You’d Never Guess This Is the Most Profitable Home Improvement You Can Make…

This simple update brings a 147% return on investment

Do you know what home improvement investment will net you the biggest returns, according to the National Association of Realtor’s(NAR) Remodeling Impact Report?

Refinishing hardwood floors results in a 147% return on investment!

Jessica Lautz, NAR’s vice president of research, says in a realtor.com post, “It looks beautiful in photos and more people are relying on technology to search for homes these days.  Wood flooring really feels more hygienic than having a carpet in your home…And pet lovers and owners want hardwood floors for the ease to clean.”

Homeowners recouped 118% percent of the cost to replace wood flooring in their home sales.

The top two reasons homeowners decided to refinish hardwood flooring was to “upgrade worn-out surfaces, finishes, and materials”--for 55%--and “to add features and improve livability” for 18%.

After this improvement was completed, 100% of homeowners had a greater desire to be home; 64% experienced increased enjoyment of their home; and 64% felt “a major sense of accomplishment when they think of the project.”

The National Association of the Remodeling Industry (NARI) estimates the cost of hardwood flooring is about $3,400 while realtors believe the estimated expense recovered from the improvement is $5,000, yielding the 147% recovered value.

Post authored by Lora Bray.

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