Does my house need Hardwood Floors?

Question

We just bought a house that needs all new floors. I don't have a lot of money to put into it. I'd like to save a little money and put laminate flooring in the main living areas and kitchen. My family thinks that will lower the value of the house. They want me to spend more now and make the house more valuable. I agree it would make it more valuable, but I don't think I can afford it.

After everything is completed, the house will be worth between $280k and $300k. I think we're still in a price range where laminate is appropriate.

What do you think?

Answer 1

What you think is what matters.

How long do you plan on being in the house? If it is for many many years, then you are the one that will live with your decision. Everything is relative. You could spend more money on hardwood and the house may be worth more when you are ready to sell it or by that time those hardwood floors could need to be refinished anyway?

Answer 2

This is where HGTV has mislead the public.

I have never, ever seen in my career a home appraised for less b/c it had laminate vs hardwood floors.  

Never...and I have sold lots of homes and underwrote thousands...banks don't care either.

HGTV has made people think if they put $10,000 into a home that the value will go up $20K...I am here to tell you that is NOT the case.

Laminate is a PERSONAL preference.  I have both in my home...I have a high-quality laminate in my kitchen and a hardwood in the living room and not one person, even after I have pointed it out to them, has been able to tell the difference.

High -quality laminate is actually MORE expensive than a hardwood....so if you are trying to go cheap...then yes, it will look bad if you do it.

PS:  Real hardwood floors don't survive major water damage like a dishwasher overflow either.  They crack and eventually can turn black.  Laminate doesn't crack or turn, but it pops up.

To those that say laminate looks "cheap" has obviously never seen QUALITY laminate.  What I have in my home even has a beveled edge like hardwood...and it's a  "game" when friends come over to figure out which one is the real thing in my kitchen vs my living room....so far, no one can tell the difference.  If you have lots of kids or dogs...your hardwoods will look 20 years old in 2.

Answer 3

You have not revealed in which market you have this property.  Where I live, a $280K house is a very nice property.  On either of the ocean coasts (Boston, San Diego) such a property is very middling.  If you are in a high priced area, I agree with your family.  If you live in an area like mine, I agree with you.

Answer 4

Laminate sounds ok, but like the rest of the country, i bet you're in a declining market.  buying a house to fix up may not be worth it.  You might not get extra money b/c it has hardwoods vs. carpet or tile.  People right now are looking purely at price.

But, if you are really looking to fix it up, go with hardwood.

Answer 5

If you just bought the house, then you'll be living there for atleast 5 years right?  You can always go for the more expensive renovations at a later date.  Go for the cheapest solution now so that you can have the money to do other things around the house to make it your own.

Answer 6

first thing my buyers say when they walk into a home that has laminate flooring is "how cheap" real hardwood is preferred for overall value - otherwise go with carpet (it's cheap and better than laminate)

Answer 7

Everyone I know of that put in laminate flooring was not happy with it. One person's dishwasher overflowed, and her flooring came up and had to be replaced (only a couple of years old). I personally would pay a little more for a house with hardwood floors than I would for laminate.

Answer 8

Laminate flooring is NEVER appropriate.   It is gross and cheap cheap cheap.     Linolium looks better and is equally cheap.

I never put either of them in, and I rent my properties.    Go with a tile floor, it is not expensive (buy someplace cheap like Home Depot), last forever and looks decent.

If you want to "go green" look into bamboo flooring.   I personally do not care for it, BUT it will increase the value and sellability of your home.

Answer 9

I say do what you want.  We are all different so no one is going to agree on everything even if it where in your budget and i don't see where it well change the value.   Times change and people change so buy the time you sell the house wood floors may be out anyway or the new owners will change more than just the floors.

Answer 10

I vote for laminate in the kitchen and hardwood in the living areas.