Kristina,

Hardwood definitely adds a lot but it's doubtful you will realize increasing your homes value by $17,000. Flooring is not considered an upgrade in a home but a maintenance issue.

As mentiioned earlier, $17,000 seems excessive. We would recommend leaving the bedrooms carpeted and changing only the features rooms to hardwood. Living room, dining room, den, halls. This will cut down on the expense.

Good luck with your decision.

Most likely not. The rule of thumb is that the cost of the improvement will increase the value by about 50% of the improvement cost. There are many options,o the rthan hardwood that you may want to consider as well.

If the paln is to sell your property in the near future- I would consider hardwood or other quality flooring in the common areas of the home and good quality carpet in the bedrooms. In this market "lower priced" homes are more attractive to buyers- there are plenty of properties that are totally renovated at the higher end of the pricing spectrum.

If you paln on enjoying the improvements- then it is OK to go with the very best. Kitchens and Bathrooms are what buyers like to see in top form. Windows and HVAC are another important element.

You may not get back the full cost of your improvement in a declining market. It will however make your home stand out. you should consider hardwood in the living room, dining room, hall stairs and maybe family room to save some money. too much hardwood isnt always a good thing especially in a colder area as hardwood is a lot colder than carpet will feel in the dead of winter on a cold day/night. good luck

I would speculate it will increase the value by about $7000. Some homes have too much wood and it is less special the more you see. Consider wood in just a few key rooms.
You can put carpet in about 5 times for the estimate you have. For either carpet or wood flooring, you may want to visit the Carpet Mill Outlet in Barrington, near the corner of Rt 59 and Rt 14--- 847-381-6171.

Dear Kristina,
I am Certfied Appraiser and an agent for Keller Williams. From an appraisal standpoint, hardwood floors are better quality than vinyl or laminate and I would agree with Gino that you will probably not get back your cost dollar for dollar from the market. But your home may sell faster because you are better than your competition and this is a competitive market... lower marketing time is also worth something.
Also when hardwood floors are added later, they aften look like that... an after thought because they get installed around cabinets which limits future remodeling with a new cabinet configuration and sometimes just looks like it was not installed right becasue the contractor cut a board short and filled in with putty, etc. Get references from your contractor.
Based on your description of your home, $17,000 sounds high for hardwood floors. Be sure to get at least a couple estimates. I have found some great contractors on Craig's List.

In addition to the cost, consider what is typical and expected in your market area. Do the buyers in your neighborhood expect that homes in your price range will have hardwood flooring? Do most of your neighbors have hardwood? Don't over-improve, but be the best house value in the market for the money. There may be a better way to spend your improvement dollars.
Best of luck to you.

Cindy Strahota
Keller Williams Fox Valley Realty
Real Estater Consultant & IL Certified RE Appraiser

In all honestly one item doesn't increase value.
Hardwood floors are more valuable than carpet but if the rest of the home isn't up to par, the hardwood floors isn't increasing value of your home.

However to simply answer your questions without any "variables or what ifs" you should get .20 to .30 cents back per dollar.

Also speaking, harwdwood floors may help you SELL the home faster than carpet or vinyl.

If you are thinking of selling soon, I can stop by an share more of my thoughts on what "Buyers" are looking for in a home. E-mail me at gmetallo@comcast.net.