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Old 10-02-2014, 09:34 AM
 
Location: K.T.
454 posts, read 1,581,927 times
Reputation: 243

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This is a question for the Realtors in Katy, TX or who have knowledge of this area. We are considering to install wood floors on the lower level of our home in Katy, TX. Currently we have a mix between 20" porcelain tiles in the foyer, bathrooms, laundry room, kitchen, and breakfast room....but we have carpet in the living room, master bedroom, dining room, and study. I had Lumber Liquidators come out and measure the surface area and downstairs in those 4 rooms we would need to purchase around 1100 sq/ft of hardwood floors. What I am curious about is that if I decided to sell my home next summer, and the home was worth xxx amount of money as it is with the carpet and such, what would the value be with hardwood floors? Is there any return on investment? Since I am considering moving in the next year or two, should I even consider installing wood flooring or just put in new carpet before listing it at that time? The carpet in the house is perfectly fine, but it's 5 yrs old and you can see a slight flattening of the carpet in the high traffic areas of the home.

Relevant information about the home for comps is that it's a Westin Castlebrooke 4bdr, 3.5bath, 2.5 car garage, about 3600-3700 sq/ft, 10,000 sq/ft lot in SW Katy in Westheimer Lakes North. Price wise I'd assume the home should be in the low-mid $300's, but the market is changing so fast over here, I'm not sure what it's worth. But my question is basically, would hardwood floors increase the value of the home on a price per sq/ft basis enough to offset the costs of the hardwoods, and if not, would it increase the value at all in your professional opinion? I don't want to flush ~$10,000 down the toilet and I understand that hardwood floors can help the home sell faster, show better, etc... but when it comes to the dollar figure, are they worth anything over nice carpet in the current market in Katy, TX right now?
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Old 10-02-2014, 09:52 AM
 
Location: Clear Lake
200 posts, read 295,931 times
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from what I've learned from appraisers I have spoke with the safe/average figure to go with is 30% of the cost of most improvements. of course there is some flex room in there depending on other factors and the particular appraiser you get.

I bet cheryjohns will have more info if she posts an answer!

this site also might have some info but at the moment I don't have time to thoroughly search it:
Home Ownership | Home Improvement | HouseLogic
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Old 10-02-2014, 11:48 AM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,142,455 times
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The answer is yes on this price point. Another alternative is to keep carpet in the master - and wood in the other three rooms. There are a lot of buyers who actually prefer a "soft" floor in the bedroom.

Last edited by cheryjohns; 10-02-2014 at 12:57 PM..
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Old 10-02-2014, 12:49 PM
 
9 posts, read 15,684 times
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So happy I found this question! Can you tell me about what you were charged per sq.ft. and if this was for unfinished wood that needed to be sanded or pre-finished wood which already had the color on it? My reason for asking is that my husband owns a hardwood flooring company in Chicago. We are seriously considering moving to Houston and were wondering what the average rate per sq ft is for hardwood floors in that area? He is worried about getting his business up and running there. Here in Chicago, he charges around $6.50-$7 per sq. My cousin who lives in Houston said he paid $10 per sq.. Can it really be that much more in the South? From what I hear cost of living is cheaper too, which is an added bonus. I also prefer heat over snow
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Old 10-02-2014, 12:59 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,142,455 times
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Quote:
Originally Posted by annam726 View Post
So happy I found this question! Can you tell me about what you were charged per sq.ft. and if this was for unfinished wood that needed to be sanded or pre-finished wood which already had the color on it? My reason for asking is that my husband owns a hardwood flooring company in Chicago. We are seriously considering moving to Houston and were wondering what the average rate per sq ft is for hardwood floors in that area? He is worried about getting his business up and running there. Here in Chicago, he charges around $6.50-$7 per sq. My cousin who lives in Houston said he paid $10 per sq.. Can it really be that much more in the South? From what I hear cost of living is cheaper too, which is an added bonus. I also prefer heat over snow
It's not an apples/apples comparison to Lumber Liquidators. This is a discount place that buys overruns from builders, etc. They have great deals but a lot of people will go to regular flooring places.

We have a lot of flooring companies here in Houston - a more apt comparison is to get quotes from them.
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Old 10-02-2014, 01:04 PM
 
Location: K.T.
454 posts, read 1,581,927 times
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Quote:
Originally Posted by cheryjohns View Post
The answer is yes on this price point. Another alternative is to keep carpet in the master - and wood in the other three rooms. There are a lot of buyers who actually prefer a "soft" floor in the bedroom.
What do you feel the added value would be? For my price point, home, location, etc...I know a lot of buyers are looking for hardwood floors in their homes, but what I am curious about is the price per sq/ft adjustment for a home such as mine w/ or w/o hardwood floors. $1 sq/ft? $2 sq/ft?
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Old 10-02-2014, 01:49 PM
 
5,976 posts, read 15,216,576 times
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Default Dilema...

I sold my home recently, and I wondered about the changes I made before I sold it. I did a lot of work, but these were projects that I started before we found a house... finding our new house was not expected, and because it was in Midtown/Montrose, and the price was right, we had to jump on it. In the end we had two houses for over a year, but our Katy house was paid for.

Anyhow, I finished the work, but I wondered if I should have just left things alone. I think people buying the house like a pallet they can work with, but then others like things they don't have to do. Our Katy home sold in 1.5 days, but the market is pretty good right now, so I don't know if it would have sold as is.

So, something to think about. If I were in your shoes, and would be there only a year, I'd save my money and just make the house 'pretty' with what is already there.
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Old 10-02-2014, 01:51 PM
 
Location: Clear Lake
200 posts, read 295,931 times
Reputation: 82
Flooring Do

Should You Choose Carpet Or Hardwood Floors? | Flooring Pro's and Con's

couple of short good read articles. from the way your question reads and the second article it almost sounds like carpet would be the safe way to go to make sure you chances of loss versus gain are minimized if it falls that way.

also if you are selling next summer, the market could be different by then.
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Old 10-06-2014, 02:29 PM
 
Location: K.T.
454 posts, read 1,581,927 times
Reputation: 243
I'm still torn on the idea...but still haven't heard about any evidence to suggest that wood floors will add any value, outside of simply being more attractive to some buyers, but if the money is the same, my normal clean carpet will have to do just fine. I would have thought they would have brought some value, at least the value of the material costs. So if it cost $10k for everything and $6-7k is materials, then that would be maybe a 60-70% return on investment.
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Old 10-06-2014, 06:45 PM
 
Location: Clear Lake
200 posts, read 295,931 times
Reputation: 82
if you pay a total of $10K (labor+materials), no you are not going to get $10K back nor will you get more than $10K. yes you will add value but are you going to profit from it dollar-wise? no.

from your response I say stick with your carpet and worry about your next place. if you are going for strictly profit. sure you will attract more buyers but they will not fully compensate you to attract them. and the buyer that ends up with your place might not even like wood floors so why not leave a flooring change to the new residents?

there is so many other factors I won't get into typing out. for example is wood floors the norm for comps in your area/neighborhood? or would you be the one of the few with them? either way it won't cause you to profit it would just figure in how much less the expense ends up being. for more evidence, find an appraiser and ask him. they will know the most.
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