Throughout this magazine issue, you’ve read all about the numerous reasons wood is environmentally friendly. But that’s just one of the many selling benefits of real wood flooring. Wood floors can be adapted to fit any décor, are easy to maintain, and add value to a home. However, did you know that they also have been proven to provide one of the greatest values of all – joy?
The National Association of Realtors (NAR) and the National Association of the Remodeling Industry (NARI) recently released the 2022 Remodeling Impact Report. The NAR/NARI report aimed to calculate consumers’ viewpoints toward their projects upon completion. Projects that made the renovators want to remain home, or remodel jobs that sparked an increase of enjoyment among occupants, received a high “Joy Score,” with 10 being considered a perfect Joy Score.
Renovators who refinished their hardwood floors or installed new wood flooring gave their projects a perfect 10!
One hundred percent of homeowners surveyed said they have a greater desire to be home after a hardwood floor refinishing project. Sixty-four percent of those polled answered that they have an increased sense of enjoyment when they are at home. Another 64 percent said just thinking about the completed project gives them a “major sense of accomplishment.”
After installing new hardwood flooring, 90 percent of homeowners surveyed said they have a greater desire to be home. Seventy-seven percent of those polled answered that they have an increased sense of enjoyment when they are at home now that their hardwood flooring is installed. Sixty-one percent shared that they feel a major sense of accomplishment when they think about the project.
NAR also provided an estimate of the likely dollar value each project would add to the house at resale. In comparing that dollar value to the estimated cost of each project provided by NARI members, a Recovered Project Cost percentage was calculated.
The highest percentage cost recovered for interior projects was from refinishing hardwood floors at 147 percent and new wood flooring at 118 percent, reemphasizing the long-term value.
These findings are just one fantastic resource available for our industry to utilize in promoting wood flooring to consumers. The NWFA also has produced several materials through the “Real Wood. Real Life.” campaign available to our members at nwfa.org. These materials are designed to tell consumers about the benefits of wood flooring, how to choose the right floor, why they should select a professional for the job, and proper maintenance. It walks consumers through various stages of life to show them that wood floors can handle all of their big and small moments, while dispelling some of the myths about wood floors.
There has never been a better time to promote real wood products. Doing so not only benefits your company, but the entire wood flooring industry as a whole. I hope you will join us in continuing to share the remarkable story of real wood flooring. You (and your customers) will be happy you did.