How Much Does Hardwood Flooring Cost?

How much does new hardwood flooring cost?

The cost of new hardwood flooring can really range depending on the materials and size of the space you're planning to install flooring. However, on average, you can expect to spend between $6 and $18 per square foot, including labor. For a 300-square-foot room, you can expect to spend between $1,800 and $5,400, depending on the type of wood quality and materials you opt for. It's advised by most professionals to purchase 5% to 10% more flooring than you need in case of any mess-ups or cutting issues. Plus, in the event of repairs down the road, having extra flooring on hand can be helpful.

Some other things that factor into hardwood flooring costs include:

• The grade of the wood. The higher the quality grade, the more you can expect to pay. If you're looking to cut down on costs, you can decrease the grade of wood without much impact on the overall look and functionality of the hardwood floors.
• The thickness of the flooring. 5/16" is the thinnest of the flooring options, but paying for thicker floors can increase your cost per square foot, increasing it up to $15 or more.
• The species of wood. There are dozens of potential species you can select from. You can expect to pay between $2 and $4 per square foot for a lower-tier wood like pine, red oak or bamboo. But higher-tier floorings like maple, Brazilian walnut or teak can cost upwards of $10 or more per square foot.
• Repairs. If you discover your subflooring needs repairing, you can expect to add to your cost to install hardwood floors. This ensures your new flooring is safe and won't impact your new floors.
• Finishing and coating. As you decide the type of hardwood floors you want, you'll have to select whether you want prefinished flooring that's been sealed at the factory or if you'd like to seal it after installation. While unfinished boards can save you money on material, you'll have to pay more in labor costs to seal them once they've been installed.

Are hardwood floors worth the cost?

When it comes time to upgrade your flooring, hardwood flooring is the go-to choice for a lot of homeowners. Thanks to their high return on investment, low maintenance and beautiful look, they are a great addition to your home. If the cost of hardwood floors is a concern, Acorn Finance can help connect you with top-ranked national lenders that offer financing up to $100,000 for qualified borrowers.

Is there a return on investment on hardwood flooring installation?

While hardwood floors have a hefty upfront cost, they also recoup an incredible amount of the cost. A recent study from the National Association of Realtors (NAR) and the National Association of the Remodeling Industry (NARI) determined that installing new hardwood floors can get a 118% return on investment. With an ROI over 100%, you can feel assured that the investment into your floors will pay off in the long run!