Timber Floor Sydney. Prefinished solid timber.

Timber Value Renovations

Timber Floor Sydney

Home renovation is a tricky business. The do-it-yourself (DIY) renovation school has become popular over the last generation due to the influence of many TV programmes. Part of the appeal here was improving the value of the home for resale, or perhaps renting. This can work out well if we choose the right factor to renovate. But it often comes down to whether we can do the renovation ourselves.

If a house is in very poor condition it will need restoration just to be in a sellable state. If the house is fine, but we decide to add some features, we might be able to add some value that goes beyond the cost of the renovation. Or we might find that the renovation was only a partial help, with the values of the house only increasing by a slight amount. In some cases, it can actually backfire; people have discovered that the addition of a swimming pool does not appeal to many prospective buyers as pool cleaning is seen as an inconvenience.

Renovate Timber Floor Sydney

One safe bet for renovations is timber flooring. We all know that a home with timber floors has more appeal, something supported by sale statistics and buyer feedback. The question is whether the cost of adding timber flooring to a pre-existing home will increase the home value. Market research suggests that it does.

The other question is whether it is cost effective to refinish a timber floor? It turns out that this is an even better renovation investment. The home will look more impressive if the floors have just been re-sanded and re-polished, and fetch a slightly better sale price.

A new solid wooden floor can have a 118% return on investment. This means that for every $1000 we spend on timber flooring we reap a $1180 increase in the sale price of the home.

Refinishing an old floor is even more profitable, yielding a 147% return on investment. This depends on the condition of the floor. A new floor will already look quite good. An old, badly beaten floor will benefit more from re-sanding. Repolishing is less expensive than re-sanding and very effective. So if the floor is reasonably good and just needs a repolishing, then the added value is probably well worthwhile.

Kitchen and bathroom renovations do not usually have a good return on investment. Unless the bathroom or kitchen is old and in poor condition, we will tend to lose money on any renovations. Timber floors and furnishings might work in these areas.

Outdoor Timber Floor Sydney

An outdoor timber deck can be a good renovation option, and perhaps add value to the home. The determining factor is whether the deck has a good view, and is in an area with a breeze and good weather.

Timber Floor Sydney

Timber floors are attractive and long-lasting. And they can be re-sanded to look like new. Timber floors add value to a home.

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Posted in Blog, Flooring, Timber Flooring.