Whether you’re flipping houses or just want to make a valuable update to your home, flooring is an important aspect to consider.
Everyone wants to update their kitchens or bathrooms with marble countertops or give the house a fresh coat of paint, but too many people overlook where they walk. But just like any other update, there are a lot of options and materials to choose from, and you may not know where to begin.
Vinyl is an up-and-coming flooring material to choose from that you may be unfamiliar with. So, if you’ve been wondering, “Does luxury vinyl plank increase home value” then we have some helpful information right here!
Why Update Flooring At All?
If you’re brainstorming flooring options, such as laminate vs hardwood resale value, then you may fall into one of two camps.
You might be trying to flip a house (or your own home) or you may simply be giving your home a makeover. Updating home flooring is a great idea no matter what your end goal is, though.
You may like the look of a new sofa, an entertainment system, marble countertops, or wood cabinets, but you walk on your floor every single day. Just like people say shoes are the most important part of an outfit or tires are the most important part of your car, the same is true of your house for flooring.
It keeps you moving throughout the day, it adds aesthetic appeal to the overall home, and it can make or break an entire decor. So, there’s a lot riding on your flooring choice, but no pressure!
When flipping a home, in particular, staging is important. House flipping is a when you buy a home as-is and put your own time, effort, and/or money into remodeling and updating it for a profit.
So, it’s important to not overlook the floor when making renovations, but you need to weigh the pros and cons of different materials and styles.
What is Vinyl Plank Flooring?
When updating your flooring there are a few distinct options to choose from:
There are others, but these might be the most common. Each may have their own benefits, too.
Carpet, for example, is obviously very soft, warm, and inviting. Hardwood is expensive, but it’s impressive looking (learn more about hardwood trends).
Laminate is more affordable and retains that hardwood aesthetic. Vinyl, on the other hand, adds another layer of benefits.
Vinyl flooring is made with polyvinyl chloride (or PVC) and it mimics hardwood in a lot of ways. One of the biggest advantages to this option, other than price, is that it is waterproof.
Whereas hardwood and laminate have the potential to absorb moisture, expand, etc., luxury vinyl plank doesn’t have the same problem. This is why a lot of people prefer this option for kitchens and bathrooms.
Therefore, you can retain the aesthetic appeal of natural wood, as well as the benefit of water resistance and the affordable price point of laminate!
Does Luxury Vinyl Plank Increase Home Value?
If you’re flipping, your obvious end goal is to increase your home value, but that’s true of your own home, too.
Your home is an important and expensive investment, and all remodeling and renovation should only increase your resale value. Hardwood flooring is an easy way to increase home value.
It’s hard to make hardwood not look good, plus even when worn in, it holds a certain appeal, but it’s not necessarily cost-effective. Carpet, on the other hand, is almost completely the opposite.
High-end carpeting material can be beautiful, comfortable, and inviting, but it definitely shows wear and tear quicker than most other options. In the long run, it doesn’t exactly help with resale value.
Vinyl plank flooring throughout the house has all of the curbside appeal of hardwood, but the added benefit of water resistance. It even has scratch resistance in certain cases, which is perfect for families with pets.
At one point, people may have scoffed at the idea of vinyl. It may have been seen as outdated and lacking, but vinyl manufacturing and technology has only improved over the years.
In fact, the popularity of vinyl flooring only continues to grow to the point where many buyers are actively seeking it out as an option. And to make the deal even sweeter, luxury vinyl plank is cost effective!
One of the biggest reasons people might choose laminate over hardwood is that it is cheaper. Thankfully, vinyl flooring comes in around the same cost.
It depends on where you look and what particular styles you might go with, but it can cost $3-$4 per square foot on average. That puts it on par with laminate, yet it still retains many of the same benefits
Wood is wood.
Sure you can stain it, paint it, etc., but you’re not changing the core of what it is. Vinyl, on the other hand, is a manmade material that can be fashioned in a lot of different colors, styles, and looks.
One of the great aspects of this flooring is that you can fit it more easily into a particular decor. Maybe you’re going for a modern, neutral feel and want a greyish wood look, or maybe you need something that’s really going to pop.
Vinyl can even imitate stone, and – hey! – you can even make it bright red if that somehow fits into your chosen vibe.
All in all, luxury vinyl is more adaptable than it once was, and you don’t need to feel like you’re limited in choices.
Choosing the Right Floor for Resale Value
It doesn’t matter if you’re flipping or you just need to give your home a fresh look, the floor is sadly often neglected. Don’t make the mistake of missing out on a cost-effective update to your home!
But when choosing among different materials you may have wondered, “Does luxury vinyl plank increase home value?” The answer is a resounding yes, due to its affordable price point and added benefits of versatility, gorgeous new looks, and water resistance.
If you need more help quickly getting your house ready for sale, check out 10 of these proven tips!