Does Flooring Type Affect An Appraisal

This type of appraisal can provide some very good information about whether the bath renovation is a good investment because it will compare the renovation cost to the added value.

Does flooring type affect an appraisal.

Some houses have stained ceilings due to leakage in the roof. Even if you replace one of these essential home features the appraisal value may not increase much if at all. By going with a tile flooring you could boost the value of your home by 5 10k easily. How do the different types of hardwood vary in cost.

Stained ceiling or roof. The home s amenities the number of bedrooms and bathrooms floor plan functionality. These items include but are not limited to your home s roof gutters siding furnace and flooring. Buyers may like the updated flooring and offer more as a result but don t expect a higher appraised value.

If these elements are functioning the way they should and are of good or standard condition the appraisal value will remain stable. Marred sheetrock and doors with holes or nails punched in them or worn out carpets and tiles will also have an adverse effect on the appraisal of your home. And while there are kinds of flooring that increase home value more than others like hardwood versus carpeting the real challenge in selling an imperfect home is knowing which remodeling projects will increase value and which will decrease value. Typically a home with a more open floor plan has greater value than one with a chaotic array of rooms pieced together.

In addition the appraiser will look at the home s layout. An updated kitchen and bathrooms energy saving central air and even hardwood flooring will increase the amount of your appraisal. So if it will cost 10 000 for the renovation but the value added is only 5 000 then that would not be a good return on investment. Stained red oak the most common wood strip flooring nationwide stained red oak costs about 3 30 per square foot.

New flooring can add a ton of perceived value encourage higher offers and even make a home sell faster but it may not add dollars to your appraisal. A property s appraisal value is influenced by recent sales of similar properties and by current market trends. While new carpeting might not be the best way to boost the appraisal value of your home it can definitely help under the right circumstances.