The right flooring can have a tremendous impact on the look of a house. But with so many choices on the market, picking out one that suits your financial standing and complements your investment home can be overwhelming as there’s no one-size-fits-all solution. Ultimately, the type of floor that might work best for you will hinge on your investment strategy and the local housing market where the home is located.
For low-end rentals, a floor that is cheap yet durable will be your best bet, whereas in higher-income areas more expensive floors can boost rent price and yield more profit. For fix-and-flip properties, you might consider laminate flooring as it is inexpensive and durable yet elicits the high-end look many homeowners seek.
While there are myriad varieties of flooring available, be sure to understand your local market and audience so you can deliver on homebuyers’ and tenants’ expectations. Here are five common floor types to consider as you explore your options:
Hardwood – This classic, beautiful option will keep your investment home floor from looking dated over time. Hardwood flooring is available in many different stains, colors and sizes, making it perfect for almost any home.
Laminate – Laminate flooring is a low-cost alternative to hardwoods and can produce more durable results. Laminates can be made to mimic almost any flooring material, are easy to clean, and are easy to patch if damaged.
Cork – Cork is a sustainable choice for floors as it’s made from all organic and renewable materials. It is soft and has great insulation properties, which provide comfort underfoot. It is also shock absorbent, causing it to reduce noise as well as reduce the likelihood that dropped glasses or plates will break.
Polished Concrete – This type of flooring provides an industrial look. Concrete is non-porous and easy to maintain. Concrete also stays cool even when the weather is warm, making it ideal for locations in hot climates.
Vinyl – vinyl flooring is a cost-effective option for investors looking to cut expenses. It does not require much maintenance and comes in many styles that simulate materials such as hardwood and stone. While vinyl plank is a versatile, water-proof product that is great for high-traffic areas, it cannot be refinished like hardwood.
Are you ready to plunge into investing in real estate? RLG has the tools and resources at its disposal to get you on your way and not waste a moment of your time. Call us today to learn more and experience firsthand the dedicated, personalized customer service and undivided attention that RLG has to offer!