Some General Flooring Ideas
As real estate investors, among the first decisions to make with newly acquired property is to determine an exit strategy - start with the end in mind.
If you don?t flip it but decide to rehab, will you then rent or sell? The objective set for this property will usually be reflected in the approach to and the extent of rehab. Starting with the end in mind will help
you maintain focus and stay within budget. The type and quality of floor coverings you use should be a part of your exit strategy. Listed below are some guidelines to consider.
REHAB FOR RENT:
Function over style should be emphasized. Remember that rental property will show all signs of wear sooner. Probably the most functional flooring is hardwood. Many older homes have original hardwood floors throughout, or at least through the main living area. Hardwoods have a permanent low maintenance surface, and since they provide a unique blending of style and function, they are appropriate for any application. Other than personal preference, the only downside to hardwood is cost. Generally speaking, to have old hardwoods professionally refinished, i.e., sanded, stained, and poly coat, is more expensive than installing a basic grade padding and carpet. The rule of thumb on this cost estimate is $1.05 to $1.10 per square foot for carpet and $1.50 to $2.00 per square foot for professional hardwood refinishing.
If carpet is the selection, basic is best. Try to stay with a base grade or "builder" grade and lean toward the use of medium to darker colors. Color
is probably the most important wear related factor. Darker colors will mask wear better than lighter colors. Quality upgrades are almost never necessary for the rental unit and seldom provide additional value when
selling a rehab.
In the kitchen and baths, it may be possible to retain the existing flooring if they are not damaged. If new floors are needed, again, basic is best.
The base grade (FHA certified) sheet vinyl flooring is the most cost effective and functional. Vinyl can usually be installed over any existing smooth surface and is a good candidate for the do-it-yourselfer via
instructional video or a hands-on demonstration offered by the larger home improvement stores. Another DIY product is the 1x1 peel and stick tiles. These tiles offer a more forgiving installation and require less
expertise. Depending on the quality used, P/S tiles can be a little less expensive than sheet flooring and local damage is easily repaired with left over pieces.
REHAB TO SELL:
There are almost no limitations to style and design expressions other than the adherence to the budget. Most perspective home buyers will place the greater weight of their consideration on aesthetics, i.e., their buy decision will be based on what they see. The goal for the overall color scheme (interior and exterior) should gear toward "neutral and non-offensive." The use of neutrals is far less likely to be a potential objective to any buyer. Neutrals allow the buyer to appreciate the new rather than judge someone else's selection of color.
The use of hardwoods, as mentioned above, certainly applies to a sale property, especially in upscale markets. The price range of the house can help
determine the quality of carpet used, but (generally) upgrades do not enhance the sales price. Lighter
colors will reflect more light and give the feeling of larger space. The use of Berber style in formal areas
will add a sense of quality. The same general idea applies to the kitchen and baths. Ceramic tiles in bathrooms is preferable as a quality enhancement but is more than double the cost of sheet vinyl. Vinyl is an
accepted standard kitchen flooring and is the most cost effective.
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