Why Refinishing Your Hardwood Floors is a Solid Investment



There’s nothing like hardwood floors to complete a beautiful home. They are both durable and elegant. They also add significant value to your house, that would otherwise not be there with a linoleum or carpeted floor finish, for instance. However, even resilient wood floors can become scuffed, scratched, and faded over time. When this occurs it’s important to refinish them professionally. 


Say the professionals at Tri Point Flooring, if your hardwood floor is covered in nicks, scratches, and scuff marks, it’s time to have them buffed and coated. It’s also possible to change your floor’s gloss to semi-gloss, Satin, or even a high gloss. This would not only restore your initial home investment but increase it, which is especially important if you’re planning on putting the house on the market. 


What it Costs to Refinish a Hardwood Floor


According to a recent article, sanding, buffing, and smoothing your hardwood floors is a fairly straightforward process for a reputable wood flooring outfit. This will run your around $2,500 to $3,000.


Or, if you’re more the type to do-it-yourself (DIY), you can rent a sander and attack the project on your own. This will cost only about a third of what a professional will charge. But if you decide to put in new floor, the National Association of Realtors (NAR) claims you need to plan on spending about $5,000 minimum. That’s why it makes more sense to rehabilitate old floors rather than buy new. 


Return on Investment


Hardwood floors are said to deliver a terrific return on initial home investment. That’s why if your floors need work, it’s worth the cost and effort to get them back in their original shape. Your cost recovery for spending $2,600 to $3,000 for a floor rehab is likely to be 100 percent. This means you will not only get your money back, you will make money when you sell. 


27 percent of realtors believe it’s a good idea for sellers to refinish their hardwood floors prior to listing the home on the market, while 5 percent claim that by doing so, it has helped them close the deal. 


Also, installing a brand new wood floor can potentially provide an even better 106 percent return on investment (ROI)However, if your existing floors are not in bad shape, it’s still a better idea to have them refinished rather put all that cash upfront to purchase new. 


To Refinish or Not Refinish Your Hardwood Floors


Refinishing your existing hardwood floors doesn’t just add to your home’s resale value, it makes for a higher quality of living. If you have a rental property or Airbnb that features wood floors, you can charge a higher rent. 


One caveat. Young kids and hardwood floors don’t always go well together. If you have little ones running around, you might want to hold off on refinishing your existing floors. Between their toys and their constant stomping around, your hardwood floors, although durable, will still take a beating. It’s a better idea to wait a few years when they are more under control before investing in refinishing. 


Refinishing Rental Properties


Just like waiting until the kids have matured a little before spending the money to refinish, you might want to hold off on refinishing your rental property for a while too. This is especially true if you don’t have a lot of long-term renters. 


The constant moving in and out that comes from short-term renters can cause a lot of wear and tear on hardwood floors. That said, it’s probably a better bet to hold off until you’re about to put the property on the market. 


Elegant Hardwood Floors


There’s no denying the elegance of hardwood floors. There’s also no denying their overall durability too. Hardwood floors stain far less than floors covered with carpeting. But they also tend of get scuffed and can even chip when mistreated by high foot traffic, the pushing in and out of chairs, not to mention the kids plastic toys being tossed around all day. 


But if you’re planning on putting your home on the market, it will pay to have your hardwood floors refinished by a certified professional who can even enhance your existing floors with new stain color options like antique brown, aged barrel, cherry, coffee brown, English chestnut, red mahogany, gunstock, and so much more. The investment will pay off in spades.


Source

No comments:

Post a Comment

I love comments. Please feel free to leave a comment. I would love to talk to you further

Get widget
Dear Readers: At this time all giveaways on Maria's Space are for the United States unless otherwise noted.