New Floors Can Skyrocket Your Home’s Resale Value, Especially in the Current Financial Climate
The Australian housing market has undergone some intense reverberations over the past several decades, with numerous rises and falls caused by a myriad of global occurrences, market shifts, and residential resettlements, but it’s important to note that today’s landscape presents a unique opportunity for homeowners across the country.
With upwards of 50% price increases in Australian population centres, you might think that the housing market is beginning to dry up in terms of discernible interest, but this train of thought is largely unfounded.
Due to the unremitting under-supply and continued regional migration, it’s still a seller’s market and the current financial conditions represent the perfect opportunity for homeowners to begin reaping the rewards of prudent investments.
If you’re ready to bolster your home’s resale value, augment its aesthetic appeal, and finally strike a balance with regard to your outstanding mortgage loan, now’s the time to begin pouring money back into your property with both hands.
In this regard, let’s take a look at the benefits of installing new floors in your home – from a value-added perspective, of course.
The Hard Numbers
Before addressing the specific flooring options available in today’s day and age, it’s important to understand the financial ramifications of contracting an installation or refurbishment.
According to renowned Australian real estate agents, appraisers, and assessors, homes with new floors are…
- …easier to unload, according to 99% of agents.
- …valued at higher price points, according to 85% of assessors.
- …sold with minimal negotiating, according to 82% of realtors.
To boot, homeowners can recoup anywhere from 75% to three times the cost of the initial installation, which means that new floors create an immediate positive impact on your home’s financial matrix.
Today’s Most Popular Flooring Iterations
Now that you understand the remunerative nature of installing new floors, it’s in your best interests to learn more about the most prevalent options so that you can display some acumen and insight during your initial consultation. Shown below are the three most popular flooring variants:
- Timber: With a high-quality construct and loads of rustic appeal, timber floors are perfect for their traditional properties. Regardless of whether you opt for Heritage Oak, Blue Gum, or Jatoba wood, timber flooring prices are very affordable – especially when taking into account the fact that they can last for several decades with little-to-no required maintenance.
- Luxury Vinyl Tile (LVT): LVT floors feature a fully decomposable and eco-friendly makeup, with no metals, solvent-based inks, formaldehydes, or PCP elements included in the manufacturing process. They are also resistant to scratches, scuffs, and stains, not to mention the fact that they feature a waterproof membrane to defend against mould, mildew, bacteria, and excess
- Laminate Flooring: In contrast to the aforementioned options, laminate flooring doesn’t have to be nailed or glued to the subfloor surface, which naturally simplifies the installation process and reduces labour costs along the way. They are perfect for high foot traffic areas and you don’t have to bend over backwards to clean and maintain the surface; a periodic sweeping and mopping exercise will more than suffice.
With this handy guide by your side, you’re more than prepared to start shopping for new floors!