Buying a new wooden floor is a substantial investment, and one that you really should take the time to seriously think about. Of course, there are many visual things that you need to consider before giving the builders the go ahead, such as the woods used, whether or not the timber will suit the design and whether the colours are right. However, those things can be discussed later (at length!). For now, there are other (admittedly less interesting things) that you need to consider.
Make The Most of Your Money
Whether or not your investment is going to pay off.When we call a new wooden floor an investment, we mean it in a literal sense. The reason you’re spending that money is that you hope it will repay you in one way or another. For some people, a good investment will mean not having to buy another floor for the next thirty years. For other people, it will mean adding more value to the re-sale of the house than they’ve actually paid for the floor itself. Before you write out that cheque, you need to calculate what you consider to be a sound investment, and then consider whether or not a new floor is likely to achieve that. If you’re planning to resell the property, is a 3k floor going to add more than 3k to the value of the property? Ask an estate agent if you’re unsure. Will it last thirty years? Find a company that offers guarantees. Get your money’s worth.
Be Practical
Secondly, you need to consider whether or not this particular floor is going to really serve the purpose that you want it to. For instance, if you’re purchasing a new floor so that you don’t’ have to make that spend again (or at least until you retire) is the material right. Will it last that long if you have kids running around? (Wood floors, remember, can suffer from dings and chips even if the timber is of the highest quality). In this case, would it be better to wait another couple of years until your kids are at the age where they’re less likely to damage it? If this really is the right time, then by all means buy that floor, but don’t make the investment without really considering the practicalities.
Consider What’s Best For Your Property
Finally, you need to consider the other investment issue – will it actually lead to a re-sale? One of the errors that many people make when investing in a property is that they stick to hypotheticals, ie ‘these new floors will add a total £4k to the value of the house, meaning that when the kids move out in a couple of years, we can downsize and make some money!’. The trouble is, when they go to sell the place, no-one looking in their area is prepared to spend the extra money, and they struggle to sell without reducing the price. Therefore, their investment becomes pointless (even if the floor itself still looks great). Obviously, if the floor is for your long term family home, then spend away, but if you’re treating it as a pure investment then it’s essential to consider whether the money spent will pay off further down the line.
Author Bio: This article was written by Janet Long at Green Apple Flooring.
