Back in the 1950’s and 60’s carpeting over hardwood floors was common. Sometimes the carpeting was put in right after the home was built and the floors underneath it are in mint condition.
Home buyers prefer hardwood floors. I have known this for many years. National Association of REALTORS® found that 54% of home buyers were willing to pay more for a home with hardwood flooring. (study was done in 2016)
I am not suggesting that people who want to sell their homes run out and replace the carpeting with hardwood floors. Sometimes the carpeting needs to be replaced and there is hardwood flooring under it. Even hardwood floors that need a little work are better than old carpeting and usually better than new carpeting.
From experience, I know that there are certain types of homes that people expect to see hardwood flooring in. People expect older homes to have hardwood floors. That doesn’t mean that hardwood is preferred in bedrooms, kitchens, and baths or that every room in the house has to have hardwood floors.
It should also be noted that a buyer’s willingness to pay more for a home with hardwood doesn’t mean that they will be willing to pay enough to cover the cost of the hardwood floors. There is quite a price range for the flooring and it doesn’t always have to be oak.
Some of the most popular flooring options include mid-priced varieties such as teak, American cherry, and oak, which costs $5 to $10 per square foot for materials and another $4 to $8 per square foot for installation. Carpeting costs a lot less, which is one of the reasons why it became so popular.
There are a lot of choices even composite wood floors. Dark wood floors have made a big comeback.
Nothing is really all that black and white when it comes to making improvements that will have a positive impact on resale value. There are shades of gray but it is good to know home buyers will pay more for homes with hardwood floors.