Buying a home is one of life’s biggest decisions. For most people, it includes a serious financial commitment to a bank that lasts for the following 15 to 30 years.
Choosing a property considering all the factors that influence the price is the key to choosing wisely.
Buying a home with a lower price that needs a lot of renovation can come up much costly than purchasing a house with a higher rate that doesn’t need so much polishing.
The usual factors that are considered while buying a new property are location, room for expanding, a second bathroom, parking space and home improvements.
We wanted to find out if wood flooring affects the price of the property. The research was a sales initiative that turned up with interesting results - says Hardwood Floor Store’s director Russel Calder.
The research: the biggest difference in Glasgow
The price comparison of property with wood flooring and without it was conducted in 16 major cities throughout the UK (Glasgow, Birmingham, Cardiff, Manchester, London, Kingston Upon Hull, Preston, Coventry, Reading, Bristol, Leicester, Nottingham, Sheffield, Leeds, Liverpool and Sunderland).
Similar properties with and without wood flooring were taken in comparison and in every city, the result was the same: wood flooring adds value to a home.
The biggest difference in the property price based on floor type was found in Glasgow, a 60.5%.
Wood floors increase the value of homes for a significant percentage in Birmingham (38,6%), Kingston Upon Hull (34,30%), Manchester (29,7%), Cardiff (28,8%) and Preston (28%).
Liverpool is also one of the cities where it is valuable to invest in wood floors, the price of properties is 12% higher in value.
Wood floors increase the home value in Coventry and Nottingham by 8%, but that percentage is lower in our capital.
London’s property market was always very location oriented, so the wood floor doesn’t add so much more value to a home, just a modest 6% (which, if we consider the London property prices can be a really high sum).
Value to the quality of life
Having wood floors definitely increases the value of the home but it also contributes to the quality of life.
Quality wood floors can last a lifetime. They can be refurbished and reused several times. At the same time, they bring that nature, high-quality look into a home. These kind of floors are incredibly easy to clean and maintain a healthy indoor air quality - explains Calder.
For more information, visit: https://www.hardwoodfloorstore.co.uk/