If you just want it, go ahead especially if you are staying in the home for a while (3 to 5 years). You may not get all of your money back, but at least you get to enjoy the new flooring.
If you plan on staying in the home for a while (five plus years) and you really want to, go ahead and replace the flooring. At least you will enjoy it.
Most improvements will always cost you more money than you will get back.
The first thing I would look at is the age and condition of your current flooring and the price point of your home. Hardwood flooring is currently very popular and can truly enhance a home in a buyer's eyes. In a home that was built prior to 2006 it may need updating to compete in todays market.
I would be glad to consult with you on your home.
If damaged, then definitely replace the carpet before listing. You don't want to hand a buyer a reason to see your home in a negative light. After 10 years as a corporate relocation specialist, I can tell you that the homeowners who took the time to attack the negative issues were generally rewarded with the faster sales (although layout and location still factor very heavily, too).
Consider using the wood floors as an incentive. If a buyer comes through the house and their agent gives feedback that the buyers were really hoping for wood floors in the gameroom, then you can offer that up to seal the deal. Don't assume you know what the buyer will determine is important. These days, new wood fences can cost a lot more than new carpet, granite countertops, and are pushing equal levels to hardwood floors. Be flexible to entice that buyer who is on the fence into picking your home in the end.
Have a blessed day!
I don't often see numbers on this, but one I did see for Canada was something like 50% cost recovery.
I think it depends on how long you will be there. I would not install specifically for resale. Bathrooms and kitchens get you the most bang for your buck there.
Without knowing the price point of your home and the subdivision (but I have a pretty good guess where you are) and I don't think you are in a subdivision that follows the rules that others here have discussed for upgrades. Those are usually great rules to follow in mid sized homes.
It sounds like it would not hurt to shop pricing. I'm also guessing that a pretty big chunk of that money is for the stairs and I would say without much hesitation, that I wouldn't spend the money on wood on the back stairs if you have a home with 2 staircases. I can't even imagine one of my buyers making a decision about a purchase based on the back stairs being wood over carpet. They may like it, but I would be surprised if it was a decision point. We always take our experience with buyers (as well as current comps) into account when talking about updates and/or remodels.
The only way to know the definitive answer to your question is to know the size of your home, confirm your subdivision and the percentage 18k is to your potential list/sale price. You are welcome to email or call me (no stress or obligation) and we can just chat for a few minutes about the details and I bet there is a very easy answer to your question.
If you need to shop pricing, give David Snell with DFW Custom Wood Flooring a call at 469-767-2645. They have great prices on the nailed down hard wood floors. His pricing and quality will surprise you. I also have several names for engineered flooring. You are welcome to call me for those too.
Good luck on your home sale. I'm excited for you. You picked a great time to buy/sell. Our last home in 75034 sold in 2 days at 98% of the price. Frisco is doing great!
Sheila Goff Properties - Keller Williams
There are many â€œwhat ifsâ€ (comps, neighborhood expectations, etcâ€¦) relevant to this question but generally speakingâ€¦hardwoods in the bedrooms, back stairs and game room are a bit of a luxury when thinking from the "Investment" standpoint. When you have hardwoods in the study, hallway, dining room and living area they are highly noticable and appreciated. If you plan to live in your home a long time, it may be worth it from a "lifestyle" perspective. Hardwoods in those areas (stairs, bedrooms, game room) are not a good "investment" upgrade. Many make the mistake of over-improving their home. The type of hardwoods and the installer is highly important.
PS... Many install hardwoods and/or tile due to allergies...that makes a big difference and thereby makes this a lifestyle question vs an investment question.
Let me know if I can assist you in any way. Sammy
Sammy Gardner, Founder
The Frisco Home Center / The McKinney Home Center
Hardwood are mostly done in living, entryway eventhough I have seen some homes with hardwood in bedrooms and gameroom. You'll unlikely get your money back, though, but your home may appeal more than others since it's updated. It's good to update a home but make sure you don't overdo. For example in a neighborhood with mostly granite counter top, hardwood floor etc then yes, you want to update your home in that manner. If you are not currently working with a realtor, I'd be happy to help. I give advice on my listings and help staged the homes.
Susie Kay, GRI, CHMS, SFR
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
Servicing your real estate need is my priority!
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Wood floors do add investment resale on a home. How much depends on what other homes have sold for in your subdivision and what upgrades they had as well. If you list your home to sell, and your are the only one in your comps that has wood floors, you would likely have a higher price than the others. But again,it depends on what other comps have as well.
I would be happy to a CMA for you and show you what homes have sold for in your neighborhood and what upgrades they may have had, that way you can make a sound decision on exactly how much you want to spend.
As an Interior Decorator, I tell all my clients, wood floors are a good investment in your home. You would be surprised how many people like wood flooring in the bedrooms too!
Please feel free to text or email, I would be happy to help you.
Ebby Halliday Realtors