
In the past several decades, hardwood floors have replaced carpeting as the most desirable flooring option for homeowners. However, because wood floors don’t come cheap, some homeowners are left wondering if they’re worth the investment.
To clear the air, the experts at SVB Wood Floors are breaking down the benefits of three main types of flooring, as well as offering valuable insights on which has the best return on investment.
Related Read: The Best Time to Add Hardwood Floors during Your Remodeling Project
Option #1: Carpet
It depends on several factors including quality, traffic, and maintenance. It’s certainly possible for a high-quality, well-cared for carpet in a low-traffic area to last up to 20 years at $15-$20 per square yard, but the lifespan of carpeting cannot be absolutely determined.
Option #2: Tile
Although the tile itself is easy to clean, the grout is notoriously hard to maintain and keep looking fresh. However, porcelain tile is also a pricier option than other tiles — costing around $4-$12 per square foot installed. Plus, Â installation is time-consuming, even for a professional.
Option #3: Hardwood Floors
The most common hardwoods, such as oak, maple, walnut or cherry, cost an average of $5-$10 per square foot plus another $4-$8 for installation. Although this isn’t an inexpensive up-front investment, consider the fact that they may outlive you, and will increase the market value of your home substantially. According to Leslie Piper, Home Advisor’s consumer housing specialist, and a realtor herself, most buyers today want hardwood floors, and may pass up houses that don’t have them! Overall, hardwood flooring offers, by far, the best ROI for your money.