A Lamb & Co. Real Estate Agent Recommends This Major Upgrade Before Selling Your Home
If you're preparing to sell your home in the near future, renovations may not be at the forefront of your mind. Yet, deciding to update a few areas in your home before listing it on the market can significantly pay off. One of those areas is your floors, and Matt Kearney, a real estate agent for Lamb & Co. who works closely with HGTV's Leslie Davis, agrees. "Over the years, I have noticed that homes with new flooring tend to sell for much more," Kearney says (via Lamb & Co.). "Replacing carpet, refinishing hardwood floors, or adding luxury vinyl plank (LVP) flooring will help make a massive difference when selling your home."
Why is this, though? There are a few reasons: The first is that it can enhance the style of your home, which attracts potential buyers. The second is that it's a relief to buyers. It costs around $3,000 on average to replace flooring per 500 square feet. By doing this before you sell, potential buyers do not have to worry about this update themselves — or footing the bill. There's nothing you can do to prevent the normal wear and tear floors experience over the years, but you can prevent buyers from noticing cracks or stains that make them think twice about putting in an offer.
How to increase your home's value with new flooring
New floors can increase your home's resale value by up to 54%. But before you lay down any planks or carpet shades, there are rules to follow to upgrade your floor to an attractive option. One of the styles that tends to sell well in homes is flooring with neutral shades. Neutral flooring provides the perfect base for potential buyers to imagine how they'd design the room with furniture, art, and other items that easily match its existing hues. Neutral tones also have the ability to make your room feel more expansive by how they handle light, which can be a significant perk if your rooms are smaller.
Besides shade selection, one helpful tip Kearney shares is upgrading the quality of your flooring. "Instead of simply replacing your carpet with new carpet, try LVP. Adding LVP flooring in high-traffic areas like the entryway, living room, or bonus room will undoubtedly increase the value of your home," he says.
Though they're a long-time love of homeowners, hardwood floors can become a nightmare to maintain. "Due to things like age, water damage, scratches, or discoloration, they will inevitably lose their original visual appeal over time," Kearney says. "If possible, try refinishing your hardwood floors to restore that original beauty."