Hardwood floors and Appraised Value

[cdh7707]

NO IT WILL NOT : )

Thank you! I appreciate your response!

 

[Russ Kitzberger]

I do not factor hardwood floors as a separate increase or decrease if lacking. If the flooring installed is fuctional and in good condition different types of flooring should have no effect on the overall value. If there were to be any difference in value I would imagine the percentage would be so small that any appraiser would not account for it.
It's exactly the same with a composite vs a granite vs a quartz vs any type of kitchen counters.

As a side note I inspected a high value home this morning in Carmel, CA. It's going to be in excess of $4M and the entire home had vinyl planking installed. Beautiful.

I guess you could have a poolhouse sell for that in Carmel if it is on the Sea.....

We have people knocking down $200k homes in Cincinnati Ohio to build 2600 sf McMansions.

 

[Sadie]

I do not factor hardwood floors as a separate increase or decrease if lacking. If the flooring installed is fuctional and in good condition different types of flooring should have no effect on the overall value. If there were to be any difference in value I would imagine the percentage would be so small that any appraiser would not account for it.
It's exactly the same with a composite vs a granite vs a quartz vs any type of kitchen counters.

As a side note I inspected a high value home this morning in Carmel, CA. It's going to be in excess of $4M and the entire home had vinyl planking installed. Beautiful.

I appraised a high end home that the owner so regretted putting in the vinyl plank flooring. He choose the flooring because of it's looks and found out that it does not wear all that well in high traffic areas. I did not know that until then. His comments were ok for laundry rooms or bathrooms, but not the reset of the house.

 

[Tru Red]

I appraised a high end home that the owner so regretted putting in the vinyl plank flooring. He choose the flooring because of it's looks and found out that it does not wear all that well in high traffic areas. I did not know that until then. His comments were ok for laundry rooms or bathrooms, but not the reset of the house.

I suppose it also depends on the quality of the product like anything else. It made me laugh a bit under my breath to see vinyl planking in a $4M home but there it was....and it sure looked good. Being an ocean front along the California coast did not hurt either.

 

[Tim The Enchanter]

I thought the good quality vinyl planks were supposed to be very durable.
Some of them look nice.

Lots of houses here from the 1950's with oak floors, maybe under carpet.
I think ditching the carpet and refinishing the oak makes for a beautiful floor, if it is in good condition to refinish.
We did not have to ditch carpet, but did refinish the wood here.
Carpet seems to be less popular these days. But, ymmv.

 

[Salty]

I am seeing luxury vinyl plank flooring exploding everywhere. $800k house a few weeks ago they put that Home Depot Lifeproof stuff throughout the first floor. After seeing that I am seriously considering using it. I was going to go with solid hardwood, but this stuff really looked good. How will it ware after 10+ years who knows but it has a lifetime warranty. Looks like it might be easier to install so I may go with it . Or... maybe it will become the brown wall paneling of the 70's. I once had a house with the cheap pergo type crap in it and sounded hollow when you walked on it. This stuff was not that.

 

[Russ Kitzberger]

I am seeing luxury vinyl plank flooring exploding everywhere. $800k house a few weeks ago they put that Home Depot Lifeproof stuff throughout the first floor. After seeing that I am seriously considering using it. I was going to go with solid hardwood, but this stuff really looked good. How will it ware after 10+ years who knows but it has a lifetime warranty. Looks like it might be easier to install so I may go with it . Or... maybe it will become the brown wall paneling of the 70's. I once had a house with the cheap pergo type crap in it and sounded hollow when you walked on it. This stuff was not that.

Same thing happened in 2007 era with Pergo. When tradespeople are booked out months, click lock flooring is used. Any carpenter can install click lock in a day or two.

I have used both install and sand hardwood and click lock faux hardwood on residential properties. Click lock does not have the depth of grain appearance of a well polished hardwood with a high quality multi coat Bona finish and polish. I have chipped clock lock floors, can't sand and repair them like hardwood. A high quality hardwood will last 150 years with proper care and refinishing. The only time I have used click lock on high end is in the wine cellar to handle the humidity: Otherwise would have used tile.

 

[Tru Red]

I am seeing luxury vinyl plank flooring exploding everywhere. $800k house a few weeks ago they put that Home Depot Lifeproof stuff throughout the first floor. After seeing that I am seriously considering using it. I was going to go with solid hardwood, but this stuff really looked good. How will it ware after 10+ years who knows but it has a lifetime warranty. Looks like it might be easier to install so I may go with it . Or... maybe it will become the brown wall paneling of the 70's. I once had a house with the cheap pergo type crap in it and sounded hollow when you walked on it. This stuff was not that.

Vinyl planking is used in alot of high end homes around here. It looks great. Little bit softer than hardwood (more forgiveable). The "high end" products are guranateed forever and a day. I'd give it a look if I were in the market.

 

[KONA]

One of the keys to buying Vinyl Plank flooring is the top "wear" layer (20mil. or more is very durable). Watch out for the cheap stuff. Do your research before buying it.

 

[George Hatch]

I think the reaction to different types of flooring not only varies by location but also by price ranges.

In general, brokers will usually highlight in the MLS listings the finishes and features they think add to the property's value and marketability. So if you're seeing a lot of references to hardwood or carpeting or the vinyl planking or whatnot in the listings that might clue an appraiser in enough to understand they need to take the attribute under consideration. But realistically the appraisers normally approach the issue of finishes as one element of their overall quality rating and not even mention any of the specifics beyond that.