Toronto Flooring Options—Is Hardwood the Best Investment?

Longevity and value are two important factors to keep in mind when considering hardwood flooring in Toronto.

The former considers the lifespan of the floor itself and how cost-effective it is to invest this type of flooring. The latter accounts for how much it can increase the appeal of a property and improve resale value. Fortunately for homeowners, these floors are an ideal investment whether you are planning to live in your home for decades or sell it in a few years.

Long-Lasting Looks

Most types of flooring will last for at least a decade before needing replacement but only this type of flooring has the potential to outlive you

When properly maintained, hardwood flooring in Toronto can easily last fifty years or more. Some historic buildings even have these floors that date back over a century. Although they do not have the lowest up-front cost, their unmatched lifespan means they are a better investment for anyone with a long-term view. This longevity is especially valuable for homeowners who anticipate the house being inherited by a family member. Basic maintenance like routine cleaning and proactive steps like putting padding on furniture legs goes a long way to securing your investmen. It will also be important to recoat the floor every five years or so and have the surface refinished about once a decade. This will allow your floors to look brand new even if they’re older than some of the people walking on top.

A good investment

Even if you don’t plan on settling down in your current home, it can still be a good investment to get hardwood flooring in Toronto. This is because it can significantly improve a home’s resale value—adding up to 2.5% to the sale price by some estimates. This may not sound like a large portion but with houses easily going for six figures or more, that 2.5% will be extremely noticeable. Homes with these floors installed have an average ROI of between 70% and 80%, more than justifying the value of the initial investment.

Better Housing Value

Species of Wood You Use

These floors also offer another advantage when selling your home: they make it more popular to buyers

There are two major reasons for this. The first is that the flooring simply looks better and makes a home more attractive, especially when compared to surfaces like carpet that are more likely to show their age. Second, home buyers prefer properties that are move-in ready.If a potential buyer likes your home but knows they’ll end up replacing your floor with hardwood, they’ll be less likely to place a bid. In a way, installing it in living rooms or bedrooms is similar to repainting the walls—an investment that appeals to buyers because it’s a renovation they won’t have to do themselves after purchase. If you want to maximize the value these floors can bring to your home, pay attention to the species of wood you use. Ash is particularly popular but oak, maple, walnut, and cherry are also strong contenders that will further enhance your home’s appeal.

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