Hardwood floors add beauty and elegance to any home, and investing in them can significantly increase the value of your property. However, before you embark on this project, it’s essential to understand the cost involved. In this guide, we will walk you through the factors that influence the cost of new hardwood floors, enabling you to make an informed decision.
The first consideration in calculating the cost of new hardwood floors is the type of hardwood you choose. Hardwood flooring comes in various species, including oak, maple, cherry, and walnut, each with its unique characteristics and price. Oak tends to be more affordable, while exotic species like Brazilian cherry can be pricier. Additionally, the width and grade of the planks also affect the cost. Wider planks and higher grades usually come at a premium.
Secondly, the total area to be covered plays a significant role in determining the cost. Hardwood flooring is typically sold by the square foot. Before you can estimate the square footage, measure the rooms where you plan to install the new hardwood floors and account for any additional spaces like hallways and closets. To get a good estimate, add about 5-10% to account for wastage or any cuts required during installation. Once you have the total square footage, you can easily calculate the cost by multiplying it by the price per square foot of the chosen hardwood.
Lastly, don’t forget to account for the expenses associated with installation. While some homeowners choose to install the flooring themselves, it is usually recommended to hire professionals for the best results. Installation costs can vary depending on factors such as the complexity of the project, the condition of the existing subfloor, and your location. On average, you can expect to pay between $3 and $8 per square foot for installation. Keep in mind that additional charges may apply for services such as removing the old flooring, moving furniture, or installing baseboards.