Friday, May 18 2012
Both hardwood and carpeted flooring can look great in any Evansville property. However, when that property is purchased by an investor whose intention is to make it a lucrative long-term rental, hardwood floors can have a real advantage over carpeting -- for both durability and enhanced aesthetic appeal.
Yes, the initial investment is definitely more expensive. But hardwood floors are extremely durable: they withstand years of the toughest use (by even the roughest of boots!). By comparison, carpets tend to rip and stain easily. With replacement costs starting in the neighborhood of $3.50 per square foot, that means their actual property management expense will usually be higher. The resulting value to present (or future) landlords can be considerable. Hardwood flooring also gives any property a higher-end feel to it, which could tend to attract higher quality tenants.
Canny landlords know that there are both good and bad tenants out there; only time can guarantee which kind will wind up in any given house. Although hiring a great property management company is one step that goes a long way toward keeping an income unit in great condition, over the years there is always a risk that some renters may cause damage, leaving the landlord or property management agency to deal with the mess after they move. And the fact is that any carpet can be ruined through one accidental stain -- even by the most conscientious of occupants. Conversely, if hardwood floors get scratched, it’s a fairly simple matter to sand and re-varnish it a vacant property.
The only real downside to hardwood floors -- aside from the initial expense -- is that they can make a house seem a little ‘cold,’ while carpet can make a house feel cozier. It may not be the responsibility of a property management firm to make a house feel cozy, but it still can affect occupancy rates. Nonetheless, many income property owners decide that it is not a good enough reason to choose carpeting. They hope that hardwood’s durability is equally valuable in the minds of the high quality tenants they hope to attract.
If you are a local investor considering buying an income property, or a current property owner looking for a great property management company referral – give me a call to discuss today’s options. As an experienced and well-networked agent in Evansville, I always have a number of sound referrals I will be happy to share with you. You can reach me on my cell phone 812-499-9234 or email Rolando@RolandoTrentini.com
Monday, October 10 2011
Whether it’s a new house or an old house, people like hardwood floors better than carpet, especially on the main floor.
Looking at the stats for North King County, a home without hardwood floors is about 2X as likely not to sell, especially at a price point of $400,000 or more for the home. About 24% to 26% of homes that “expire”, or homes still on market and not sold, do not have hardwood floors. Compare that to only 14% of SOLD homes without hardwood floors and you see that 86% of recent home buyers chose a home that had hardwood floors.
Wide plank, narrow plank, light oak, dark finish…lots of variances as to preference of TYPE of hardwood floor. But hands down, even if the new buyer refinishes the floors to a different color, they choose homes with hardwood floors that they can refinish over homes that would need hardwood floors installed.
While “What type of carpet to use to sell your home?” has not changed much…the better answer for the main living areas is hardwood…hands down.
The “new” preferred color of hardwood is less red than the once popular Brazilian Cherry, darker than the blonde tones of yesteryear, but not quite as dark as the short lived chocolate brown craze that lasted about a millisecond.
A warm chestnut brown is the color of the day.
It’s great for the floors…but a little dull for the kitchen or bathroom cabinetry. The new warm chestnut brown hardwoods are best used when the kitchen and main floor baths are a light colored ceramic tile or a laminate floor that blends the color.
Armstrong calls the color “gunstock”. It’s darker than light…lighter than dark…and solidly BROWN vs orange or red tones. Much easier to decorate a room without clashing with the tone of the hardwoods when using this color in many and varied rooms in the house. As a matching cabinet color choice though…I don’t think that trend will last. It’s just too darned dull to have as a kitchen cabinet color.
If after reading this you have any questions as to the color I am talking about…just visit any new model homes…it’s all the rage…and they are pretty much ALL using it in their model homes.
Monday, October 04 2010
Should you stick with the old or go with the (relatively) new?
Wood is one of the most loved flooring material in the home building and buying universe. Prized for its exceptional good looks and warmth, wood is highly versatile and sustainable. In the past 10 years, however, there has been a great disturbance in the force, and now wood has an able and extremely popular challenger: bamboo.
Though bamboo has had a limited history in the U.S. construction market, it has been widely used in East Asia and the South Pacific. One of the oldest building materials known to man, it has been used to build fences, houses, and furniture, and has even been known to hold up suspension bridges.
Read more here: Product Pros and Cons: Hardwood Flooring vs. Bamboo