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Increase Your Home’s ROI Potential With a Flooring Remodel

Bryan Park, CEO of Footprints Floors, explains how remodeling floors ahead of the spring home-selling season can boost the return on investment on a home by improving its aesthetics, functionality and livability.

By Morgan Wood1851 Franchise Contributor
SPONSOREDUpdated 3:15PM 04/05/24

For homeowners looking to maximize the return on their investment during the busy spring home-selling season, remodeling the floors is one of the most reliable options. Unlike home remodeling and renovation projects meant to modernize the aesthetics of the space or simply “mix things up” for the homeowners’ remaining time in the home, updated flooring is a good option as it brings both practical and cosmetic benefits.

“Updating the flooring in your home is a great way to boost value as you prepare to sell,” said Bryan Park, founder and CEO of Footprints Floors. “Once our teams are able to connect with the homeowner and discuss their goals and preferences, we can complete a whole-house floor remodel in as little as two weeks.”

Alongside the other preparations necessary to get a home on the market, a two-week renovation is an easy-to-add step that can significantly boost the likelihood of a successful sale.

In 2023, Americans spent $485 billion remodeling their homes, demonstrating a clear willingness to invest in the value of a home. Two of the most impactful projects are hardwood flooring refinishing and new wood flooring, providing a 147% and 118% return on investment, respectively. 

These value increases are driven by a few major factors:

  • A great first impression
  • Increased durability and longevity
  • Higher perceived value
  • Aesthetic improvements

New, beautiful floors can contribute to a great listing. Homes with high-quality, impactful listing photos generally sell more quickly and for a higher price, and impressive flooring in the listing photos can help the home to make a standout first impression with viewers. The floors continue to support the potential sale when prospective buyers visit the home in person. When buyers can experience the new flooring in person and see how the floors tie other aspects of the home together, the aesthetics of the home become a major selling point.

There are also clear practical benefits to updating wood floors, which may appeal particularly to buyers who prioritize practicality and functionality. Wood floors are long-lasting and can be refinished to refresh the look of a space without going through an entire remodel. Buyers are often willing to pay more for a home that they know will be long-lasting and easy to modify if needed. Future savings can be compared to the current price of the home, increasing perceived value and encouraging a quicker sale or higher purchase price.

“Home buyers are looking for their best fit and — for many people and families — updated, beautiful and long-lasting floors are a substantial benefit,” said Park. “Whether you’re looking to list your home for the 2024 selling season or plan to sell it in a few years, updated floors can add value and greatly increase the return on your investment.”

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