NAR: Hardwood Projects Provide Highest ROI

In an interview provided by FCNews.net, Bryan Park of Footprints Floors corroborated this information and provided additional insight.

“Kitchens and bathrooms are often the first A study by the National Association of Realtors (NAR) found that the cost value of refinished or new wood floors has a greater cost-to-return ratio than other home renovations.

Specifically, NAR found that by refinishing wood floors, there was a return of 147% when anticipating the future sale of said home. The figures provided by NAR were that if a homeowner invested approximately $3,400 into refinishing the flooring for their home, they would receive back approximately $5,000 upon selling. Similarly, installing new wood floors had a return of 118%. If a homeowner invested $5,500 into new wood floors, they would recoup $6,500.

This survey information is invaluable for retail sales associates (RSAs) as they can stress to customers that while flooring may have a hefty price tag, the return on investment is financially and emotionally worth it. Customer surveys found that after completing their wood flooring projects, they had a greater desire to be home, greater enjoyment while being home, and it gave them a sense of accomplishment.

rooms to get a remodel, but investing in flooring can pay dividends for years to come,” said Park. For comparison, a kitchen only has a 67% return on investment.