various choices including maple, oak, hickory, walnut, or pine – allowing for the ultimate customization. Real estate experts across the board say hardwood flooring can boost the sales price of your home as much as 2.5 percent.

The one downside to hardwood flooring is the initial cost. Hardwood is notorious for being pricey, which may impact your renovation budget if you’re not careful. If this is the case, we recommend looking at a more affordable option like engineered hardwood or porcelain tile. The visuals of these hardwood dupes have gotten so accurate that most people have a hard time telling the difference between the real thing and the alternative. The homeowner wins in this case, with a floor that looks like a million dollars at only a fraction of the price.

Other Great Options:

In some instances, wood or wood-like materials are not the best option for your home. For example, homes in humid, tropical climates usually steer away from wood because of its incompatibility with moisture. In these cases, tile, stone, and marble floors would be the best return on investment. Tile works particularly well in high moisture rooms such as bathrooms and kitchens, as well as in high-traffic areas, and does double duty to keep the space cool and refreshing.

More To Consider:

Carpet. Eventually, all carpets will show wear and tear, much more so than hard flooring. This may have an impact on how a potential buyer views the condition and value of your home. Also, when it comes to hygiene and cleanliness, while carpets can easily be cleaned, some homeowners prefer hard surfaces for even easier cleaning.

Vinyl or Luxury Vinyl Planks (LVP). Gone are the days of grandma’s yellow vinyl tiles, today there are so many great patterns and colors. Yet when it comes to resale, be sure to factor in that some people are not aware of all the benefits of vinyl. While luxury vinyl flooring has come a long way from its creation and has increased in durability and visual appeal, unfortunately vinyl may decrease your resale value in the long run. It’s important to recognize that while you may spend less on vinyl vs. hardwood, the ROI may be less.

In the end, one of the most important things to remember is to keep the flooring you choose consistent. Constant shifting of styles and colors from room to room can leave a buyer feeling chaotic and uneasy. By choosing tried and true materials that exude quality, you can ensure increased resale prices and return on investment.