Your home will sell faster and for more money if it has hardwood floors because the value of your home increases with hardwood flooring, which is the most preferred flooring choice. The National Wood Flooring Association surveyed real estate agents and found that houses with hardwood flooring sell for more money and quickly.
The elegance of hardwood floors will attract potential buyers, and the uniqueness, creative interior, and customizable aesthetics will urge a person to make it their own. Hardwood flooring is typically more expensive than other flooring materials, so when upgrading this flooring material, homeowners want to make sure they’re getting a good return on investment. Following are the ways hardwood flooring can add value to your home.
Tax benefits of hardwood flooring
Apart from the apparent elegance, you can also enjoy some tax benefits when you add hardwood flooring to your home. The sales tax on hardwood floors is lower because they are considered capital improvements. The exact rate can vary by state, but most states charge tax on materials instead of labour. Carpets, however, are subject to full taxation. In addition, hardwood flooring may allow you to reduce your capital gains tax when you eventually sell your home because it is a capital improvement project. The chances of this occurring are higher if you own a house for a long period of time and have accumulated a large gain.
Leverage hardwood floors to sell faster
The value of your house will be higher, and it will sell faster if you have hardwood flooring. This is what the next-generation buyers are looking for, as every real estate agent will confirm. Hardwood flooring is the most effective option for increasing your home’s value. It is best if you want to stay in it long term. However, reselling can also help you get a good deal on your house. Most houses in North America have wooden flooring, with carpeted rooms. This is not what new buyers are looking for anymore. To increase home aesthetics and cost efficiency, hardwood floors offer multiple options.
According to the realtors, such homes sell much faster as compared to traditional homes with wooden or carpeted flooring.
Sell/resell at a higher rate.
Even though Hardwood Flooring in Winnipeg and across Canada can cost a lot, you’ll always be able to resell it for a high price. Hardwood floors add value to your home as you can increase its market value. In most cases, prospective home buyers are willing to pay a higher price for a home with hardwood floors than one without them. This is because hardwood floors are so appealing to so many people across nearly all age groups. It’s difficult to figure out how much more hardwood floors cost. However, according to the USA Today survey, home buyers are willing to pay an extra $2080 for hardwood floors.
To learn more about your best flooring options based on your budget and home requirements, reach out to the professionals at Avalanche Flooring – the Best Flooring Company in Winnipeg.
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