When renovating apartments it is important to make decisions that will tend to increase the property’s value, regardless of whether you want to sell it or rent it out. One of the major changes you can do to your apartment is to install the ideal apartment flooring that will considerably increase the rental rates. You may be wondering, what exactly is the ideal type of flooring? The answer is flooring that does a good job of making your apartment look great, is affordable and durable. Read on to find out what type of flooring you should install for your particular apartment.
Value of Your Apartment
Firstly, you should find the market value of your apartment before settling on a specific type of flooring. It would be impractical to spend an exorbitant amount of cash on flooring if the market value itself is of an average value. If you own a high-end apartment, then without a doubt you should opt for the best possible type of flooring that would further add to the value of your property.
High-Value Apartment Flooring
For a property of a high value, you should consider the following flooring:
High-End Wood Flooring
When it comes to wood flooring, nothing comes close to hardwood flooring. In the United States, The National Wood Flooring Association carried out a survey in which they asked real estate agents about the results of installing hardwood floors in their properties. Eighty-two percent stated that hardwood floors increased the value of their property and fetched a greater rent. This supports that installing the right flooring is an excellent way to increase the property cash flow and help pay off any apartment loans that may be registered against the property.
If you prefer going for carpeting, then ensure that you install a high-quality plush carpet rather than a builder’s grade one. Premium quality carpets will increase rental rates of your apartment.
Tiling is another option that is both beautiful and durable. For your premium apartment, go for a deluxe stone option, such as marble. Marble comes in various exotic designs and who wouldn’t want to live in an apartment that features exotic Mediterranean-style marble tiles that leave an impression?
Mid-Value Apartment Flooring
You should expect a high turnover rate at mid-value apartments; therefore consider options that are durable and long lasting.
Affordable Wood Flooring
Laminate flooring and engineered hardwood flooring are excellent options that are both affordable and extremely durable. These will not only add beauty to your apartment, but will also go a long way in adding value and getting you handsome rental rates.
It is recommended to avoid carpeting as they can retain odour and get stained easily, especially if you have a high turnover rate with new tenants coming and going. You want to make an investment that will last.
Tiles are among the best options for your flooring. You should opt for tiles that are made for use in high traffic areas so that they do not crack or get damaged.
Renovating your apartment flooring is a great way to add value to your property. You should consider the above options when choosing the type of flooring for your apartment. You will be surprised at the increase in value of your property and the rental rates once you’re done with the renovations!