While many homeowners successfully sell their properties with unfinished spaces, there is no question that a completely finished home will enjoy a greater overall value. Even if you were happy with the unfinished space for tool storage, parking or messy crafts, buyers will be interested in seeing a home that looks inviting, welcoming and free from potentially time-consuming projects. Thankfully, choosing the right flooring can completely overhaul an unfinished space and give it a brand new look. Here are our best tips to keep in mind when selecting flooring to improve the resale value of homes with unfinished spaces.
What is the Average Temperature in the Unfinished Space?
This is rarely the first thing that a homeowner asks when it comes to flooring for an unfinished space, but it absolutely should be. In a very hot climate, having a cooler flooring choice underfoot can be relaxing and refreshing. This is especially true in an unfinished space that doesn't have ceiling fans or air conditioning. Similarly, a warmer flooring choice is a better idea for cold climates. Carpet is a solid choice for homes in colder areas, but opt for a dense, low-pile option to make it easier to clean in case of dirty projects or pet visits.
Is the Unfinished Space on the Ground Level or in the Basement?
Again, this question is rarely one that comes to mind when choosing flooring for an unfinished space. However, it can make a big impact on the best choices for your home. Basement-level spaces that are unfinished can be at a greater risk for flooding, which means that you want to stay away from flooring options that could potentially be ruined with a burst pipe or heavy rain. Carpets, for example, can be completely ruined if they are underwater for more than 24 hours. Vinyl or linoleum is often a better choice for basement floors. However, those homes on the ground level that are less vulnerable to flooding can explore other options like carpet, carpet tiles or even more luxurious vinyl that resembles wood or natural stone.
What is Your Budget for Improvements?
One of the biggest things to keep in mind when choosing flooring to increase the resale value of a home is your budget. Since there are dozens of fantastic flooring options in a large range of prices, no one will have a hard time selecting the perfect material. Remember that spending money on the investment upfront will end up netting you a greater profit when it comes time to sell the home. In terms of return for your home, it's hard to beat the return on installing new flooring.
What are the Average Home Values in the Area?
If your home is on the lower end of the price range for your neighborhood, spending a little more to give your unfinished spaces a more attractive floor can go a long way in attracting potential buyers who are willing to meet your purchase price offer. Your home will stand out as one of the nicest in the area, which can only be a good thing in terms of resale value and potential income revenue.
Adding or upgrading the flooring in an unfinished space has the potential to significantly improve the resale value of the home. To decide on the best flooring option for you, read through our tips and answer each question carefully.