Most of the Buyers I've shown homes to love to see tile flooring. It's not a must, but it does get noticed. You could do something standard (straight lines) or something more custom that will set you apart from the competition (a pattern design of some kind). Either way, you probably have less than 300 SF off space that needs to be tiled, so it shouldn't get expensive at all. The Home Depot and Lowes has excellent sales going on all the time on discontinued tile. We bought some for our new house at .68 cents per SF...it's a nice neutral color, but not boring. We are going to lay it in a pattern for a more custom look--it's just a tad more expensive, but gives it a nice look.
Something else to think about that will either add to your cost or take away from it is: what type of sub flooring do you have? If you're on a slab, then you can lay the tile on top of the slab. If you are on a crawlspace and the area can get wet or humid such as a bathroom and kitchen and laundry area, you need to have Bakerboard underneath the tile which will add a little cost (material + labor).
ROI: that is so hard to anticipate--in the price range you're in, I can't remember any of my Buyers ever saying to me: "I'm going to buy this house because it has tile." Ya know? I have had buyers purchase a house because it was more updated the others and showed better than the others. My buyers are looking at the condition of the interior and exterior of the house, the neighborhood it's in, the backyard, and the location. It's such a big combination of things.
For example, if you were going to tell a buyer that you would lay down tile for $1,000 or give them the $1,000 for closing costs--the majority of the buyers would choose to get $1,000 in closing costs in your price range. Tile floors are nice, and if you feel it would add real value to the home, you can do it. However, I would probably price it where I want to be and offer x amount in closing costs incentives for the Buyer. I think that would move your house more than anything. That's my two cents :)
Have a good one!
Realty Executives Associates
What I would do is say $1,000 in closing costs to the buyer paid by the seller if closed by December 31, 2008, or something like that. That $1,000 in closing costs comes directly out of your profits, so you don't actually come up with that. The title company will just deduct it at closing. In your price range, closing cost incentives are highly sought after as many will be first time home buyers that would appreciate the help and would make your listing very desirable.
Depending upon your demographic location, temperature is also a consideration... if you experience very cold winters, the flooring may be cold. Check out wood flooring or the laminate wood flooring, as another option. Try Lumber Liquidators,,, they have some awesome deals! Holds value very well, looks great, easy upkeep, adjusts to temperature better, and can be more forgiving on spills and drops. I've seen glasses bounce ! ( it hit just the right way;o) ) You can also check out the neighborhood. If the home is only 2 years old, what do the other homes have? Look at the present for sale competition, what condition/type of flooring do they have? Other considerations,,, are you putting the flooring in yourself or hiring out? These costs will need to be factored in to give you a better idea on ROI.
Sounds like you have your work cut out for you!! Good luck,
Tina Evans, Principal Broker
Most buyers, however, would probably be turned off by it I think. I haven't had many buyers that prefer stained concrete instead of tile. I think there are unique buyers out there that would love it, but it might be too risky to do. You want your house to appeal to as many buyers as possible.