Will laminate flooring increase home value?
Innovations in laminate flooring design and production has resulted in laminate planks and slats being almost identical in appearance and touch to real wood flooring. A drawback of laminate flooring is that it has a much shorter life than hardwood.
However, unless you intend to remain in the home for several years before you relocate, laminate flooring could be a smart, cost-effective alternative. This is a strong material that resists scratches and that is not damaged by small spills. Most importantly, it could boost property value almost as much as hardwood flooring can, and it usually costs a fraction of the price to install. This means that the return on investment may be significant.
However, there is one caveat. In higher-end homes, laminate floors may be viewed as a lesser material. It may be a detriment to your home’s value if your target audience is comprised of high-end buyers who demand the finest materials in their home.