Flooring Values in a Changing Market
Why is looking for flooring values important? Money is tight so flipping a home is now riskier then ever. Yet to a shrewd investor, there are still opportunities. One might argue that a person with a keen eye and good common sense can actually still do quite well. I have seen such examples first hand, and while some cases in one area won’t work well in another, let me share some basics as they pertain to hardwood flooring.
Make the investment where it is noticed first. As we enter a home or a room, impressions are made, so WOW them from standing in the doorway looking in. An entrance way dome in a smooth, flat and decidedly REAL hardwood will give an immediate impression of quality as well as a psychological feeling of warmth and stability. These ‘impressions’ right off the bat, are very easy to obtain using even inexpensive unfinished flooring and doing a fair or better job of lightly sanding and finishing. A pre-finished floor will be seen as better then cold hard tile or carpet that has no resale value…but its still a cheap ‘quick fix’ look compared to a floor that is site finished. And NEVER insult your would be buyers with the laminate products, they are often seen as something that needs to be removed in order to even sell.
If you take the time to see how inexpensively you can buy unfinished hardwood flooring, how easy it is to put down and finish…weigh that with the sanitary aspects that we have talked about (no gaps between the boards for food, hair or dust mites) and just LOOK at the finished results, you will find the WOW factor is actually amazingly affordable. It is not uncommon to expect that a $2500 investment in unfinished flooring could result in a $10,000 increase in selling price and a far shorter time on market.
Conclusion, WOW them! Add a border, take maple with a cherry inset…a little extra time installing, no extra cost of materials…a million dollars worth of WOW when the client walks in. Be smart, and you will see there is still smart ways to prosper in this or any economy.
Never try to sell what you wouldn’t want to buy.
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