Which ads more value to your home?
When it comes to home improvement, choosing the right flooring can make a significant difference in your property’s value. Hardwood flooring vs. Luxury Vinyl Plank (LVP) is a hot topic among homeowners and real estate agents alike. But which one is the better choice for increasing your home’s resale value?
The Appeal of Hardwood Flooring
Hardwood floors have long been a favorite among homeowners and real estate agents. Their natural beauty, durability, and timeless appeal make them a solid investment. According to a report by the National Wood Flooring Association (NWFA), hardwood floors can yield a return on investment (ROI) of 70% to 80%. Additionally, homes with hardwood floors tend to sell faster and at higher prices compared to those without.
The Rise of Luxury Vinyl Plank (LVP)
In recent years, LVP has gained popularity as a cost-effective alternative to hardwood. LVP is known for its durability, water resistance, and ease of installation. It’s a great option for high-traffic areas and spaces prone to moisture, such as kitchens and bathrooms. However, some real estate experts caution that LVP may not have the same resale value as hardwood.
Designer’s Perspective
Renowned interior designer, Martha Stewart, shares her thoughts on the hardwood vs. LVP debate. According to Stewart, “While LVP offers practical benefits like durability and affordability, it lacks the timeless charm and natural beauty of hardwood. In my experience, clients who invest in hardwood flooring often see a higher return on investment, especially in high-end markets. Hardwood floors can be refinished and restored, adding to their longevity and appeal.”
Recent Studies and Market Trends
A study by House Digest highlights the long-term effects of vinyl flooring on home resale value. While LVP is praised for its practicality and affordability, it may not charm every buyer. Lindsey Schmidt, a licensed realtor based in Virginia, recommends using LVP in areas that require durability, such as bathrooms and basements. However, she advises against using it throughout the entire home, as some buyers may perceive it as a “flip” and prefer hardwood in living and dining rooms.
Making the Right Choice
Ultimately, the decision between hardwood and LVP depends on your specific needs and market conditions. If you’re looking to maximize your home’s resale value and appeal to a wide range of buyers, hardwood may be the better choice. On the other hand, if you’re on a budget and need a durable, low-maintenance flooring option, LVP could be a suitable alternative.
Conclusion
Both hardwood and LVP have their pros and cons, but understanding their impact on your home’s value is crucial. By considering recent studies and market trends, as well as expert opinions, you can make an informed decision that aligns with your goals and budget.
For more insights on this topic, you can read the article on Martha Stewart’s website here.
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