Hi, I was wondering if the house appraisal for a house with all hardwood floor was higher than it is if the house has all tile. Thanks!
REAL harwood floors (meaning the flooring is 100% hardwood and not a laminate of any kind) usually appraise SLIGHTLY higher. This means the floors are in great shape with no re-finishing needed.etc needed. It also means they are flat (not warped) or dinged and stain free. As with tile wood floors come in all price ranges. Laminates (like babmboo or pergo) won't be valued as highly as 100% hardwood planks. Tile floors are 'iffy'. Just like harwood there are all different grades of tile. Cheap tiles -ceramic,terra cotta- do not appraise as highly as porcelain,stone or marble flooring. But even with the best of the best of either the appraisal value would change only a few 100 dollars between the best quality and the worst quailty of either.Hope this was helpful
There isn't a rule of thumb on this. Gorgeous wood floors in great condition may be worth more than nasty outdated tile, but a floor full of heated travertine, italian marble, or slate will be worth more than a crap pergo floor or wood flooring that's torn to hell.
They would be the same. There is no place to adjust for individual items on a appraisal like flooring in the sales comparison approach. The appraiser can adjust for condition, age, effective age, quality of construction and they fall in to poor, fair, average, good and very good. One issue would be who wants a home will all tile flooring. The only place on an appraisal to adjust for flooring would be the cost approach and if the home is older than 5 years, no one puts any weight on the cost approach. I think real hardwood flooring would sell faster than all tile. Tile is nice in the baths or kitchen. Pergo and Laminate flooring is a cheep way to go and give you no more value than cheep carpet.
