Hardwood Flooring Wins AgainBy Sarah Tobin
New Report Ranks Hardwood Flooring at the Top for Both ROI and Satisfaction
A recent report by the National Association of Realtors® had some interesting findings for homeowners considering a remodel. The two remodeling projects that delivered the largest return on investment were adding new wood flooring (118 percent) and refinished hardwood flooring (147 percent). These two projects were considered alongside bedroom and bathroom additions and a kitchen remodel.
“This report confirms what we’ve been saying to our clients for years,” said Wendy Meltzer, owner of Unique Hardwood, in SOCO, Costa Mesa. “Hardwood flooring is a great investment. Not only is it a beautiful and durable surface, it actually adds to the value of your home.”
The 2022 Remodeling Impact Report provided some interesting insights into the reasons homeowners decide to upgrade their flooring. The majority wanted to upgrade worn-out surfaces, finishes and materials while others wanted to add high-end features and improve livability.
Home Remodels Bring a Sense of Satisfaction
The Joint Center for Housing Studies at Harvard University noted that Americans spent about $420 billion dollars on home remodels in 2020. When the world shut down because of the Coronavirus pandemic, our home environments became even more important. After remodeling, 84 percent of homeowners cited a greater desire to spend more time at home, and 69 percent have increased enjoyment in their home. Home remodels also delivered a sense of satisfaction to homeowners.
The report also attributed a “joy score” to each of the remodeling projects. Both refinishing hardwood flooring and adding new hardwood flooring scored a perfect 10 on the joy score. “This is something I’ve seen time and again,” said Meltzer. “Our customers become very passionate about their flooring because it’s so beautiful and it really is very comfortable to live with. Even family pets love it!”
Visit Unique Hardwood’s Flooring Gallery in SOCO
Homeowners interested in upgrading their flooring are invited to visit the Unique Hardwood flooring gallery in SOCO, Costa Mesa to view large format samples of their luxury European oak engineered hardwood. Unique Hardwood’s professional staff will help you select the right width, finish, and collection for your upcoming remodel.
To read the 2022 Remodeling Impact Report in its entirety, download it here.