Hardwood floors have been a popular option for most homeowners looking to add beauty and durable flooring to their homes. There are different varieties of hardwood flooring you’ll find in the market, from hickory, ash, oak, tigerwood, and many others. A hardwood floor can last up to 100 years, and it is recommended to refinish it after about ten years.
Over the years, a hardwood floor will get scratched, dents, discolored, and show signs of wear and tear. Refinishing your hardwood floors revitalizes their look and makes a space feel brand new. However, does refinishing hardwood floors add or increase your home’s value? In this article, we’ll discuss that and much more.
Does Refinishing Hardwood Floors Increase Home Value?
Yes, refinishing your hardwood floors increases your home’s value. According to a 2019 Remodeling Impact Report, refinishing your hardwood floors ranks 9th on the list of top interior renovation projects that will add more value to your home’s resale value.
According to another report by NRA, homeowners that refinished hardwood floors recovered 147% of the cost during resale. This was even higher than installing new wood flooring, which stood at 118%.
Cost to Refinish Hardwood Floors
The cost of refinishing a hardwood floor ranges from $3 to $8 per square foot. For most hardwood floors, the total price range will be between $1000 and $2600. However, like most renovation jobs, getting the actual cost will depend on your home. Several factors influence the cost of refinishing a hardwood floor.
Hardwood Floor Before Refinishing
The size of the floor is the major determinant of the overall cost. A smaller floor plan will cost less, while larger spaces will cost more. However, you might save or receive a good deal from a professional flooring installer for larger spaces.
Different types of hardwood flooring also influence the cost of refinishing. Common and softer hardwoods are cheaper to refinish, while harder hardwoods are costlier because they are harder to sand or stain.
Hardwood Floor After Refinishing
You can save on refinishing your hardwood floors, taking it up as your next DIY project. However, this will depend on the condition of the floor. For minor surface imperfections, you can easily refinish your hardwood floors without the need for a professional. You’ll have to hire a floor sander for a day or two, which is about $60 to $100.
If you prefer to call a professional, you can also save by removing furniture, cleaning the space, and repairing minor damage. Before settling on your professional, consult different companies to get their estimates or inquire about special discounts.
When is the Right Time to Refinish?
For most hardwood flooring, it is recommended you refinish it after seven to ten years. However, different factors will make it sooner or longer before you can think about refinishing a hardwood floor.
Scratches, fading, dents, major discoloration, and other surface damage can all point to refinishing your hardwood floors. If the surface marks are very visible, then it is time to think about refinishing the floor. For minor scratches and dents, you can opt to repair them for a better look.
Higher foot traffic means your hardwood floors will look dull, get scratched, and show wear and tear earlier. After a few years of use, you might have to refinish the hardwood floor to get them back in good condition.
